AXE WINDFALL TAX TO HELP US GET GREENER

Oil & gas boss claims firms will invest in cleaner

- DAN VEVERS

NORTH Sea chiefs have claimed taxing the megaprofits of oil firms will hamper investment in the green energy transformation.

David Whitehouse, CEO of industry body Offshore Energies UK (OEUK), said he acknowledged public anger over fossil fuel firms raking in astronomical profits while Scots struggle with fuel bills.

But he defended the sector as a major contributor of tax and jobs.

Whitehouse spoke to the Record as OEUK today launches a manifesto calling for politicians to back a "homegrown" energy transition that accepts the need for oil and gas for decades to come.

And he insisted the windfall tax should only stay in place while "windfall conditions" remain warning it could discourage firms from investing in new schemes.