Oil and Gas Industry - Question

Part of the debate – in the House of Lords at 12:08 pm on 22nd September 2020.

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Photo of Lord Callanan Lord Callanan Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy) 12:08 pm, 22nd September 2020

As we have said, oil and gas have a key role to play in the transition and that is reflected by the independent Committee on Climate Change. Many of these things are, of course, a matter for the market. We have historically low oil prices at the moment, and the Government are well aware of it. We need to transition away from fossil fuel. BP, which the noble Lord mentioned, is doing a tremendous job in supporting, for example, the Net Zero Teesside scheme.