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Dale Vince Backs North Sea Drilling, Cites £10bn Savings

8/24/2026

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Summary

Story summary

Renewable entrepreneur Dale Vince OBE now backs new North Sea oil and gas drilling.
He says a Contract for Difference could cut North Sea oil and gas costs.
His modelling predicts a £10 bn annual saving, larger during crises.
He says a price cap would protect North Sea jobs and investments despite shocks.
He notes the Conservative government set a 2 % profit-margin cap on retail electricity and gas five years ago.

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Story summary

Renewable entrepreneur Dale Vince OBE now backs new North Sea oil and gas drilling.
He says a Contract for Difference could cut North Sea oil and gas costs.
His modelling predicts a £10 bn annual saving, larger during crises.
He says a price cap would protect North Sea jobs and investments despite shocks.
He notes the Conservative government set a 2 % profit-margin cap on retail electricity and gas five years ago.