Summary  2

1 Background  5

2 UK oil and gas statistics  5

2.1 UK oil and gas production, use and imports  5

3 Government policy on North Sea oil and gas  8

3.1 North Sea Future Plan  8

3.2 Taxation of North Sea oil and gas  12

3.3 Energy Independence Bill  15

4 Key issues  16

4.1 How much oil and gas is in the North Sea?  16

4.2 Energy Security  17

4.3 Economic benefits and jobs  20

4.4 Climate impacts  22