Secretary defended the regulators� decision. The secretary defended the regulators decision. , , decision. The gas will be used domestically decision. The gas will be used domestically as decision. The gas will be used domestically as it decision. The gas will be used domestically as it has decision. The gas will be used domestically as it has been i decision. The gas will be used | domestically as it has been set decision. The gas will be used domestically as it has been set out. In terms of the oil, it gets exported initially but overall, the uk is a net importer of oil. So this is an important thing that has happened today. It is good for Energy Security. It is good forjobs and investment in this country and overall, it means lower emissions. It gets refined abroad but overall, the uk is a net importer of oil so we need oil and gas in the future and it is important that it is produced here because that means jobs and investment here in the uk. As i said, in a moment we will explore some of the issues this decision raises by answering some of your questions but first, let� s get a bit more political reaction and said keir starmer has confirmed that labour will not revoke the licence for the rosebank oilfield if it wins the next election. Mr starmer said that allowing the north sea exploration to go ahead would provide stability to the economy. Mr starmer spoke to my colleague nick robinson. In starmer spoke to my colleague nick robinson. ,. ,. , ~ robinson. In relation to rosebank, what we have robinson. In relation to rosebank, what we have said robinson. In relation to rosebank, what we have said is robinson. In relation to rosebank, what we have said is no robinson. In relation to rosebank, what we have said is no new robinson. In relation to rosebank, what we have said is no new line. What we have said is no new line since is to be licences when we are in power but we won� t revoke any licenses granted before we are in power. I5 licenses granted before we are in ower. ,. ,. ,. , power. Is it wrong to say that rosebank power. Is it wrong to say that rosebank being power. Is it wrong to say that rosebank being develop power. Is it wrong to say that| rosebank being develop drive power. Is it wrong to say that i rosebank being develop drive a power. Is it wrong to say that rosebank being develop drive a coach and Horses Rosebank Being develop drive a coach and horses through our Climate Commitment . He and horses through our Climate Commitment . And horses through our Climate Commitment . ,. , commitment . He is right that we need this transition commitment . He is right that we need this transition but commitment . He is right that we need this transition but i commitment . He is right that we need this transition but i am commitment . He is right that we need this transition but i am mindful commitment . He is right that we need this transition but i am mindful of this transition but i am mindful of the fact that if there is one thing thatis the fact that if there is one thing that is killed both in the last 13 years and it has been killed, is a chopping and changing, lack of Strategic Thinking and therefore, as a matter of principle, we will accept the baseline that we inherit from the government if we win that election. That� s why we have been very clear that he won� t revoke that licence. Very clear that he wont revoke that licence. ,. , very clear that he wont revoke that licence. , ,. ,. , very clear that he wont revoke that licence. , u,. ,. , licence. You could if you wanted to . It is deliberate licence. You could if you wanted to . It is deliberate and licence. You could if you wanted to . It is deliberate and it licence. You could if you wanted to . It is deliberate and it is licence. You could if you wanted to . It is deliberate and it is in licence. You could if you wanted to . It is deliberate and it is in order it is deliberate and it is in order to ensure we have stability that we desperately need. Lets to ensure we have stability that we desperately need. Desperately need. Lets hear from humza yousaf, desperately need. Lets hear from humza yousaf, scotlands desperately need. Lets hear from humza yousaf, scotlands first i humza yousaf, scotland� s first minister. Humza yousaf, scotlands first minister. ,. , minister. This is the wrong decision minister. This is the wrong decision. I minister. This is the wrong decision. I have minister. This is the wrong decision. I have expressed i minister. This is the wrong. Decision. I have expressed my concerns about rosebank for some time. Most reasonable people, they shouldn� t be a cliff edge but neither is the north east of scotland� s future on oil and gas extraction. We want to take workers from the north east from a Fossil Fuel Industry Transition to renewables, net zero future. That is one i am committed to and this latest development is another demonstration of the uk government going back on its climate. This demonstration of the uk government going back on its climate. Going back on its climate. This is what the senior going back on its climate. This is what the senior vice going back on its climate. This is what the Senior Vice President i going back on its climate. This is what the Senior Vice President ati what the Senior Vice President at Electronic Arts said. It is what the Senior Vice President at Electronic Arts said. Electronic arts said. It is an investment Electronic Arts said. It is an investment into Electronic Arts said. It is an investment into energy Electronic Arts said. It is an investment into Energy Security and jobs in the uk there is a continuing need for oil and gas through the entire transition and even after net zero, we will need oil and gas in our daily lives to run the society as we know it. We our daily lives to run the society as we know it. Our daily lives to run the society as we know it. We have had lots of viewpoints as we know it. We have had lots of viewpoints there as we know it. We have had lots of viewpoints there but as we know it. We have had lots of viewpoints there but now as we know it. We have had lots of viewpoints there but now its as we know it. We have had lots of viewpoints there but now its time | viewpoints there but now it� s time for your questions answered. Throughout the day, you have been e mailing us and we have selected a handful of them to cover as many as we can. I am joined by. Just in questions of the top. We have pat, who has asked what company will run this oilfield and off the back of that, what is the estimated profit the owner of rosebank will make from the sale of the products extracted . The make from the sale of the products extracted . ,. , make from the sale of the products extracted . , ,. , extracted . The main Company Involved with this is called extracted . The main Company Involved with this is called equinor, extracted . The main Company Involved with this is called equinor, it extracted . The main Company Involved with this is called equinor, it is extracted . The main Company Involved with this is called equinor, it is a with this is called equinor, it is a very large oil and gas and other energy types involved as well, there are getting big in wind, based in norway, making a lot of profit for the norwegian government is a major stakeholder in that. They have built Up Stakeholder in that. They have built up a very large trust fund in norway. 