THE SNP have issued a warning to the Labour Party after an energy giant pulled out of a North Sea project due to “negative political rhetoric” in the run-up to the General Election.
Deltic Energy said it had been unable to secure funding for its Pensacola appraisal well and blamed “deteriorating sentiment towards the oil and gas industry as a result of ongoing fiscal volatility and negative political rhetoric in the run-up to the July election”.
It comes after recent comments from the company which said “rhetoric emanating from the Labour Party” was deterring long-term investment in the North Sea.
“This has resulted in many operators diverting capital away from the UK continental shelf or delaying investment decisions, especially with respect to new large-scale opportunities like Pensacola,” it said.
The company’s chairman, Mark Lapping – who is also a Labour Party election agent in the battleground seat of West Aberdeenshire and Kincardine – previously said that the company could be forced to pull out of the Pensacola project due to the difficulty of attracting investment.
READ MORE: Scots back independence and Tories face total wipeout, new poll finds
Keir Starmer’s party has made clear that it plans to introduce a “proper windfall tax” which would raise £10.8 billion over five years by increasing the current tax from 75% to 78% and extending the levy by a year until 2029.
However, independent analysis carried out for Offshore Energies UK warned that more than 100,000 jobs in the sector could be put at immediate risk as a result of the plan.
Dave Doogan, the SNP’s candidate for Angus and Perthshire Glens, said Deltic’s pulling out of the project was sign of more to come under Labour’s plans.
“Deltic’s decision to pull out of the North Sea must act as a warning to Sir Keir Starmer’s Labour Party – or face a jobs exodus in the North East of Scotland,” he said.
"With 100,000 posts set to fall under Sir Keir Starmer's axe, it’s clear only the SNP will oppose these destructive plans and put Scotland's interests first.
"This is the cold, hard reality of Labour Party plans for Scotland.
"There are three options now on the table for voters: a Labour Party who pose an immediate risk to 100,000 jobs; a Tory Party who pose an immediate risk to delivering Net Zero; or the SNP who will put Scotland first by protecting the oil and gas workforce we have today in order to develop the net-zero jobs and economy of tomorrow.
"Moreover, not only will the Labour Party shore up private finance, they will starve the industry of public investment because they've scrapped their £28bn green pledge.
“Be in no doubt, under the Labour Party, the just transition is dead.
“Rather than continuing to allow Scotland’s profits to flow directly to Westminster, the SNP is clear that every penny raised from the North Sea should be reinvested in Scotland to cut energy bills, create Scottish jobs and secure our green energy future.
“On July 4, vote SNP for a future made in Scotland, for Scotland."
During last night’s BBC Debate Night election special, Scottish Labour leader Anas Sarwar insisted the windfall tax would be used “to lower peoples bills and invest in the jobs of the future".
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