Jim Johnson, CEO of Hunting—Britain’s oldest oil and gas company—stated that the company will no longer invest in the United Kingdom due to the country’s “insane” policies, according to The Telegraph.

“Britain has become unfit for investment. Everything politicians have done has shown me that they cannot be trusted. So why should I make major investments here? That will never happen—the UK has become less attractive for investment than Venezuela,” he said.

According to Johnson, British Prime Minister Andy Burnham’s hopes for industrial revival are “doomed” due to unpredictable political decisions and “extortionate” taxes on oil and gas.

In 2022, British Prime Minister Rishi Sunak introduced a 38% tax on the excess profits of oil and gas companies, which was raised by the Labour Party to 78%. The industry has suffered from a ban on new drilling imposed by former Energy Minister and current Foreign Secretary Ed Miliband.

#UK #Energy #Economy #FindTruth

@uinhurricane✅