Taxation kills off UK gas field
Discussion
thinfourth2 said:
loafer123 said:
thinfourth2 said:
If it was the red ties in power this place would be frothing at the mouth
because the Blue ties are destroying UK industry its excellent
Given the state of the nation's finances, I would think it doesn't matter what colour tie you wear, we need the money.because the Blue ties are destroying UK industry its excellent
For example, if they don't receive £10m in tax as a result of this field suspending production, but receive an extra £100m from the tax on the fields that remain open, they are considerably up in revenue terms.
At the risk of stating the obvious, the tax will eventually come from the field as well, when supplies reduce and prices go up.
loafer123 said:
It's all about marginal taxation, it isn't about this individual field.
For example, if they don't receive £10m in tax as a result of this field suspending production, but receive an extra £100m from the tax on the fields that remain open, they are considerably up in revenue terms.
At the risk of stating the obvious, the tax will eventually come from the field as well, when supplies reduce and prices go up.
Of course lowering tax would never bring in extra taxFor example, if they don't receive £10m in tax as a result of this field suspending production, but receive an extra £100m from the tax on the fields that remain open, they are considerably up in revenue terms.
At the risk of stating the obvious, the tax will eventually come from the field as well, when supplies reduce and prices go up.
Raising tax is such a socialist thing to do
thinfourth2 said:
loafer123 said:
It's all about marginal taxation, it isn't about this individual field.
For example, if they don't receive £10m in tax as a result of this field suspending production, but receive an extra £100m from the tax on the fields that remain open, they are considerably up in revenue terms.
At the risk of stating the obvious, the tax will eventually come from the field as well, when supplies reduce and prices go up.
Of course lowering tax would never bring in extra taxFor example, if they don't receive £10m in tax as a result of this field suspending production, but receive an extra £100m from the tax on the fields that remain open, they are considerably up in revenue terms.
At the risk of stating the obvious, the tax will eventually come from the field as well, when supplies reduce and prices go up.
Raising tax is such a socialist thing to do
In the case of income tax, higher rates reduce the willingness of people to be more productive and increase tax avoidance so higher rates don't necessarily produce more revenue and lower taxes can actually produce more revenue.
Motorrad said:
Smart move, increase the UK's reliance on imports and lose ALL the tax revenue
http://www.bbc.co.uk/news/uk-13256597
What a useless shower of s
t the government nobody voted for are turning out to be.
Shame the 'proper' Conservative party doesn't seem to exist anymore.
An equal shame you headline doesn't reflect the facts too. Maybe think about being a Daily Mail headline scribe ? http://www.bbc.co.uk/news/uk-13256597
What a useless shower of s
t the government nobody voted for are turning out to be.Shame the 'proper' Conservative party doesn't seem to exist anymore.
powerstroke said:
sharpfocus said:
It'll be economically viable sooner or later.
that will be when they have enough people on the hook with electric carsjust needs a few 100,000s and bend over mr leaf owner
petemurphy said:
cant we just nationalise the field and sell it to the highest bidder if they dont want to use it? bout time the gov stood up to the energy firms and got some gonads
You mean, they should tax them so highly that they go elsewhere- oh no, already done that..........or tax them so highly nobody will want to bid on it........already done that.....These companies will vote with their investment and take large amounts of it, their taxes and their highly paid jobs elsewhere. Net loser- the UK.
As for my headline being fit for the daily mail well, let's see what happens to this and many other marginal oil and gas fields. Resources will most likely be lost forever along with tax revenue. Smart move.
loafer123 said:
thinfourth2 said:
Could someone please explain why
Raising the tax on bankers so they shutdown UK operations is bad
but
Raising the tax on the oil industry so they shutdown UK operations is good
Banks and bankers can move. Raising the tax on bankers so they shutdown UK operations is bad
but
Raising the tax on the oil industry so they shutdown UK operations is good
Oil and gas reserves cannot.
lets leave the uk's gas supplies in the hands of the Russians and LNG from the middle east
What could possibly go wrong?
loafer123 said:
thinfourth2 said:
Could someone please explain why
Raising the tax on bankers so they shutdown UK operations is bad
but
Raising the tax on the oil industry so they shutdown UK operations is good
Banks and bankers employ Triston-very-plum, the blue tie wearer. Raising the tax on bankers so they shutdown UK operations is bad
but
Raising the tax on the oil industry so they shutdown UK operations is good
Oil and gas employs, "them ruffians up North" who would be skint without us financial gurus in London.
loafer123 said:
Banks and bankers can move.
Oil and gas reserves cannot.
You are right the field can't moveOil and gas reserves cannot.
However
The operators of the field can choose to cap the well and bog off to another field in another country instead of doing well stimulation or other methods to keep the well running.
Once the well has been killed and capped you are going to have to spend alot to get it running again.
Operators can choose not to drill test wells and don't need BOPs etc
A large manufacturer of BOPs based in northern england has just made a 3rd of their production staff redundant.
I am getting enquiries about field abandonment operations.
Oil companies can and do f
k off to more friendly countriesSo i ask again
Why is it okay to tax oil companies until they move out of the UK but not okay to tax bankers until they leave.?
Oh and you need more then studying history at Eton to be a good oil field engineer
Edited by thinfourth2 on Monday 2nd May 19:47
Similar thread a month ago about an oil company 'seriously considering' shutting down an oilfield due to this tax.
http://www.pistonheads.com/gassing/topic.asp?t=984...
Get back to me when they stop 'considering' and start acting. Pure economic sabre-rattling by the oil companies IMHO.
http://www.pistonheads.com/gassing/topic.asp?t=984...
Get back to me when they stop 'considering' and start acting. Pure economic sabre-rattling by the oil companies IMHO.
Caulkhead said:
Get back to me when they stop 'considering' and start acting. Pure economic sabre-rattling by the oil companies IMHO.
it must of been my imagination that BOP production has been scaled backAnd why can't we start taxing the bankers until they start to leave
Apart from they fund the blue ties
thinfourth2 said:
loafer123 said:
Banks and bankers can move.
Oil and gas reserves cannot.
You are right the field can't moveOil and gas reserves cannot.
However
The operators of the field can choose to cap the well and bog off to another field in another country instead of doing well stimulation or other methods to keep the well running.
Once the well has been killed and capped you are going to have to spend alot to get it running again.
Operators can choose not to drill test wells and don't need BOPs etc
A large manufacturer of BOPs based in northern england has just made a 3rd of their production staff redundant.
I am getting enquiries about field abandonment operations.
Oil companies can and do f
k off to more friendly countriesSo i ask again
Why is it okay to tax oil companies until they move out of the UK but not okay to tax bankers until they leave.?
I'm not advocating it, I'm just telling you why they act the way they do.
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