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Brown meeting oil industry chiefs Brown urges increased oil boost
(about 2 hours later)
Gordon Brown and Alistair Darling are meeting oil industry leaders amid controversy over soaring fuel prices. Gordon Brown has urged oil industry leaders to come up with ideas for improving supplies as fuel prices soar.
The government is set to announce new moves to increase oil production in the North Sea. Number 10 says it wants to make the most of the UK's reserves.
It comes after lorry drivers staged protests against rising costs and Labour MPs urged ministers to rethink increases in both petrol and road tax.It comes after lorry drivers staged protests against rising costs and Labour MPs urged ministers to rethink increases in both petrol and road tax.
Lib Dem Treasury spokesman Vince Cable called on the PM to wait before making a decision over plans to raise duty on fuel by 2p in the autumn. The PM and Chancellor Alistair Darling are in Scotland meeting oil bosses.
Mr Brown says there is "no easy answer" to the global oil problem. They are looking at issuing new licensing agreements for North Sea Oil exploration.
'Green agenda'
Mr Brown told the industry body UK Oil and Gas: "This is not just a national problem - it is a global problem of supply and demand, not just in the short term, but the medium term and the long term.
"Therefore, what your ideas and insights are, to contribute to getting the right balance between supply and demand, is going to be very useful to us."
The cause of rising prices is clear: growing demand and too little supply to meet it both now and - perhaps of even greater significance - in the future Gordon Brown Analysis: Driving towards a U-turn?Speculation over road tax rethink Analysis: Why oil prices are high
The government is under mounting pressure to ditch controversial plans to increase road tax on gas guzzling cars.The government is under mounting pressure to ditch controversial plans to increase road tax on gas guzzling cars.
Scottish gathering
Business Secretary John Hutton and Justice Secretary Jack Straw insisted the prime minister was "listening" to concerns over the planned increase in vehicle excise duty - giving rise to speculation that the government could stage a U-turn.Business Secretary John Hutton and Justice Secretary Jack Straw insisted the prime minister was "listening" to concerns over the planned increase in vehicle excise duty - giving rise to speculation that the government could stage a U-turn.
The cause of rising prices is clear: growing demand and too little supply to meet it both now and - perhaps of even greater significance - in the future Gordon Brown class="" href="/1/hi/uk_politics/7422655.stm">Analysis: Driving towards a U-turn? class="" href="/1/hi/uk_politics/7421171.stm">Speculation over road tax rethink class="" href="/1/hi/business/7255447.stm">Analysis: Why oil prices are high However, the prime minister's official spokesman said the two Cabinet ministers were saying "nothing more than the government understands the concerns of the motorists and hauliers".
But writing in the Guardian, Mr Brown seemed keen to keep the focus on the rising cost of oil, rather than on the hike in road tax. "The chancellor and the prime minister would happily agree with them," he said.
However, he added that Mr Brown was not going to retreat from "his green agenda".
Stabilise the price
Writing in the Guardian, Mr Brown seemed keen to keep the focus on the rising cost of oil, rather than on the hike in road tax.
He says an increase in the supply of oil would lower the price of fuel and ease pressure on the government over the planned tax increases.He says an increase in the supply of oil would lower the price of fuel and ease pressure on the government over the planned tax increases.
Mr Brown and Mr Darling are meeting representatives of oil companies in north-east Scotland where they were expected to ask industry leaders what help they would need from the government in order to increase production - such as investment in new infrastructure or oil exploration.
See how UK petrol and diesel prices have risen See how UK petrol and diesel prices have risen
In his Guardian article, Mr Brown called on nations to unite to stabilise the price of oil, which has increased from US $10 a barrel a decade ago to $135 today. In his newspaper article, Mr Brown called on nations to unite to stabilise the price of oil, which has increased from US $10 a barrel a decade ago to $135 today.
He says the UK will argue that a global strategy to tackle the impact of higher oil prices be put at the top of the agenda of the next meeting of the G8 group of industrialised countries.He says the UK will argue that a global strategy to tackle the impact of higher oil prices be put at the top of the agenda of the next meeting of the G8 group of industrialised countries.
'Don't rush''Don't rush'
The development of renewable energy sources must be accelerated and the efficiency of the oil market improved to ease the impact of growing demand, he says.The development of renewable energy sources must be accelerated and the efficiency of the oil market improved to ease the impact of growing demand, he says.
"The cause of rising prices is clear: growing demand and too little supply to meet it both now and - perhaps of even greater significance - in the future," he writes. Lib Dem treasury spokesman Vince Cable, a former economist at oil giant Shell, said if he were chancellor he would wait before making a decision on the 2p fuel duty rise - but added he could not see an easy way to pay for scrapping it.
"Our goal that Britain becomes a low-carbon economy is now an economic priority as well as an environmental imperative."
Hauliers brought much of London's traffic to a standstill
Mr Cable, a former economist at Shell, said if he were chancellor he would wait before making a decision on the 2p fuel duty rise - but added he could not see an easy way to pay for scrapping it.
"We have to wait until the autumn and we have to see what conditions are like," he told BBC Radio 4's Today programme."We have to wait until the autumn and we have to see what conditions are like," he told BBC Radio 4's Today programme.
"There's no point rushing ahead with a decision on that. It may be that the world oil price will fall very substantially in the intervening months and the problem will seem to have dissipated somewhat."There's no point rushing ahead with a decision on that. It may be that the world oil price will fall very substantially in the intervening months and the problem will seem to have dissipated somewhat.
"But I would have the problem, if I was chancellor, of getting the money somewhere else and it isn't altogether obvious where the money would come from.""But I would have the problem, if I was chancellor, of getting the money somewhere else and it isn't altogether obvious where the money would come from."
On Tuesday the Treasury defended its plans to increase duty on more polluting cars registered since 2001 by as much as £200, saying this would increase the incentive to develop and purchase fuel-efficient cars.On Tuesday the Treasury defended its plans to increase duty on more polluting cars registered since 2001 by as much as £200, saying this would increase the incentive to develop and purchase fuel-efficient cars.
'Essential user' rebate'Essential user' rebate
So far, 42 MPs have signed a Commons motion asking the chancellor to reconsider the policy on the grounds that it is retrospective and "unfair" to people who have already bought their cars.So far, 42 MPs have signed a Commons motion asking the chancellor to reconsider the policy on the grounds that it is retrospective and "unfair" to people who have already bought their cars.
Mr Darling is due to meet backbenchers next week to discuss their concerns.Mr Darling is due to meet backbenchers next week to discuss their concerns.
Downing Street says it is keeping an open mind on future tax increases.Downing Street says it is keeping an open mind on future tax increases.
Police said 100 lorries took part in a protest in London on Tuesday. Organisers said the figure was closer to 300.Police said 100 lorries took part in a protest in London on Tuesday. Organisers said the figure was closer to 300.
And in Wales, police said 100 lorries took part in a convoy protest along the M4 motorway. Other estimates put the figure at 170.And in Wales, police said 100 lorries took part in a convoy protest along the M4 motorway. Other estimates put the figure at 170.
The hauliers were demanding an "essential user" rebate of between 20 and 25p per litre on fuel for HGV drivers, without which, they say many will go out of business.The hauliers were demanding an "essential user" rebate of between 20 and 25p per litre on fuel for HGV drivers, without which, they say many will go out of business.
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