Most Scots in favour of new oil and gas, survey finds

Oil and gas revenues recently rose to a record high

Author: Finlay JackPublished 25th Aug 2023
Last updated 25th Aug 2023

Less than a quarter of Scots believe new oil and gas licenses awarded by the UK Government are the wrong decision, according to a new survey.

The True North poll also finds that three out of every five people aren't convinced that the controversial Energy Profits Levy (EPL) - which taxes profits from oil and gas companies at 75% - was helping to reduce household bills or driving energy firms towards renewable technologies.

It comes after the latest GERS figures showed that Scotland's share of oil and gas revenues is at a record high, with £9.4 billion raised in 2022/23 following the introduction of the EPL.

Three-quarters of Scots favour domestic production of oil and gas, with less than 14% considering domestic production to be a negative influence.

Public 'squarely behind' new licenses

Commenting, True North Managing Partner Fergus Mutch said:" In a series of polls commissioned by True North over the past year, we’ve looked closely how the UK’s energy sector is perceived by the public at large and whether this tallies with government policy.

“Overall, the Scottish public considers the energy sector an economic force for good. They want North Sea reserves used while we still need oil and gas as part of the mix as we transition to greener sources of energy.

“By utilising those resources at hand we can ensure that the jobs and economic benefits are realised here in the UK, and avoid the cliff-edge scenario of investment and critical skills being lost to overseas.

“The recent announcement of new oil and gas licences gives industry greater clarity and grounds for confidence — and our poll puts public opinion in Scotland squarely behind such an approach.

“Nobody is in any doubt about the scale of the challenge in reaching net zero and the effort that must go into decarbonising energy to tackle climate change. That task will require both focus and finance in close partnership between industry and government.

“But the protection and creation of jobs and need to ensure Scotland’s world-class energy leads that global energy revolution means we must manage the transition carefully.

“The Energy Profits Levy, or so-called ‘windfall tax’, is another barrier to unlocking the critical investment in energy that is required. While it might, in principle, have popular appeal our study shows that people are unconvinced of its impact in lowering the burden of household bills or in driving firms to invest in renewables.”

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