---

Energy Security

My hon. Friend is absolutely right. We can track a good four years of dithering and delay, for which a generation risks paying a very high price. We can look into the crystal ball and see the big picture looming. For instance, the International Energy Agency says that between now and 2030, primary energy consumption is expected to increase by two thirds. As demand growth already outstrips supply growth, the meteoric rise in energy prices that we are witnessing is likely to be a lasting feature and not only a temporary glitch. Given that crude oil is trading at around $140 today, the UK literally cannot afford to play this global game of risk. But we do not have to play that game. This island—with its high winds and high seas, its skilled work force trained in the energy industry, its manufacturing sector restructuring towards a high-tech and value-added model and its green financial centre in the City of London which is leading the world in carbon trading—is uniquely placed to go green and secure our energy independence. Under our Conservative vision, it is not only possible to combine energy and climate security: that is the only practical strategic choice. However, that long-term vision can be made possible only with the political will to make big decisions. As my right hon. and hon. Friends will argue, the Government's lack of action in the past decade has not only compromised our long-term low-carbon future, but left us vulnerable in the short term as well.