North Sea oil and gas losing investments, says report
BBC Scotland's environment correspondent
It says a continued lack of investment would see production fall by 80% by 2030, increasing reliance on imports.The Energy Profits Levy - which the industry opposes - saw headline tax rates increase last year from 40% to 75%.Energy firms call for windfall tax to fall with prices Ross Dornan, from OEUK, said: "By the mid-2030s, according to the Climate Change Committee, oil and gas will still provide half our energy needs."We should be aiming to get as much as possible of that energy from our own resources - meaning the North Sea.
It says that delays to planning consents and grid connections are slowing down the rate of deployment but also warns that financial uncertainties linked to the windfall tax are putting projects in jeopardy. "The UK must make sure that our legacy oil and gas industry doesn't slow the pace of change here and hold us back."
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