Donald Trump Criticizes UK’s Windfall Tax and Wind Energy Policy

[Social Media]

 

Donald Trump has voiced strong criticism of the United Kingdom's energy policies, particularly its reliance on wind energy and the recent hike in windfall taxes on fossil fuel profits. Trump called these moves a "very big mistake" and urged the UK to "get rid of windmills" while opening up the North Sea for more oil and gas production.  

 

In a post on his social media platform, Truth Social, Trump shared a news article from November detailing the withdrawal of a major U.S. oil producer, Apache, from the North Sea. The region, situated off the Scottish coast, is a significant hub for oil production. Trump wrote, "The UK is making a very big mistake. Open up the North Sea. Get rid of windmills!"  

 

 

Apache announced it would cease operations in the North Sea by 2029, attributing its decision partly to the increased windfall tax imposed on fossil fuel companies. The energy profits levy, introduced as a response to surging energy prices following Russia's invasion of Ukraine, was raised to 38% in October by UK Chancellor Rachel Reeves. This marked an increase from the original 25% introduced by Rishi Sunak in 2022.  

 

John Christmann, chief executive of Apache’s parent company, APA Corporation, explained that the investment required to meet UK regulations, combined with the "onerous financial impact" of the windfall tax, made hydrocarbon production beyond 2029 economically unviable. He also noted that substantial investments would be necessary to comply with regulatory requirements, further discouraging long-term commitments in the region.  

Trump's remarks reflect his broader stance on energy production. During his first presidential campaign, he popularized the phrase "drill, baby, drill," signaling his commitment to expanding oil and gas production. He has indicated that increasing domestic energy output will remain a key focus if he secures a second term in office.  

 

The windfall tax, formally known as the energy price levy, was introduced to address record profits reported by many oil and gas companies amid soaring energy prices. The additional revenue was intended to help alleviate the financial burden on households facing skyrocketing gas and electricity bills during a widespread cost-of-living crisis.  

 

Despite its intended benefits, the policy has faced criticism from industry stakeholders, with Apache being one of several firms reevaluating or scaling back operations in the North Sea. Critics argue that the tax discourages investment in the region, potentially undermining the UK’s energy security and economic stability.  

 

As global energy challenges continue, the debate over the balance between promoting renewable energy and maintaining fossil fuel production remains contentious. Trump's call to prioritize oil and gas over wind energy adds a high-profile voice to the conversation, further fueling the discourse on the future of energy policy in the UK and beyond.  

 

Based on a report by Sky News 2024-01-06

 

 

[AndreasHG]

Donald Trump has neither forgotten nor forgiven the United Kingdom for the 11 windmills installed right in front his golf resort in Aberdeenshire.

in 2015, the UK's Supreme Court judges delivered a unanimous ruling, dismissing Donald Trump's objection to the then proposed offshore wind farm.

In 2019, the judges ruled that the Trump International Golf Club Scotland Ltd had to pay the legal bills incurred by the Scottish government.

 

 

[Jingthing]

How is this any of private citizen Donald Trump's business anyway? 

[loong]

3 hours ago, Social Media said:

The energy profits levy, introduced as a response to surging energy prices following Russia's invasion of Ukraine, was raised to 38% in October by UK Chancellor Rachel Reeves. This marked an increase from the original 25% introduced by Rishi Sunak in 2022.  

An increase in tax on energy at the same time as removing pensioners' winter fuel allowance!

[AndreasHG]

29 minutes ago, loong said:

at the same time as removing pensioners' winter fuel allowance!

 

Not in Scotland!

 

 

[jippytum]

Trump never liked the windmills placed

in view of his Scotish golf course. 

Would he prefer they use the land to dig for coal. 

[JonnyF]

2 hours ago, Jingthing said:

How is this any of private citizen Donald Trump's business anyway? 

 

He is entitled to voice an opinion like any other private citizen.

 

He's correct as well, the UK's mad obsession with net zero is making everyone poorer and reducing their quality of life. 

[Chomper Higgot]

13 minutes ago, JonnyF said:

 

He is entitled to voice an opinion like any other private citizen.

 

He's correct as well, the UK's mad obsession with net zero is making everyone poorer and reducing their quality of life. 

