WoodMac: $30 Billion In UK Energy Investments At Risk Ahead Of Elections

Some $30bn (£24.2bn) of investment in new UK energy projects is at risk if Labour wins the next election, a top energy consultancy has warned. Consultancy giant Wood Mackenzie believed the growing expectation of a Labour government – which has pledged to ban new North Sea oil and gas developments – was already causing energy firms to pivot from the UK.

The Conservative government’s windfall tax has already angered many oil and gas firms, with several currently reconsidering their pipeline of UK projects. But it added that…