RE: Windfall Tax27 May 2022 19:44
I'm not as knowledgeable about the oil industry as many on here and I have no real issue with the Windfall Tax in the circumstances, more so with the tax breaks on offer. Looking at the timing, I think it could actually work out well for JOG - or a future partner. That said, I do know that one thing the markets hate more than anything is uncertainty and the 'sunset clause' provides just that, open-ended as it is. Whilst the government would undoubtedly point to the unpredictability of future oil prices and the various events behind them, that should not provide them with a license to leave companies in such a position that they cannot plan for the future, largely through making it up as they bumble along. Where the 'sunset clause' is concerned, a solid proposal is needed soon and NOT only once we hit the three year 2025 point, as seems to be their way of late.