WHEN POLITICAL IDEOLOGY SMASHES INTO THE BRUTAL REALITY OF HUGE SPENDING ASPIRATIONS VS TREASURY DATA THAT IS 12mths OUT OF DATE. WE KNOW WHO’s LEFT ALREADY ✈️
I SAID IT 18MTHS AGO & SAYING IT AGAIN, DOWNSCALING NET ZERO AND RE-INVIGORATING THE NORTH SEA IS THE ONLY NEEDLE - MOVER FOR THE TREASURY!
So, guess what: Burnham to announce plans for new North Sea oil drilling https://www.telegraph.co.uk/politics/2026/07/18/burnham-to-announce-plans-for-new-north-sea-oil-drilling/
UK ENERGY/ NORTH SEA ALPHA: As an inevitable relaxation of Net Zero has beeen a 2yr+ call here and the valuations of North Sea and some UK listed Energy assets were some of the most mispriced Equities anywhere Globally. So If Prime Minister Burnham truly is serious, this validates one of Nutstuff’s highest-conviction UK calls of the past two years: the North Sea is the only genuine fiscal needle-mover left. Ignore the politics and read the OBR. That’s why we’ve backed Jersey Oil & Gas, Harbour Energy, EnQuest, Serica, Kistos, Ithaca, Pantheon and Orcadian while most investors wrote the sector off. Taxes redistribute wealth; energy creates it. The market may finally be catching up with the arithmetic.
The Telegraph
Burnham plans to fast-track North Sea oil drilling
Labour leader expected to pledge to speed up work on undeveloped sites – but new licences are off the table
July 18, 2026 177
