I will not; I am sorry, but I only have one and a half minutes.
It is logical on environmental grounds, therefore, to support new licences in oil and gas. But there are other arguments. There is the balance of payments—we used to talk about the balance of payments. In 2022, our trade in goods deficit was £63.9 billion. I would rather have our imports of oil and gas coming from the UK and not being imports at all, supporting our balance of payments.
There is the tax income. The Office for Budget Responsibility says that in 2023-24 we are going to get £10.4 billion of tax revenue from North sea oil. That pays for a lot of public goods. We should be supporting that, and we should be supporting business profitability and jobs, because that supports our communities. It also
gives time for the phasing of what is described as the just transition to renewable jobs. There is an irony in that the proponents of new clause 30, led by the hon. Member for Brighton, Pavilion (Caroline Lucas), talk about just transitions, but it is this longer process away from North sea oil and gas, managing decline, that provides the space for a truly just transition to new renewables employment in this country. I do not support new clause 29 as a result.