I've decided why we will never hit a £126 Feb 2023 14:38
Windfall taxes and the Greta effect!
https://masterinvestor.co.uk/economics/the-oil-majors-in-a-time-of-transition-stratagems-and-spoils/?mc_cid=fd5d3cc794&mc_eid=5f01a2ae3b
' Now, the oil majors are not just doomed but almost universally reviled, especially by the young, as the malevolent agents of climate catastrophe. Their standing in public opinion is even worse than those repugnant tobacco companies (some of which, unbelievably, continue to exist).
Psychologically, this is a not a comfortable space to inhabit,'
'The UK government, desperate for cash, has decided that energy companies are easy targets for rich pickings - hence the windfall taxes on their profits. And more could be on the way. Labour, according to Shadow Chancellor Rachel Reeves MP, would evidently squeeze the energy majors even harder. '
Typical Labour approach, squeeze them until the pips run dry! It makes investors nervous and only traders will jump on this for a quick rising tide!
We should be beyond £1 by now but we can see why we may not!