The SNP’s new energy spokesman has accused the UK Government of “mismanaging” oil and gas policy for years and warned ministers it was “about time they treated the industry seriously”.
Drew Hendry called for the energy minister position to be turned into a more senior role.
And he repeated appeals for a “legacy approach” to ensure there is “something in the bank” for the effort that has gone into the North Sea.
He also insisted carbon capture and storage (CCS) schemes could be “reinvigorated” if the UK Government ended the “fantastic waste” of funds on projects like Hinkley Point.
The Highland MP took over the Westminster business, energy and industrial strategy brief from Callum McCaig, who lost his seat at the general election.
In his first interview with the Press and Journal since being appointed, Mr Hendry described a “long-term pattern of failure to use the enormous benefit we get from the value of oil and gas” to reinvest in both an oil fund, like Norway’s, and the sector itself.
He added: “The fact is the UK Government has been mismanaging oil and gas policy for some considerable time.
“There needs to be a cohesive approach to see how we can make sure the benefits are retained in the future … and that there is – even at this late stage – a legacy approach to ensure we have got something in the bank for the effort that has been put into the North Sea.”
Asked about the frequent turnover of UK energy ministers, the former Highland Council leader, whose background is in business, questioned the junior nature of the post.
He said: “This is a huge business that makes a massive difference to the balance of payments and to the Chancellor of the Exchequer.
“You would think it would be a very high priority, but I think it tells you everything, the fact we have had 19 ministers in 19 years, and it is about time they treated the industry seriously as the major economic driver it is.
“What we have seen to date is a deficit in terms of taking the industry seriously as part of the industrial mix.
“You have a lot of time spent taking the value out without actually trying to make sure there are policies put in place to stimulate the business.”
On the future of CCS and renewable technologies like wind and tidal, he said he could not respond without talking about Hinkley Point nuclear power station.
Mr Hendry, who represents Inverness, Nairn, Badenoch and Strathspey, added: “The government is spending billions upon billions … for a fraction of the cost, they could invest in a range of other parts of the industry that could return on that investment.
“If there is sense seen over some of the fantastic waste on projects such as Hinkley Point, then there is no reason why schemes such as the carbon capture programme can’t be reinvigorated.”
A Department for Business, Energy and Industrial Strategy spokesman said the UK Government was committed to supporting the oil and gas industry, pointing to the £2.3billion package of support already provided to create “one of the most competitive tax regimes” in the world.
He also pointed to the establishment of the Oil and Gas Authority as a “strong, independent regulator and industry champion”.