Trump Urges UK to Tap Its “Treasure Chest” in North Sea Oil
In yet another international policy jab, U.S. President Donald Trump on Monday turned his attention to the United Kingdom — this time, over its management of North Sea oil reserves. Writing on Truth Social, Trump called the region’s energy resources a “TREASURE CHEST” waiting to be unlocked, but said excessive taxation was driving oil companies out.
“They have essentially told drillers and oil companies that, ‘we don’t want you,’” Trump wrote. “Incentivize the drillers, FAST. A VAST FORTUNE TO BE MADE for the UK, and far lower energy costs for the people!”
The message, posted July 29, 2025, was unprompted by any known diplomatic exchange — and it’s unclear if it was coordinated with any ongoing U.S.–UK energy talks. Still, the critique taps into an existing tension within Britain’s energy debate.
Britain’s oil dilemma: revenue vs. reinvestment
To be fair, Trump’s not entirely off-base. The UK’s North Sea oil production has seen a sharp decline in recent years, and tax policies have played a role. Following the energy price spikes of 2022, the UK government introduced what it called a windfall tax on oil and gas profits — officially the Energy Profits Levy — raising the marginal tax rate on North Sea operators to 75% in some cases (BBC).
That move was aimed at capturing extraordinary profits and directing them toward consumer relief. But the oil industry has repeatedly warned that the tax, combined with regulatory uncertainty, is deterring investment. Major players like Harbour Energy and EnQuest have scaled back or delayed projects, citing an unpredictable fiscal environment (Reuters).
Trump, never shy about fossil fuel advocacy, is effectively arguing the UK is sitting on economic gold — but choosing not to dig.
A transatlantic energy pep talk?
Why is the U.S. president weighing in on British energy policy? That’s harder to pin down. Perhaps it’s a nudge to Western allies to prioritize energy independence at a time when global markets remain unstable. Or maybe — and this wouldn’t be surprising — Trump sees a politically useful contrast between his own energy-first platform and what he views as Europe’s overregulation.
To be honest, it reminds me of his repeated messaging during the 2020s shale boom, when he insisted that under the right conditions, domestic drilling wasn’t just viable — it was patriotic. He might be making the same pitch, just swapping Pennsylvania for the North Sea.
Will the UK listen?
Unlikely. British officials have largely defended the windfall tax as a temporary, targeted measure. But that doesn’t mean the pressure isn’t being felt. Earlier this year, the UK’s North Sea Transition Authority reported a 30% drop in new oil and gas investment commitments year over year (Energy Voice).
So Trump’s blunt warning — “incentivize the drillers, FAST” — may not be official U.S. policy, but it’s echoing a concern that’s already simmering in British boardrooms. Whether Downing Street sees it as helpful advice or just another unsolicited comment… well, that’s still unclear.
