Taxation kills off UK gas field
Discussion
mik.ross said:
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.
Cameron is lining up to dump Scotland
loafer123 said:
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.
And the fact still is if you abandon a field it is normally hugely expensive to get it flowing again
thinfourth2 said:
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
Anyway, as usual you're missing the point. We in England are preparing for Scottish independence by destroying the north sea oil industry. We realise it will hurt, but it will be worth it to watch that smug t
t Salmond run out of oil-based excuses. 
Caulkhead said:
The same bankers that got the bailout from Gordon Brown because the labour party was £14m in debt and they were on the edge of foreclosing with the structure of the labour party meaning the leader was personally liable?
Anyway, as usual you're missing the point. We in England are preparing for Scottish independence by destroying the north sea oil industry. We realise it will hurt, but it will be worth it to watch that smug tt Salmond run out of oil-based excuses.
No it wont happen there is going to be a arc of prosperity from Ireland thru scotland and to Iceland, Norway Anyway, as usual you're missing the point. We in England are preparing for Scottish independence by destroying the north sea oil industry. We realise it will hurt, but it will be worth it to watch that smug t
t Salmond run out of oil-based excuses. 
Well that's what the salmond twunt said a year or so ago
powerstroke said:
Caulkhead said:
The same bankers that got the bailout from Gordon Brown because the labour party was £14m in debt and they were on the edge of foreclosing with the structure of the labour party meaning the leader was personally liable?
Anyway, as usual you're missing the point. We in England are preparing for Scottish independence by destroying the north sea oil industry. We realise it will hurt, but it will be worth it to watch that smug tt Salmond run out of oil-based excuses.
No it wont happen there is going to be a arc of prosperity from Ireland thru scotland and to Iceland, Norway Anyway, as usual you're missing the point. We in England are preparing for Scottish independence by destroying the north sea oil industry. We realise it will hurt, but it will be worth it to watch that smug t
t Salmond run out of oil-based excuses. Well that's what the salmond twunt said a year or so agoPesty said:
thinfourth2 said:
Globs said:
They do, UKIP got 8% of the vote in the last election.
And how many MPsNIL
How many MPs did the green party get
ONE
Going off topic
To all those complaining about the rich oil company and how they should suck it up... A few of points:
Who wins if the oil company does well? To an extent the employees but not in the same way that bank employees do - no - maybe think instead about the tax take and the shareholders. The shareholders being you and me and pretty much any one else with a pension. Not to mention all the interrelationships that exist in the British economy on the back of a successful oil and gas industry.
How hard is this drilling for oil business? Maybe ask Tony Hayward. Big profits maybe but you'd have to be a blind idiot not to appreciate the implications of getting it wrong, human life first and foremost and then untold environmental and economic damage, the extent of which could bring Britains largest company literally to it's knees overnight. Name me another industry, outside of energy, that faces that risk.
Speaking of wedges... How thick do you like your thin end? A government that introduces a game changing tax overnight, without warning, consultation or regard for short/medium business plans, needs a nice fat slap round the chops. Try whacking that on the tourist industry or steel, or motor or any other industry you care to mention. It's simply un-acceptable to feck around so profoundly with the fiscal regime in such a short time.
Why kill the sacred cow? Lord knows we're not good at much in the UK now but one thing we're still good at is plundering the deep for oil and gas. Why risk one of those last nuggets of British industry that has managed to withstand the ineptitude of all governments to date... Just.
Who wins if the oil company does well? To an extent the employees but not in the same way that bank employees do - no - maybe think instead about the tax take and the shareholders. The shareholders being you and me and pretty much any one else with a pension. Not to mention all the interrelationships that exist in the British economy on the back of a successful oil and gas industry.
How hard is this drilling for oil business? Maybe ask Tony Hayward. Big profits maybe but you'd have to be a blind idiot not to appreciate the implications of getting it wrong, human life first and foremost and then untold environmental and economic damage, the extent of which could bring Britains largest company literally to it's knees overnight. Name me another industry, outside of energy, that faces that risk.
Speaking of wedges... How thick do you like your thin end? A government that introduces a game changing tax overnight, without warning, consultation or regard for short/medium business plans, needs a nice fat slap round the chops. Try whacking that on the tourist industry or steel, or motor or any other industry you care to mention. It's simply un-acceptable to feck around so profoundly with the fiscal regime in such a short time.
Why kill the sacred cow? Lord knows we're not good at much in the UK now but one thing we're still good at is plundering the deep for oil and gas. Why risk one of those last nuggets of British industry that has managed to withstand the ineptitude of all governments to date... Just.
Edited by Olf on Tuesday 3rd May 02:25
slow_poke said:
Mojocvh said:
So would the number of blood sucking useless non productive parasites then go up?
No, the overall numbers won't change. They'll just be wearing different coloured ties.Labour's second choice will be LibDem
Libdem's second choice will be Labour
So you may never get a Tory majority ever again.
Now with this in mind lets look at the Tory party: GIving all power to the EU (check), keeping the quangos (check), not really grasping the reality of the UK debt load (check). So it comes down really to whether the Tories are that relevant anymore, and if a few UKIP people (more likely with AV I think) would counterbalance the inrush of luvvy lefties and their imbecilic ideas.
Globs said:
slow_poke said:
Mojocvh said:
So would the number of blood sucking useless non productive parasites then go up?
No, the overall numbers won't change. They'll just be wearing different coloured ties.Labour's second choice will be LibDem
Libdem's second choice will be Labour
So you may never get a Tory majority ever again.
Now with this in mind lets look at the Tory party: GIving all power to the EU (check), keeping the quangos (check), not really grasping the reality of the UK debt load (check). So it comes down really to whether the Tories are that relevant anymore, and if a few UKIP people (more likely with AV I think) would counterbalance the inrush of luvvy lefties and their imbecilic ideas.
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