Vince Cable pledges oil and gas revival
BUSINESS Secretary Vince Cable has promised a revival in the oil and gas industry, comparable to the transformation of UK car manufacturing, ahead of a visit to Aberdeen on Thursday.
He said the sector had been neglected, with billions of pounds of business and investment going to countries such as South Korea instead.
He said that, with support, it could be revived in the UK on a similar scale to the car industry, which is now a net exporter after receiving £2 billion of government support.
Advertisement
Hide AdAdvertisement
Hide AdHe said the oil and gas supply chain would not only generate jobs and money, but also could help to underpin the renewables industry. “It underpins the importance of the oil and gas sector, the fact that it has an important future, and it’s important for the UK and for Scotland,” he said.