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United States President Donald Trump has expressed support for the plans of the new British Prime Minister, Andy Burnham, regarding the development of the oil and gas sector in the North Sea.
In a post on the Truth Social platform, Trump described the North Sea as one of the most valuable oil reserves in the world, claiming that its exploitation could transform the British economy.
"It is one of the largest sources of quality oil on Earth... and will take the United Kingdom from a poverty-stricken disaster to one of the richest countries anywhere in the world!" Trump wrote.
However, Andy Burnham has yet to announce whether he will approve new licenses for drilling in the North Sea. The Labour Party pledged in its 2024 election manifesto that it would not grant new licenses for oil and gas exploration.
Despite this, the British government may proceed with two major projects, Jackdaw and Rosebank, which were licensed by the previous Conservative government and are currently the subject of litigation.
According to official data, oil and gas production in the United Kingdom has fallen sharply over recent decades, from around 4.6 million barrels of oil equivalent per day in 1999 to 1.1 million barrels in 2024. However, authorities estimate that proven reserves of around 2.9 billion barrels remain in the North Sea.
Experts point out that increasing domestic production is not expected to significantly reduce energy bills, as prices are determined by international markets. However, higher production could increase tax revenues and economic activity.
Meanwhile, the oil and gas industry is calling for a policy change to support domestic production, while environmental organizations argue that the future should rely on renewable energy sources.
Ky eshte fantastik per biznes, vetem per politike nuk ia thote.