all these threats about ‘deterring investment’. who gives a hot gay fuck about any of that, the only people who ever reap the benefits of resource extraction investment are the C-Suite and the shareholders. removing the checks and balances on these companies only enriches them, there is nothing to be gained for us, so tax the fuck out of them.
I’m sure ‘Mike Tholen, acting chief executive of Offshore Energies UK’ doesn’t have a vested interest and his opinion can be trusted entirely…
The only thing these cunts have been investing in is dividends.
In other news, Count Dracula warns against curtailing the opportunities for vampires to persue their night time activities.
This is horse shit, no company is going to turn its back on a profitable market, even if taxes make it slightly less profitable.
Bernard Looney, the bp CEO, confirmed that the current windfall tax made no impact on planned investments (despite his earlier warnings). This seems like more of the same.
The whole fucking *point* of a windfall is that it’s over and above what was already in the budget and assigned to future investments. Unless they can demonstrate the need for these additional profits and give a fully costed explanation of how they are planning to invest them, they should just be treated as surplus to requirements and taxed at as close to 100% as possible. None of these companies has done anything to deserve the extra cash.
Turkey says “ Do we really need Christmas?”
The idea that it will be hard to get people to invest in North Sea oil is laughable. Energy companies will make £170billion more profit than they expected. If we took 2/3 of that they still got an unexpected £50b windfall.
But regardless drilling oil is basically a money printing machine. Nobody is going to say ‘well I could invest in that but if I unexpectedly make a ton of money someone might take 2/3 of it.’. And if they do then someone else will come along and invest money instead and the money printing machine will get a different owner.
The idea that we would have these untapped oil fields and be hunting around for someone to exploit them is just stupid.
But then if you just made billions it’s probably quite easy to get a think tank to say whatever you want …
They’re pretty terrible businesses if they are lining investments up based on exceptional profits related to short term external factors.
They are experiencing windfall profits simply because the value of the commodity they hold has been driven up by a war – not that they are good businesses. Their costs to extract the gas and oil haven’t changed one bit and if energy prices stay where they are then energy consumers will soon go bust or transition to renewables – leaving them with a much smaller market.
It’s in the producers interest to sacrifice unexpected revenue to sustain their future market. But it’s not in their directors interests to forgo bonus before they sod off elsewhere..
Why what are they going to do? Charge us extortinate sums to the point that society is shouting at a corrupt and neglectful government to do something, only to have them borrow 200 billion on the country’s credit card to pay said energy companies to keep prices low and still charge the citizens of the country a long term tax and ignore the complete and wilful incompetence that they’ve displayed over the course of four years and four prime ministers, each iteration of which would be a poor, shambling, increasingly more bottom of the barrel choice while the nation watches on in horror, helpless to object while the country proceeds to be systematically raped and mined for wealth over the next two years, further demonstrating that the entire party seems to be comprised of sociopaths and that we are in fact living in some kind of dystopian future where the UK is some kind of nightmarish autocracy?
Man, what a crazy world that would be. I should read less Sci fi.
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all these threats about ‘deterring investment’. who gives a hot gay fuck about any of that, the only people who ever reap the benefits of resource extraction investment are the C-Suite and the shareholders. removing the checks and balances on these companies only enriches them, there is nothing to be gained for us, so tax the fuck out of them.
I’m sure ‘Mike Tholen, acting chief executive of Offshore Energies UK’ doesn’t have a vested interest and his opinion can be trusted entirely…
The only thing these cunts have been investing in is dividends.
In other news, Count Dracula warns against curtailing the opportunities for vampires to persue their night time activities.
This is horse shit, no company is going to turn its back on a profitable market, even if taxes make it slightly less profitable.
Bernard Looney, the bp CEO, confirmed that the current windfall tax made no impact on planned investments (despite his earlier warnings). This seems like more of the same.
The whole fucking *point* of a windfall is that it’s over and above what was already in the budget and assigned to future investments. Unless they can demonstrate the need for these additional profits and give a fully costed explanation of how they are planning to invest them, they should just be treated as surplus to requirements and taxed at as close to 100% as possible. None of these companies has done anything to deserve the extra cash.
Turkey says “ Do we really need Christmas?”
The idea that it will be hard to get people to invest in North Sea oil is laughable. Energy companies will make £170billion more profit than they expected. If we took 2/3 of that they still got an unexpected £50b windfall.
But regardless drilling oil is basically a money printing machine. Nobody is going to say ‘well I could invest in that but if I unexpectedly make a ton of money someone might take 2/3 of it.’. And if they do then someone else will come along and invest money instead and the money printing machine will get a different owner.
The idea that we would have these untapped oil fields and be hunting around for someone to exploit them is just stupid.
But then if you just made billions it’s probably quite easy to get a think tank to say whatever you want …
They’re pretty terrible businesses if they are lining investments up based on exceptional profits related to short term external factors.
They are experiencing windfall profits simply because the value of the commodity they hold has been driven up by a war – not that they are good businesses. Their costs to extract the gas and oil haven’t changed one bit and if energy prices stay where they are then energy consumers will soon go bust or transition to renewables – leaving them with a much smaller market.
It’s in the producers interest to sacrifice unexpected revenue to sustain their future market. But it’s not in their directors interests to forgo bonus before they sod off elsewhere..
Why what are they going to do? Charge us extortinate sums to the point that society is shouting at a corrupt and neglectful government to do something, only to have them borrow 200 billion on the country’s credit card to pay said energy companies to keep prices low and still charge the citizens of the country a long term tax and ignore the complete and wilful incompetence that they’ve displayed over the course of four years and four prime ministers, each iteration of which would be a poor, shambling, increasingly more bottom of the barrel choice while the nation watches on in horror, helpless to object while the country proceeds to be systematically raped and mined for wealth over the next two years, further demonstrating that the entire party seems to be comprised of sociopaths and that we are in fact living in some kind of dystopian future where the UK is some kind of nightmarish autocracy?
Man, what a crazy world that would be. I should read less Sci fi.