Donald Trump has launched a fresh attack on Sir Keir Starmer’s North Sea policies as he said Britain was wasting a “treasure chest” of oil and gas.
The US president accused the Labour Government of driving away energy companies with a barrage of high taxes, which is piling pressure on households in the form of inflated energy costs.
Energy companies in the North Sea have been hampered by the government’s decision to increase the oil and gas windfall tax from 75% to 78% last year, while also extending the levy for an extra year to 2030.
This has been compounded by Ed Miliband’s decision to ban all new drilling in the North Sea, as the Energy Secretary seeks to prioritise renewables to help Britain achieve net zero.
Writing on his Truth Social platform, Mr Trump said: "North Sea Oil is a TREASURE CHEST for the United Kingdom. The taxes are so high, however, that it makes no sense. They have essentially told drillers and oil companies that, “we don’t want you.” Incentivize the drillers, FAST. A VAST FORTUNE TO BE MADE for the UK, and far lower energy costs for the people!"
The post came just 24-hours after Mr Trump was asked to "talk sense" into his British counterpart on the future of UK oil and gas during the visit.
Writing in the Press & Journal, Russell Borthwick, Chief Executive at Aberdeen & Grampian Chamber of Commerce, highlighted that it had been 600 days since Mr Starmer last visited Aberdeen - and that 5,000 energy jobs have been lost in that time.
"It is not a lack of opportunity – or appetite to invest – that is killing off the North Sea, one of our greatest national assets," he said, "It is being killed off by policy".
He said the 78% Energy Profits Levy on excess profits "which are long gone" is the single biggest reason "why investment is vanishing, and jobs are being lost".
"We have essentially slapped a Trump Tariff on ourselves," he said.
Mr Borthwick added: "So, if you're reading this, Mr President, and energy comes up during your meeting – ask Sir Keir why the UK is turning its back on an industry which, with the right fiscal conditions, can generate an additional £165billion of GVA.
"Ask him why Norway, with a stable fiscal regime and long-term thinking, is investing and contributing to European energy security while the UK goes in the other direction.
"Ask him why this country is risking its world-class supply chain and the critical skills that will power our net zero future.
"And if you can help us, please do."