A photo taken on October 29, 2024 shows a panoramic view of the Trump International Golf Links and its dunes in Balmedy, Aberdeenshire, Scotland. Construction work on the second golf course is underway.
Andy Buchanan | AFP | Getty Images
US President-elect Donald Trump on Friday called on Britain to “open up” the North Sea and accused the country’s Labor government of having “made a huge mistake” with its energy tax policy.
His comment is report Apache, a unit of U.S. oil and gas producer APA Corporation, plans to end operations in the North Sea by the end of 2029.
The Texas-based company SEC filing Last year, the impact of the UK’s windfall tax (officially known as the ‘policy’) made continued production in the UK’s North Sea uneconomical. energy profit tax (EPL).
“Britain is making a very big mistake. Open the North Sea. Remove the windmills!” playing cards said on the social media platform Truth Social.
Last October, Britain’s ruling Labor Party announced that it would raise the windfall tax on North Sea oil and gas producers from 35% to 38% and extend the end of the policy until March 2030.
Money raised from the windfall tax will be used to support the UK’s transition away from fossil fuels, which the government claims 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 Pencader, south Wales, on August 20, 2024.
Ben Bircholl | AFP | Getty Images
CNBC contacted the UK Department of Energy and Security Net Zero spokesperson for a response to Trump’s social media posts.
Shell declined to comment when contacted by CNBC. Britain’s top North Sea producer Harbor Energy and energy giant BP did not immediately respond.
The North Sea is considered one of the best sources of stable offshore wind energy in the UK, and along with the UK, several European countries pledged The aim is to transform the region into Europe’s largest “green power plant”.
But the fast-growing offshore wind sector has endured tough times in recent years, hampered by rising costs, supply chain disruptions and rising interest rates.
