RE: Linda not Happy.....4 Sep 2024 08:10
Starmer is a Davos stooge of the WEF and Milliband one of their many Net Zero useful idiots.
“The thing I scratched my head about the most,” she told the Financial Times, was that “everyone understands that the UK will need oil and gas for many years to come, so why don’t we seem to want to use our own? It is better for investment, for energy security, for tax revenues, balance of trade and emissions.”
The Labour government announced over the summer that the UK energy profits levy would rise by 3 percentage points from November, taking the overall tax rate on the sector to 78 per cent. It also extended the levy by a year to 2030 and removed allowances that allowed companies to offset investment spending against their tax bill.
Cook’s comments came in a week when Norwegian-owned peer Neo Energy said it would slow investments in the UK because fiscal policy made projects uneconomical, and industry body Offshore Energies UK warned rises to the windfall tax would cost the economy £13bn in the second half of the decade.
Harbour on Tuesday completed an $11.2bn takeover of Wintershall Dea’s oil and gas assets from German chemicals company BASF, turning the UK-based company into an international participant with a presence in countries from Argentina to Norway.
Harbour’s biggest ever deal will reduce its dependence on the UK North Sea to about a third from roughly 90 per cent, although it will remain the area’s biggest UK producer.