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Energy Providers

The Minister is right that we are now in a globally dependent market, but it is very important that we maximise production from our own market. Is he aware of the growing concern in north-east Scotland that although the big companies—I declare an interest as a shareholder in Shell—have enough cash to invest, much of the future production and investment in the North sea has been from smaller companies entering the market. The smaller companies rely on the capital markets, which are frozen at the moment. Will he ensure through PILOT that a strategy is in place to tackle the impact of the credit crunch on that vital investment in the next round of North sea exploration and production next year?