Donald Trump said the UK was making “a very big mistake” in its fossil fuel policy – and should “get rid of the wind turbines”.
In a post published Friday on his social media platform, Truth Social, Mr. Trump shared news from November that a US oil producer was pulling out of the North Sea, a major oil region off the coast of Scotland.
“The UK is making a very serious mistake. Open the North Sea. Get rid of the windmills! », Wrote the American president-elect.
Texas oil producer Apache announced at the time that it was withdrawing from the North Sea by 2029, in part because of the increase in the windfall tax on fossil fuel producers.
Oil platform in the North Sea. Photo: Reuters
The head of Apache’s parent company, APA Corporation, said in early November that it had made the necessary investments to comply with UK regulations, “coupled with the onerous financial impact of the Energy Profits Levy. exceptional profits), which makes hydrocarbon production beyond 2029 unprofitable. .
Managing director John Christmann added that a “substantial investment” will be required to comply with regulatory requirements.
Mr Trump used a three-word campaign promise “drill, baby, drill” during his successful election campaign, saying he would increase oil and gas production during his second administration.
In October budget announcementChancellor of the United Kingdom Rachel Reeves increased the windfall profits tax levied on the profits of energy producers to 38%.
Called a levy on the price of energy, this is an increase compared to the 25% introduced by Rishi Sunak in 2022 as energy prices soared following Russia’s invasion of Ukraine.
Many oil and gas companies have reported record profits following the price rise.
The tax was intended to support households facing high gas and electricity bills amid a wider cost of living crisis.
Apache is just one of a number of companies that have made the decision to change their North Sea extraction operations due to Labor policies.
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