Donald Trump's Venezuela actions 'show why UK must move away from oil and gas', says Labour minister

Energy minister Martin McCluskey said the situation in the South American country “points towards why it's even more important” the UK makes sure it is “no longer relying on on foreign oil and gas reserves.”

But the Inverclyde and Renfrewshire West MP would not say if the US President’s plans to use Venezuela’s crude oil reserves would reduce UK energy bills.

The USA removed Venezuelan President Nicolás Maduro from power last week.

Mr Trump has since said that Venezuela “will be turning over” up to 50 million barrels of oil - worth £2.1bn - to the USA.

Reports have suggested that this could drive down the market price for oil.

When asked if Mr Trump’s actions in Venezuela would bring down UK energy prices, Mr McCluskey said: “Look, it's obviously a highly volatile and moving situation.

“In this brief as minister for energy consumers, I'm not as involved in that as others in the department.

“I think what I would say is, it points towards why it's even more important that we move away from volatile oil and gas.

“And why we are totally focused on making sure that we have energy system that is based on clean renewable energy that we are in control of in this country and that we're no longer relying on on foreign oil and gas reserves.”

Mr Trump has said that he plans to produce enough oil from Venezuela to drive down the US oil price from more than $56 a barrel today to about $50 in a bid to cut consumer energy costs.

But some experts have suggested it could cost tens of billions of dollars and take a decade.

Venezuela currently holds the world’s largest oil and gas reserves at 303.2 billion barrels. This is more than Saudi Arabia (267.2 billion barrels), Iran (208.6 billion) and Canada (170 billion).

Mr McCluskey said the UK Government was still committed to reducing UK energy bills by £300, which it committed to do before the general election.

He said: “On the on the pledge of £300 reduction in bills. That pledge still stands, and we pledge to meet that over the course of the Parliament.”