OIL and gas entrepreneur Algy Cluff has said the Government could provide a multi-billion pound boost to the hard-pressed North Sea industry by cutting the subsidies provided for offshore wind farms. Mr Cluff said the Government could use the savings produced to help firms lift flagging exploration rates in the North Sea creating benefits in areas ranging from energy security to employment. Oil and gas industry leaders have voiced concern that North Sea exploration budgets have been slashed amid the crude price slump, raising the prospect of billions of barrels oil and gas being left undeveloped. However, Mr Cluff believes the government could kick start a recovery by encouraging small firms to fill the gap left by the retreat of the majors.
Herald 25th Aug 2016 read more »