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September 2023 - Oil and Gas

Survey reveals that three-quarters of Scots are in favour of domestic production of oil and gas: A survey by True North has found that three-quarters of people in Scotland polled are in favour of the production of oil and gas in Scotland, compared with 14% of respondents who consider domestic production to be a negative measure.

In July 2023, hundreds of new oil and gas licences were announced by Prime Minister Rishi Sunak, which will start to be awarded in autumn 2023. The survey revealed that less than a quarter of Scots believe that the granting of these new licences is the wrong decision. It comes as oil and gas revenues rose to a record high (£9.4 billion raised in 2022/23), following the introduction of the Energy Profits Levy (EPL), a mechanism to tax the profits of oil and gas companies at 75%.

However, answering questions about the levy and the impact they believe it has had, three in five people polled said that they are not convinced that it has helped to reduce the cost of household bills or has helped to steer energy company towards renewable technologies.

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.

“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."

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