Market
UK energy policy focus in 2025?
2
Resolution / Starting Odds
Increase fossil fuel production • 25%
Increase renewable energy projects • 25%
Maintain current policy • 25%
Other • 25%
Official UK government policy announcements and legislative records
Story
Trump Urges UK to Open North Sea for Oil Amid Apache's Exit, Criticizes Windmill Policy
Jan 3, 2025, 12:22 PM
U.S. President-elect Donald Trump has criticized the UK's energy policy, urging the country to 'open up' the North Sea for oil and gas extraction and to 'get rid of windmills.' His comments were made in response to the decision by U.S. oil firm Apache, whose parent company is APA, to cease production in the North Sea by 2029, citing the UK's windfall tax on energy profits as making operations uneconomical. Trump's remarks were shared on his social media platform, Truth Social, where he stated that the UK is 'making a very big mistake' by moving away from fossil fuels. The UK government, under Prime Minister Keir Starmer, has increased the windfall tax from 35% to 38% and plans to use the revenue to fund renewable energy projects, aiming to decarbonize its power sector by 2030. Apache expects a 20% production drop in the North Sea in 2025.
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Expansion of North Sea oil and gas • 25%
Decarbonization and renewable energy • 25%
Balanced approach with both renewables and fossil fuels • 25%
Other • 25%
Natural Gas • 25%
Nuclear • 25%
Coal • 25%
Renewables • 25%
Nuclear Energy • 25%
LNG Expansion • 25%
Other • 25%
Renewable Energy • 25%
Balanced approach • 25%
Increase in clean energy focus • 25%
Increase in fossil fuel focus • 25%
No significant change • 25%
Yes, focused on alternative energy sources • 25%
No new policy • 25%
Yes, focused on both storage and alternatives • 25%
Yes, focused on storage expansion • 25%
Regressive actions • 25%
Significant progress • 25%
Moderate progress • 25%
No progress • 25%
Renewable Energy • 25%
Nuclear Power • 25%
Oil and Natural Gas • 25%
Geothermal Energy • 25%