Trump says Britain is 'making a very big mistake' with windfall tax on North Sea oil producers

U.S. President-elect Donald Trump criticized Britain’s Labour government for its energy tax policy in the North Sea, urging them to “open up” the region and eliminate windmills. This came in response to U.S. oil producer Apache’s decision to end operations in the North Sea by 2029 due to the impact of Britain’s windfall tax. The Labour Party had increased the windfall tax on oil and gas producers to 38% to support the country’s transition away from fossil fuels, aiming to enhance energy security and independence.

Full Article