One of Labour’s manifesto commitments is to nationalise energy supply. As a potential producer London Local Energy don’t have any skin in that game and remain neutral. But in the case of UK on- and off-shore oil and gas, the energy itself is already nationalised and has been since 1934- a policy success that some in Labour may not realise they had achieved.
All UK oil and gas is thus Crown property. The idea that greedy “frackers” simply want to make money is thus a little more nuanced. What we want is what you want: That the people’s resources are distributed fairly.
If LLE were allowed to explore, and then discover natural gas, the value of that gas would be taxed at roughly 50% via national and borough taxes and charges to the community. Continue reading For the many, not the few. A decision for the many, not the FoE.