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We often focus on 100s of millions in poverty: such is the overall size the consumerist bourgeoisie is at least as big as the UK's. And if poor people need cheap energy most of all; the development and installation costs are the issue. Like colour TV & EVs, prices will fall in time.
“ I think you like showing off RNSTranslator with your experience an knowledge of the oil world an accounts.”
I know you find folks pointing out reality on the basis of experience, difficult. As long as you continue to mislead and misinform simply based on your own “belief” and self evident lack of knowledge, I will call it out.
“ Oil price is going to rise, RNSTranslator, and Union Jack Oil will benefit big time.” If only UJOs share price responded to oil and gas price increases. It doesn’t. It’s less that when oil was $70 and gas was 35p a therm and before they get Wressle producing. Why is that Heid. You have to date FAILED to answer that fundamental prop underlying your so called “Thesis”. Come on have a go…
“ Go on say it....air source heat pump ?!!!” As I said naive and illiterate. Domestic supply means “A Supply of energy from within the UK” It’s not something you can put a plug on. An ASHP is a USER of energy not a SUPPLY of energy. Or did you think it runs on air? Perhaps you need to stop digging now.
“What new sources of domestic supply are you suggesting, RNSTranslator ?” Meaningful ones! Increased well stock into existing mature fields. Development of existing satellite discoveries for tie back to host platforms. Platform electrification. Expenditure by the larger companies into offshore wind and associated renewables (eg. Green Hydrogen). Companies with large tax pools and significant debt will of course be mainly unaffected, other than their tax pools will diminish at a faster rate. That enough?
“ It gives people the ability to keep using there heating..” Not only are you economically illiterate but politically naive, you seem to think that demand destruction by pricing out the less fortunate is an acceptable strategy. Anyone can see that when the average energy bill goes from £1200 to nigh on £3000 in 12months that usage will fall, regardless of a whether you get a few hundred quid from Rishi. Expect to see enhanced capital reliefs to push investors towards investing in existing and new sources of domestic supply. Anyone suggesting they’re making so much money they want to return it to shareholders (Hey Bernard/Ben) will face significant tax pain…
She got it wrong / has changed her mind yet again. Yes the windfall tax is very bullish though there are pros an cons to it. It gives people the ability to keep using there heating which does not destroy demand along with other stimulus's that Rishi announces today.
And a few days ago
agree that I do not support a windfall tax nor does Kwasi or the conservative vote. It is seen to deter investment in to oil an gas, jobs etc when we should be encouraging oil production and supply.
So whatever happens we are close to £9,000,000. In cash in the bank which increases by £500,000 per month after all wages and overheads. Lots of other projects and only at the start of ever increasing income and NO debt. This has to break 30p very soon pleeeeease.
“ The windfall tax is bullish for my thesis…” Oh so you’ve done a U turn too, that’s lovely. How is your thesis on the fact that the windfall tax can be mitigated by reinvesting profits back into UK oil and gas ? Are you quite so sure that the company will still prefer to return excess cash to shareholders via a buy back or divi, or will they now claim it’s more tax efficient to “reinvest”excess revenues. As they say in nursery…”The wheels on the bus go round and round, round and round…” repeat as necessary.
Heid, on a side note, I live in Turkey for 9 months each year. I'm actually visiting Mardin next month. Conveniently, next to UKOGs basur/resan well. What's the betting if I ask the locals or operators they have never even heard of UKOG or AME.
I agree that I do not support a windfall tax nor does Kwasi or the conservative vote. It is seen to deter investment in to oil an gas, jobs etc when we should be encouraging oil production and supply. I guess it's what the public want to see with rising bills but they are ignorant to the real detail of the energy crisis with the likes of protestors shutting the M25 and screaming fossil fuels are bad. Never mind we will all use them until we die.
The windfall tax is bullish for my thesis that oil an gas prices are anticipated to keep rising. I view it as another stimulus for oil an gas demand as it will not encourage demand destruction.
Also, who said I would not get my £1 this year RNSTranslator ? Rather presumptuous of you.
“ I am invested here an you can bully me all you like but Im staying put all the way to Biscathorpe.” I thought you were staying until £1 or have you since dropped that number too…£10/£8/£6/£3/£1…. Spot the trend, the trend is your friend…
Well Heid. Seems it’s windfall tax time tomorrow. Remember the 19th of March when I posted this and you told everyone there wouldn’t be a windfall tax…”Kwasi said so”
“ That political reality simply means that a SHORT TERM windfall tax on oil and gas producers is inevitable as the voting public will simply not tolerate average fuel bills of £3k and oil and gas making super profits. A short term hit will not be welcomed by the industry, but expect this to be sweetened by longer term tax reductions to encourage more homegrown production in the medium term.”