§ Mr. YeoTo ask the Secretary of State for Trade and Industry what assessment he has made of the Reading University paper "World Oil Supply: New and Medium Term; the Approaching Peak in conventional oil production". [140594]
§ Mr. ByersMy Department keeps abreast of a wide range of expert opinion on future scenarios for global oil production. The projections of future oil production in Reading University's paper are among the most pessimistic. Many experts, including major oil companies and the International Energy Agency, believe that production will continue at significant levels well into the new century and it is likely that, in the longer term, the transition to alternative fuels will result in recoverable oil reserves remaining in the ground unused. The Government will continue to monitor opinions on this issue and factor them into energy policy.
§ Mr. YeoTo ask the Secretary of State for Trade and Industry what assessment he has made of the impact on British industry of a rise in the world oil price to(a) $40 and (b) $50. [140609]
§ Mr. YeoTo ask the Secretary of State for Trade and Industry what estimate he has made of when(a) United Kingdom oil production and (b) world oil production will reach its peak. [140613]
§ Mr. Byers[holding answer 28 November 2000]: My officials have estimated that production of hydrocarbon liquids from the UK Continental Shelf will climb to a new peak later this decade. DTI does not produce its own estimates of future world oil production.
§ Mr. YeoTo ask the Secretary of State for Trade and Industry what assessment he has made of the need to develop energy sources other than oil. [140611]
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§ Mr. Byers[holding answer 28 November 2000]: The Government's broad energy policy is:
to ensure secure, diverse, and sustainable supplies of energy at competitive prices.This is best achieved by competition in open markets, in which it is primarily for the energy companies to determine their energy inputs and to develop appropriate sources of supply. The Government's main role, therefore, is to address areas where the market is not working properly. The 1998 White Paper "Review of Energy Sources for Power Generation" (Cm 4071) reviewed the different sources of input energy available for electricity generation․coal, gas, nuclear, and renewables. For renewables specifically, the Government published in March 1999 a consultation paper on future support for the technologies, followed in January 2000 by a policy statement announcing the Renewables Obligation on electricity suppliers, and in October 2000 by a consultation paper on the form of the Obligation. In publishing the UK Climate Change programme on 17 November 2000, the Government recognised the importance of preparing for a low-carbon economy in the future, and announced in this context that they would be conducting a review of the options for longer-term energy choices.