General – Politics
Donald Trump wants the North Sea to be reopened for oil exploration and wind turbines removed.
Trump made that call Friday in a post on his social media platform Truth Social. He was responding to plans by Apache, part of US oil and gas producer APA, to leave the North Sea by the end of 2029.
More and more oil and gas companies are pulling out of the North Sea. This is partly due to the UK government’s plan to increase the extra tax for North Sea oil and gas producers from 35 to 38 percent and extend the levy by one year.
The UK government wants to use that extra revenue from oil and gas to fund renewable energy projects. North Sea oil and gas producers have already warned that the higher tax rate will lead to a sharp drop in investment and withdrawal from the area.
