Zigstock/Bark24 May 2011 15:43
Well, Osborne might have knakked the North Sea. However, has FPM lost, say 30p, due to Osborne or is this due to massive overspend on Lagavullin?.... they have had some diffuculties there, haven't they. However, I do take your point that, is it, a 12% tax hike will obviously affect FPM revenue streams i.e. FPM won't be as profitable on its UK licenced fields? I'm not in XEL, EO or IAE but haven't recent falls in these companies been due to 'bad news' regarding resources and production rather than Osbornes ill thought out tax raid?
Seems rather odd when HMG keeps banging on about energy security they decide to hasten the demise of UK hydrocarbon production. Oh well, turkeys voting for christmas springs to mind. Mayeb we ought to invest in lightweight roof windmills?
Just some thoughts...