Britain sitting on 20 billion barrels of oil and leaving it underground, says energy supply expert

 On the latest Planet Normal podcast columnists Liam Halligan and Allison Pearson are joined by energy supply expert, and former Middle East correspondent, Andy Critchlow, to discuss Britain’s retreat from energy self-sufficiency and why he believes it is an act of “economic self-harm”. 

With tankers blocked in the Persian Gulf and Qatar unable to get its gas to market, Mr Critchlow describes the potential impact on energy supplies as “catastrophic.” With 15 million barrels a day of crude oil potentially blocked from passing through the Strait of Hormuz, Mr Critchlow says the situation is “about as big as it gets.”

“Energy security is not just about solar, it’s not just about wind,” he says. “It’s actually about providing more energy for growing economies, and that’s fossil fuels.”

He argues there are still 20 billion barrels of proven oil in the North Sea, enough to deliver energy security and a sovereign wealth fund capable of funding defence, the NHS and infrastructure. Mr Critchlow says that the decision to leave it there is strategically indefensible at a moment when global energy supply has been “weaponised.”

Listen to Planet Normal, a weekly Telegraph podcast featuring news and views from beyond the bubble, using the audio player above or on Apple Podcasts, Spotify or your preferred podcast app.