Trump criticized the U.K.'s energy policy, suggesting that opening the North Sea and removing windmills would remedy investment declines in oil and gas production.
Amid rising costs and tax increases, North Sea oil companies are exiting, worried the new tax regime will stifle further investment and production.
Britain is on a trajectory to decarbonize by 2030, aiming to significantly increase offshore wind capacity, despite recent investment challenges in renewable energy.
The government’s windfall tax on North Sea oil and gas producers is part of a broader strategy to fund renewable projects, drawing mixed responses from industry.
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