BusinessPostCorner.com
No Result
View All Result
Thursday, August 6, 2026
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Burnham says he told Trump UK will be pragmatic about North Sea oil

July 30, 2026
in Business
Reading Time: 3 mins read
A A
0
Burnham says he told Trump UK will be pragmatic about North Sea oil
ShareShareShareShareShare

Although the government has not made any announcements on the issue, Trump has praised what he perceives as a change of stance by the UK government.

In a social media post, published the day before Burnham became prime minister,, external Trump wrote: “The People of Aberdeen, in Scotland, are dancing in the streets because the new Prime Minister, Andy Burnham, has stated that he will be opening up, all the way, the invaluable North Sea Oil!”

This week, when asked about his conversation with Burnham, Trump said: “He said he’s going to open up North Sea oil.

“If he does that, you’re going to be a wealthy country.”

He later added: “You buy a lot of your energy, as you know, from the North Sea. You buy from Norway and Norway gets it from the North Sea… Norway’s got trillions of dollars in the bank.”

“Scotland has a better part of the North Sea.”

Asked about Trump’s comments, Burnham said: “I indicated in the phone call that we had a week last Monday that I would take a pragmatic approach when it comes to the North Sea, and that is my intention as we go forward from here.”

In response, Green Party leader Zack Polanski said: “Our country is burning. Crops are failing. Thousands have been killed by extreme heat.

“Allowing new oil and gas drilling in the North Sea will worsen the climate breakdown putting more lives at risk and doing untold damage to our economy.

“It’s not too late for Burnham to do the right thing and commit to leaving dangerous fossil fuels in the ground.”

The Conservatives and Reform have urged the government to approve more drilling in the North Sea, arguing it would reduce energy prices.

Last year, Tory Party leader Kemi Badenoch said it would be “absurd” for the UK to leave “vital resources untapped”.

Some Labour MPs have expressed unease about more drilling, with Rachael Maskell urging the government to “follow the climate science because we have got a climate emergency”.

Simon Francis, from the End Fuel Poverty Coalition, said: “No household struggling with their energy bills will see a penny come off by drilling more from the North Sea.

“Gas is sold at the global market prices, so whatever is pumped out is sold to the highest bidder, not handed to British billpayers at a discount.”

Sir Keir’s government had already made concessions, allowing “tie-backs” – production in unlicensed areas close to or connected to already licensed areas.

Currently, the debate over North Sea drilling has focused on two oil and gas fields – Rosebank and Jackdaw, located in Scotland.

In 2022 and 2023, regulators approved drilling at the sites, but that was overturned in 2025 following a legal challenge.

The legal process is ongoing, but the government will at some point have to decide whether to permit companies to produce oil in the two areas.

Other oil and gas licences have been approved in recent years but remain largely undeveloped.

If he wanted to encourage more drilling in the North Sea, Burnham could also opt to scrap the Energy Profits Levy, also known as the windfall tax.

The levy is due to be replaced in 2030 by another windfall tax, which operators prefer because it’s only triggered when prices are high and falls back when they are low.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Ultra-rich are buying up $49 million mansions in London, with ‘Trump unease’ fueling the influx

Next Post

European nations to boycott World Cup in protest at Fifa’s plans

Next Post
European nations to boycott World Cup in protest at Fifa’s plans

European nations to boycott World Cup in protest at Fifa’s plans

Clarkson, the world’s biggest shipbroker, is making record-breaking profits from Hormuz Strait chaos

Clarkson, the world’s biggest shipbroker, is making record-breaking profits from Hormuz Strait chaos

August 3, 2026
Amazon got 0 million in tariff refunds after a lawsuit accused it of favoring Trump

Amazon got $600 million in tariff refunds after a lawsuit accused it of favoring Trump

July 31, 2026
Deutsche Bank sues ex-managers in 6M Monte Paschi spat

Deutsche Bank sues ex-managers in $636M Monte Paschi spat

August 4, 2026
Peterborough families cut school uniform costs at swap event

Peterborough families cut school uniform costs at swap event

August 2, 2026
Russia drone company chief injured in car bombing

Russia drone company chief injured in car bombing

August 5, 2026
YouTube star Hank Green apologizes for ChatGPT overuse, says he will pause video creation

YouTube star Hank Green apologizes for ChatGPT overuse, says he will pause video creation

August 4, 2026
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

5 years after NIL began, college coaches still out-earn the athletes they coach

5 years after NIL began, college coaches still out-earn the athletes they coach

August 5, 2026
In the blogs: Ignorance of the law is no excuse

In the blogs: Ignorance of the law is no excuse

August 5, 2026

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!