This photo taken on October 29, 2024 shows a panoramic view of the Trump International Golf Links and its sand dunes in Balmedie, Aberdeenshire, Scotland, as construction of a second golf course was underway at the estate on the dunes.
Andy Buchanan | AFP | Getty Images
US President-elect Donald Trump called on Britain on Friday to “open up” the North Sea, accusing the country’s Labor government of “making a very big mistake” with its energy tax policy.
His comment was in response to Report About U.S. oil and gas producer APA Corp.’s Apache plans to end its operations in the North Sea by the end of 2029.
The Texas-based company said in a statement SEC Filings Last year, continued production in the UK’s North Sea became uneconomic due to the impact of the UK windfall profits tax – a policy officially known as the “windfall profits tax”. energy profit tax (Premier League).
“Britain is making a very big mistake. Open up the North Sea. Get rid of the windmills!” Trump explain on the social media platform Truth Social.
The British ruling Labor Party said in October last year that it would increase the windfall profits tax on North Sea oil and gas producers from 35% to 38% and extend the end date of the policy to March 2030.
Funds raised by the windfall profits tax will be used to support the UK’s transition away from fossil fuels, which the government says will strengthen the country’s energy security and energy independence.
British Prime Minister Keir Starmer stands near a wind turbine during a visit to the RWE Brechfa Forest West onshore wind farm in Pencard, South Wales on August 20, 2024.
Ben Birchall | AFP | Getty Images
CNBC has contacted a spokesperson for the UK’s Department for Energy Security and Net Zero for a response to Trump’s social media post.
Shell declined to comment when contacted by CNBC. Top British North Sea producer Harbor Energy and energy giant BP were not immediately available for comment.
The North Sea is considered one of the UK’s best sources of sustained offshore wind energy, and several European countries besides the UK have also promised Turn the area into Europe’s largest “green power plant”.
However, the fast-growing offshore wind industry has gone through a rough patch in recent years, hampered by rising costs, supply chain disruptions and rising interest rates.
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