Trump Tells Starmer: “Open Up the North Sea Immediately”
Donald Trump has urged Sir Keir Starmer to restart North Sea drilling “immediately” to combat soaring energy prices triggered by the US-led war with Iran. The Telegraph has more.
The US President urged the Prime Minister to ramp up oil and gas production as the price of wholesale gas in Europe surged by another 20% on Tuesday, on top of a 40% surge on Monday.
Asked what advice he would give the Prime Minister, Trump told the Sun: “Two very simple things.
“Open up the North Sea. Immediately. Your energy prices are through the roof.
“And stop people from coming in from foreign lands who hate you.
“Open up the North Sea and stop people from pouring into his country from faraway lands.”
Brent crude oil, the international benchmark, rose as much as 3.5% in the early hours on Tuesday, tipping back above $80 a barrel. Some analysts have warned that prices could hit $100 if the Iran war drags on.
Rising oil and gas prices threaten to fuel inflation, presenting a difficult backdrop for Rachel Reeves as she prepares to deliver her Spring Statement on Tuesday.
President Trump has repeatedly urged the Prime Minister to ramp up oil and gas production, having been elected on a promise to “drill, baby, drill” in the US.
By contrast, Labour has increased the windfall tax on oil and gas company profits to 78% and extended it to 2030. The Government has also restricted new exploration licences and scrapped investment allowances.
Trump described the North Sea as a “treasure chest for the United Kingdom” last July, while in September his Energy Secretary said British Ministers were “strangling” the country’s oil and gas industry.
The UK’s recent crackdown on its own sources of oil and gas has been accompanied by a steady rise in reliance on other countries for fossil fuels – mainly Norway and the USA.
Britain also relies on Qatar for 2% of its gas imports. QatarEnergy closed a refinery on Monday after an Iranian strike, fuelling the surge in wholesale prices.
Worth reading in full.
But Ed Miliband told me drilling for our own oil and gas won’t make any difference to our energy costs. And Ed Miliband is never wrong…
Trump’s advice about stopping “people from coming in from foreign lands who hate you” links to his suspicion that Starmer is in hock to Muslim voters and that’s why he failed to support the attacks on Iran.
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