20 of this is owned by a Company Called ithaca energy, based in aberdeen so it is owned by lot of Investment Funds as well. Quite a High Risk Business to be investing in oil and High Risk Business to be investing in oiland gas, High Risk Business to be investing in oil and gas, upstream like this. The 80 stake from equinor means it is doing the investment i� m not aware that it has published her profit. At the moment, the estimate that the production that will start in 2026, will continue until 2051. Something of an irony given all that controversy about the Environment Impact of the oil and gas being drilled here, a year after net zero are supposed to be achieved. It will run for decades. The oil and gas price, you can be sure is going to vary a bit during that time and the profits made from it is likely to be very variable as a result. They are saying they expect between the Capital Expenditure and the operating costs, it is very expensive to get gas oil and gas. They are promising that a fairly high proportion of the costs will be spent on the supply chain in the uk so it should stay to the size of the uk economy. So it should stay to the size of the uk economy so it should stay to the size of the uk econom. ,. ,. ,. , i. Uk economy. Tony, what more do you know about uk economy. Tony, what more do you know about companies uk economy. Tony, what more do you know about companies that uk economy. Tony, what more do you know about companies that are know about companies that are investing in rosebank and their environmental track record elsewhere . Environmental track record elsewhere . , elsewhere . Douglas has put it quite clearl. Elsewhere . Douglas has put it quite clearly the elsewhere . Douglas has put it quite clearly. The companies elsewhere . Douglas has put it quite clearly. The companies are elsewhere . Douglas has put it quite clearly. The companies are going i elsewhere . Douglas has put it quite clearly. The companies are going to | clearly. The companies are going to be involved clearly. The companies are going to be involved in this are huge Fossil Fuel Companies. They make their money fuel companies. They make their money by fuel companies. They make their money by extracting oil and gas and they are money by extracting oil and gas and they are not altruistic, they will not sell they are not altruistic, they will not sell this i want gas to the cheaper not sell this i want gas to the cheaperjust because it is in uk waters cheaperjust because it is in uk waters. These are Fossil Fuel Companies who will make their money by extracting oil and gas which will be burned by extracting oil and gas which will be burned and will aggravate the climate be burned and will aggravate the Climate Crisis. We be burned and will aggravate the Climate Crisis. Climate crisis. We will be coming back to you Climate Crisis. We will be coming back to you a Climate Crisis. We will be coming back to you a little Climate Crisis. We will be coming back to you a little late Climate Crisis. We will be coming back to you a little late with i Climate Crisis. We will be coming. Back to you a little late with some questions directly to you. I wonder if we can turn to as me. Esme, we have a question that came to us from david powell. He says he works with companies to measure and reduce their Carbon Footprints. How can companies be expected to reduce their Carbon Footprints in the government seems to be making little to no effort on a National Scale . I� m sure the government would push im sure the government would push back on im sure the government would push back on that im sure the government would push back on that. What im sure the government would push back on that. What they im sure the government would push back on that. What they have im sure the government would push back on that. What they have said i back on that. What they have said today back on that. What they have said today as back on that. What they have said today as this back on that. What they have said today as this decision back on that. What they have said today as this decision to back on that. 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But actually the point that was made target. But actually the point that was made there target. But actually the point that was made there has target. But actually the point that was made there has been target. But actually the point that was made there has been echoedj was made there has been echoed previously was made there has been echoed previously by was made there has been echoed previously by the was made there has been echoed previously by the uk was made there has been echoed previously by the uk committee i was made there has been echoed l previously by the uk committee for climate previously by the uk committee for Climate Change previously by the uk committee for Climate Change which previously by the uk committee for Climate Change which is previously by the uk committee for Climate Change which is that Climate Change which is that independent Climate Change which is that independent body Climate Change which is that independent body which i Climate Change which is that i independent body which advises Climate Change which is that independent body which advises the government independent body which advises the government which independent body which advises the government which has independent body which advises the government which has the independent body which advises the i government which has the government needs government which has the government needs to government which has the government needs to think government which has the government needs to think carefully government which has the government needs to think carefully about government which has the government needs to think carefully about the i needs to think carefully about the public needs to think carefully about the public decisions needs to think carefully about the public decisions it needs to think carefully about the public decisions it made needs to think carefully about the public decisions it made and i needs to think carefully about the public decisions it made and the i public decisions it made and the signals public decisions it made and the signals it public decisions it made and the signals it sends. Public decisions it made and the signals it sends. Does public decisions it made and the signals it sends. Does it public decisions it made and the signals it sends. Does it send i public decisions it made and the signals it sends. Does it send ai signals it sends. Does it send a Signal Signals it sends. Does it send a signal that signals it sends. Does it send a signal that we signals it sends. Does it send a signal that we are signals it sends. Does it send a signal that we are not signals it sends. Does it send a signal that we are not taking i signal that we are not taking climate signal that we are not taking Climate Change signal that we are not taking Climate Change seriously signal that we are not taking Climate Change seriously if. Signal that we are not taking. Climate change seriously if we signal that we are not taking i Climate Change seriously if we are approving Climate Change seriously if we are approving those Climate Change seriously if we are approving those oilfield . Climate change seriously if we are approving those oilfield . The i approving those oilfield . The government approving those oilfield . The government says approving those oilfield . The government says they approving those oilfield . The government says they are i approving those oilfield . The government says they are at| approving those oilfield . The i government says they are at still very much government says they are at still very much r~ government says they are at still very much k i government says they are at still very much r government says they are at still ve much r. ,. , very much r. I wonder if he can put this into context very much r. I wonder if he can put this into context for very much r. I wonder if he can put this into context for us very much r. I wonder if he can put t