You’ve not been back for a while then.

 

’Net zero’ is creating local well paid jobs across the country.

 

[JonnyF]

1 minute ago, Chomper Higgot said:

You’ve not been back for a while then.

 

Not since August. Has much changed for the better since then?

 

1 minute ago, Chomper Higgot said:

 

’Net zero’ is creating local well paid jobs across the country.

 

 

Lots of well paid civil service positions, paid for by the taxpayer. 

 

Meanwhile, increased energy prices for the taxpayer. Despite the majority of pensioners cruelly having their fuel allowance removed by Starmer's nasty party. 

[Woke to Sounds of Horking]

Yet another example of greenwashing by the demented extreme Leftists.

 

People just don't understand that THEY, themselves, are the carbon that has to be neutralised, according to the Leftists' bible that is Agenda 2030.

 

Oil and gas extraction must be done responsibly.

 

No drilling in protected wildlife refuge areas.

[Chomper Higgot]

30 minutes ago, JonnyF said:

 

Not since August. Has much changed for the better since then?

 

 

Lots of well paid civil service positions, paid for by the taxpayer. 

 

Meanwhile, increased energy prices for the taxpayer. Despite the majority of pensioners cruelly having their fuel allowance removed by Starmer's nasty party. 

Do you have a link to this majority you refer to?

 

Something that demonstrates ‘a majority’ will do.

 

We can then examine what’s actually going on

[Chomper Higgot]

19 minutes ago, Woke to Sounds of Horking said:

Yet another example of greenwashing by the demented extreme Leftists.

 

People just don't understand that THEY, themselves, are the carbon that has to be neutralised, according to the Leftists' bible that is Agenda 2030.

 

Oil and gas extraction must be done responsibly.

 

No drilling in protected wildlife refuge areas.

Net Zero was also a policy of the last Tory Government although they did cave to the fossil fuel industry, particularly on the matter of ‘windfall taxes’, choosing instead to subsidize fossil fuel profits with tax payer handouts.

[mrfill]

There are no windmills off the Scottish coast or off any part of the UK coast. What you see does not do any milling so is not a mill.

They are wind turbines, used because the UK is one of the windiest countries in the world. The cost of producing the power is minute compared to oil or nuclear and they can be put in place decades before onshore power stations using high priced fuels like oil or nuclear. North Sea oil is not cheap as its price is based on world prices and it is sold worldwide on the open market.

[Chomper Higgot]

4 minutes ago, mrfill said:

There are no windmills off the Scottish coast or off any part of the UK coast. What you see does not do any milling so is not a mill.

They are wind turbines, used because the UK is one of the windiest countries in the world. The cost of producing the power is minute compared to oil or nuclear and they can be put in place decades before onshore power stations using high priced fuels like oil or nuclear. North Sea oil is not cheap as its price is based on world prices and it is sold worldwide on the open market.

Precisely, increasing production of N.Sea oil and gas does not reduce the price of energy to UK consumers.

 

The price consumers pay is dictated by the global oil and gas market prices.

 

It would however increase the profits of the oil and gas companies operating in the N.Sea.

 

 

[Yagoda]

1 hour ago, JonnyF said:

 

He is entitled to voice an opinion like any other private citizen.

 

He's correct as well, the UK's mad obsession with net zero is making everyone poorer and reducing their quality of life. 

China doesnt have net zero. Their shills here never mention that.

[Yagoda]

9 minutes ago, Chomper Higgot said:

Precisely, increasing production of N.Sea oil and gas does not reduce the price of energy to UK consumers.

 

The price consumers pay is dictated by the global oil and gas market prices.

 

It would however increase the profits of the oil and gas companies operating in the N.Sea.

 

 

Cool. I have stock.

[JonnyF]

27 minutes ago, Chomper Higgot said:

Do you have a link to this majority you refer to?

 

Something that demonstrates ‘a majority’ will do.

 

We can then examine what’s actually going on

 

https://www.bbc.com/news/articles/c4gv632d05lo

 

[JonnyF]

4 minutes ago, Yagoda said:

China doesnt have net zero. Their shills here never mention that.

 

Exactly.

