March 3, 2026 | SUNTV Global Channel
United States President Donald Trump has called on British Prime Minister Keir Starmer to urgently reopen large-scale oil and gas drilling in the North Sea, warning that the ongoing conflict with Iran could plunge the United Kingdom into a deeper economic crisis.
Speaking amid rising global tensions, Trump said Britain must act swiftly to shield its economy from spiralling energy costs triggered by the escalating Middle East war.
“Open up the North Sea. Immediately. Your energy prices are through the roof,” Trump said, insisting that expanding domestic production would ease pressure on British households and businesses.
Energy Markets In Turmoil
European wholesale gas prices surged by 20 percent on Tuesday, adding to a 40 percent spike recorded just a day earlier as geopolitical tensions intensified.
Global oil markets also reacted sharply. Brent crude — the international benchmark — rose by as much as 3.5 percent in early trading, pushing prices above $80 per barrel. Analysts warn that prices could climb toward $100 per barrel if hostilities involving Iran continue.
The energy shock is expected to worsen inflation in the UK, creating fresh pressure for Chancellor Rachel Reeves ahead of her upcoming Spring Statement.
Policy Clash Over North Sea Drilling
Since returning to the White House in 2025 under his renewed “drill, baby, drill” agenda, Trump has repeatedly criticised Britain’s energy strategy.
Under Starmer’s Labour government, windfall taxes on oil and gas companies were increased to 78 percent and extended until 2030. New exploration licences have been restricted, and several investment incentives scrapped — measures critics argue are discouraging domestic production.
Trump previously described the North Sea as a “treasure chest for the United Kingdom,” while members of his administration accused British officials of stifling the country’s oil and gas sector.
Supply Fears Deepen Crisis
The situation worsened after QatarEnergy temporarily shut down a refinery following an alleged Iranian drone strike, raising fresh concerns about supply disruptions. Although Britain sources only a small percentage of its gas from Qatar, market uncertainty has amplified price volatility.
Currently, the UK remains heavily dependent on imported fossil fuels, particularly from Norway and the United States — a reliance energy analysts say exposes the country to global supply shocks.
Alasdair Locke, Chairman of Motor Fuel Group, warned that British motorists could soon feel the impact of rising wholesale costs at the pump. He criticised the government’s energy transition strategy, arguing that restricting domestic production while increasing dependence on imports undermines national energy security.
Untapped North Sea Potential
According to the North Sea Transition Authority, UK waters still hold an estimated 2.9 billion barrels of oil equivalent in proven and probable reserves. A further 6.2 billion barrels are considered likely recoverable, while 4.6 billion barrels remain in unexplored prospects.
As the Iran conflict continues to rattle global markets, pressure is mounting on the British government to balance climate commitments with immediate economic realities.
For now, energy security has returned to the centre of international politics — with Washington openly urging London to drill its way out of crisis.
— SUNTV Global Channel Reporting
