Summary
Donald Trump criticized the U.K.'s renewable energy focus, calling to “open up” North Sea oil production and abandon wind turbines.
His comments followed reports of declining North Sea oil production and U.S. company Apache’s planned exit by 2029.
Oil firms have reduced investments due to higher taxes and declining resources, while the U.K. aims to decarbonize its energy sector by 2030, expanding offshore wind power.
However, the offshore wind industry faces financial challenges, including rising costs and reduced investments, prompting debates on balancing energy security and green transition goals.
O&G production is in massive decline in the UK. Norway ramps up production to sell to Europe.
UK will just import more LNG from Qatar instead of drill more wells off the English coast and let its industry die. It’s the coal mines all over again.