![\"Tony](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2016\/01\/Screenshot-2016-01-26-17.13.05.png\")
Former prime minister Sir Tony Blair has urged Energy Secretary Ed Miliband to scrap the moratorium on new oil fields in order to deliver a \u00a3165 billion boost to the British economy.<\/p>\n
The Tony Blair Institute (TBI) for Global Change says that together with the energy profits levy, or windfall tax, Labour is destroying jobs and not significantly moving the dial on tackling climate change.<\/p>\n
The think tank\u00a0says that lowering the EPL and granting more licences would also reduce the UK\u2019s dependency on foreign imports and security risks.<\/p>\n
Its report argues that the government\u2019s clean power plan is \u201cleading the UK in the wrong direction\u201d and is \u201cclimate theatre\u201d rather than \u201cclimate leadership\u201d. <\/p>\n
It echoes comments at Davos last month by Donald Trump who said: \u201cThe United Kingdom produces just one-third of the total energy from all sources that it did in 1999 \u2013 think of that, one-third \u2013 and they\u2019re sitting on top of the North Sea, one of the greatest reserves anywhere in the world, but they don\u2019t use it, and that\u2019s one reason why their energy has reached catastrophically low levels with equally high prices.\u201d<\/p>\n The TBI report states: \u201cThis is not about slowing the transition or denying the direction of travel \u2013 it is about making the transition governable. <\/p>\n \u201cAn energy strategy that ignores revenue, security and political consent in pursuit of symbolic purity will not endure \u2013 and it will not deliver the climate outcomes it promises.\u201d<\/p>\n It claims renewable energy is too expensive, though critics say it is still significantly cheaper than building gas-fired power stations.<\/p>\n New onshore wind has been agreed at a price of \u00a372\/MWh and new solar at \u00a365MWh \u2013 both less than half the \u00a3147\/MWh cost of building and operating new gas power stations.\u00a0New offshore wind, at \u00a391\/MWh, is about 40% cheaper than new gas.<\/p>\n Nuclear power, which is also promoted by the think tank, is likely to cost more than \u00a3133\/MWh and would take many more years to build.<\/p>\n Environmental campaigners say further North Sea production would make little difference to the UK\u2019s energy security and would not reduce energy bills.<\/p>\n Today both the Scottish Labour leader and the Scottish Liberal Democrats reiterated their commitment to overturning the SNP\u2019s ban on new nuclear energy and have called for small modular reactors to be built in Scotland.<\/p>\n Analysis by the Nuclear Industry Association claims Scotland is missing out on 5,000 jobs due to the SNP\u2019s ban on new nuclear.<\/p>\n LibDem economy spokesperson Jamie Greene said: \u201cTraditional nuclear plants are not without their drawbacks, but small modular reactors have the potential to change the game. <\/p>\n \u201cThey could provide the perfect complement to Scottish renewables by providing a reliable baseline for when the sun isn\u2019t shining and the wind isn\u2019t blowing.<\/p>\n \t <\/div>\n![\"Donald](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2026\/01\/Donald-Trump-spkg-at-press-conference-20-1-26.png\")
![\"Rolls-Royce](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2021\/11\/Rolls-Royce-single-modular-reactor-nuclear.png\")