Market
UK's primary energy policy focus by end of 2025?
2
Resolution / Starting Odds
Decarbonization and renewable energy • 25%
Expansion of North Sea oil and gas • 25%
Balanced approach with both renewables and fossil fuels • 25%
Other • 25%
Official UK government energy policy announcements or credible news analyses
Story
Trump Criticizes UK's Windfall Tax Increase, Citing Apache's Exit; Urges 'Open Up North Sea,' 'Get Rid of Windmills'
Jan 3, 2025, 11:02 AM
US President-elect Donald Trump has criticized the UK's windfall tax increase on North Sea oil and gas producers from 35% to 38%, calling it 'a very big mistake' and urging the country to "open up the North Sea" and "get rid of windmills". Trump's remarks, posted on his social media platform Truth Social on Friday, come after US oil company APA Corporation (formerly Apache) announced plans to exit the North Sea by 2029, with production expected to drop 20% in 2025 due to uneconomic operations caused by increased costs and regulations. Britain's Labour government, led by Prime Minister Keir Starmer, aims to decarbonize by 2030, planning to end all new drilling in the North Sea and expand offshore wind energy projects despite investment challenges. Trump's call to bolster fossil fuel production puts him at odds with the UK's commitment to renewable energy and climate goals.
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Similar markets
Increase fossil fuel production • 25%
Increase renewable energy projects • 25%
Maintain current policy • 25%
Other • 25%
Natural Gas • 25%
Coal • 25%
Nuclear • 25%
Renewables • 25%
Other • 25%
Nuclear Energy • 25%
Renewable Energy • 25%
LNG Expansion • 25%
Other • 25%
Economic reasons • 25%
Environmental concerns • 25%
Political pressures • 25%
Increase in fossil fuel focus • 25%
Increase in clean energy focus • 25%
No significant change • 25%
Balanced approach • 25%
Yes, focused on both storage and alternatives • 25%
No new policy • 25%
Yes, focused on storage expansion • 25%
Yes, focused on alternative energy sources • 25%
Solar • 25%
Nuclear • 25%
Fossil Fuels • 25%
Other • 25%
Grid Reliability • 25%
Fossil Fuels • 25%
Nuclear Energy • 25%
Renewable Energy • 25%
Rollback of existing climate policies • 25%
Introduction of new climate policies • 25%
Increase in fossil fuel incentives • 25%
No significant policy changes • 25%
Regressive actions • 25%
Moderate progress • 25%
No progress • 25%
Significant progress • 25%