Extract from Commons debate on the King's Speech: Shell - Nov 8

Pete Wishart (Perth and North Perthshire) (SNP):...Extracting more oil from the North sea will not help energy security in Britain or reduce bills. Our oil is owned by the big companies, such as Shell and BP, which extract it and sell it into the international markets. We then buy it back at market rates. The new licences will make no difference. The way to reduce dependence on foreign oil is to reduce dependence on oil—it is as simple as that...