 

And all the doomsday cultists support buying Chinese EV's from the PRC. It seems pollution is fine as long as it doesn't come from the UK. 

[JonnyF]

3 hours ago, Jingthing said:

How is this any of private citizen Donald Trump's business anyway? 

 

Leftist American billionaires would never interfere.

 

[Yagoda]

14 minutes ago, JonnyF said:

 

Exactly.

 

And all the doomsday cultists support buying Chinese EV's from the PRC. It seems pollution is fine as long as it doesn't come from the UK. 

Id go further. "Climate Change" is a weapon for the Socialists to exploit useful idiots in the efforts to destroy the freedom loving West and Capitalism..

[roquefort]

15 minutes ago, JonnyF said:

And all the doomsday cultists support buying Chinese EV's from the PRC. It seems pollution is fine as long as it doesn't come from the UK. 

The idiots don't even realise that their 'green' EVs are produced in Chinese factories powered by coal-fired energy!

[Chomper Higgot]

22 minutes ago, JonnyF said:

 

https://www.bbc.com/news/articles/c4gv632d05lo

 

Oh the winter fuel payments still exist, it’s just that they are now tied to means tested benefits so pensioners below the means tested threshold still get the payments, those on higher incomes, like the millions in receipt of work place pensions don’t get a winter fuel payment because they don’t need it.

 

 

[JonnyF]

5 minutes ago, Yagoda said:

Id go further. "Climate Change" is a weapon for the Socialists to exploit useful idiots in the efforts to destroy the freedom loving West and Capitalism..

 

Couldn't agree more.

 

[JonnyF]

1 minute ago, Chomper Higgot said:

Oh the winter fuel payments still exist, it’s just that they are now tied to means tested benefits so pensioners below the means tested threshold still get the payments, those on higher incomes, like the millions in receipt of work place pensions don’t get a winter fuel payment because they don’t need it.

 

 

 

Someone on 13,000 pounds a year doesn't need it. 😆

 

I presume you haven't been there lately. Or perhaps viewed it from your ivory tower in Islington? 

[Albaby]

1 hour ago, Chomper Higgot said:

You’ve not been back for a while then.

 

’Net zero’ is creating local well paid jobs across the country.

 

Those well paid jobs are dependent on huge subsidies , paid for by  massive increases in taxes.

[Yagoda]

12 minutes ago, JonnyF said:

 

Someone on 13,000 pounds a year doesn't need it. 😆

 

I presume you haven't been there lately. Or perhaps viewed it from your ivory tower in Islington? 

Ouch. We have a posh one here then? One of those public school "not quite our crowd ducky" types?

[RuamRudy]

Sabre rattling at its finest.

Apache operates Forties and Beryl, both fields which have been in production since the 70s; the fields are massively depleted and the very out of date infrastructure requires increasing amounts of maintenance. 

 

Back In the 90s I worked for a company which held a 0.15% stake in Forties. Being young and naïve, I could not understand why we would bother with such a small shareholding in such a minor producer, given the administrative and regulatory costs of doing so. I discussed it with one of the senior analysts and he explained to me that it was used as a write-off location for expenditure carried out on other facilities, because the Forties, being so old, gave massive tax benefits to its owners. It has been operating as a tax sink for decades. 

 

Interestingly. Apache's own website says this: "During the second quarter of 2023, as part of the Company’s focus on capital allocation to optimize investment returns, it suspended all new drilling activity in the North Sea. The Company’s investment program there is now directed toward safety, base production management, and asset maintenance and integrity."

 

So that means no infill drilling and no reserves replacement - just produce as is until it can produce no more. I guess it has reached that point already. 

[Woke to Sounds of Horking]

[blaze master]

What say ye Billy bob.

 

https://m.youtube.com/watch?v=fmbZwxEnAFc&pp=ygURTGFuZG1hbiB3aW5kbWlsbHM%3D

[Chomper Higgot]

3 hours ago, JonnyF said:

 

Someone on 13,000 pounds a year doesn't need it. 😆

 

I presume you haven't been there lately. Or perhaps viewed it from your ivory tower in Islington? 

I’m frequently in the UK, spent much of the past four years there, it’s always a pleasure to visit. I like the place.

 

I don’t recall ever going to Islington.