Oil extraction is entirely pointless when OPEC will simply adjust their output to maintain their required market rate. In other words, prices are fixed by a group of incredibly wealthy individuals who live in countries where power and fuel are dirt cheap. Our planned output, even if entirely sold off to create British income, wouldn’t put a dent in the supplies, which means it won’t be making a dent on prices and, should it do so, as said previously, the effects will be reversed rapidly by a decrease in output elsewhere.
Why we can’t extract, refine and use oil entirely within our own country is a mystery to me. The capability exists but political minds just don’t see the benefits.
I'm Autistic, if I say something you find offensive, please let me know, I can guarantee it was unintentional.
I'll try to give my honest opinion but am always open to learning.
Mark