Even the Boris Johnson and the conservative party is doing a windfall profits tax on oil/gas in UK. What the hell is going on America? We're just letting them gouge and pocket the money.
UK slaps windfall tax on oil and gas giants over rising energy bills - cnbc.com
Punishing producers of X while artificially lowering the consumer cost of X through price caps and subsidies is a surefire way to solve the supply/demand problem causing high prices for X. Works every time! Fuck has the UK fallen from its liberal traditions. I can see why they practically went commie after the war.
Shit has really stalled out all along the front. No more encirclement talk kek. And MLRS incoming soon!
its a profit tax, its to make them invest.
Invest what? The money the government is seizing from them? The same government that has been pushing ESG shit for a decade and demanding divestment from investing in fossil fuel companies? What is it like to be this stupid?
They can't push "Green" energy so long as cheaper, cleaner alternatives exist. They need the people to be so desperate they'll accept it, plus the severely lowered standard of living it requires to maintain.
they don't take the money if its spent idiot.
Whereas allowing them to simply raise the price 4-5x and pocket the difference is bizzarely perfectly fine
won't this make gas prices go even higher as they recoup their losses from the tax?
Not really since the price is being set by what people are willing to pay and they are already making massive extra profits
It’s unreal how stupid commies actually are. Their entire ideology comes from a fundamental failure to understand absolutely basic economics, and it reveals itself over and over. No one will invest in an industry under punitive taxation. Oil prices are high due to chronic underinvestment due tk governments strong discouraging investment for over a decade. But the solution is the do stuff that discourages investment in supply even more while subsidizing demand with free gas cards. Yay! We are living in an Ayn Rand novel and you two are the comic relief.
Of course not. Same as jacking up the minimum wags has no effect at all on prices. This has been debunked chud.
It’s set by what consumers are willing to pay you fucking imbecile, not the seller making profits.
Raising taxes for corporations only ends up costing the customer more money and stifles industry.
Basic economics
This is what collapse looks like. They're just grabbing money, like the oligarch yachts.
2020: exxon 20 billion dollar LOSS
2021: exxon 20 billion dollar PROFIT
>HEY THESE GREEDY FUCKS ARE GOUGING US
idiocracy
not to mention oil and gas companies aren't reinvesting because the government says after 2035 no one is allowed to use oil or gas and we are all going to freeze to death
but the uk is not a oil producer moron, invest in what?
Storage capability?That won't reduce prices, what a shitshow the west has become.
It's like venezuela but somehow even more retarded lately.
Of course an Argentine gets it.
And here we are in 2022 doubling that
Exxon Mobil (Ticker: XOM) is expected to generate about $41 billion of net income in 2022, up from $23 billion last year.
Time for a windfall profits tax
I hope they do it shill. Then the price will really go up and shit will hit the fan. I support everything the Democrats are doing now because it’s so counterproductive and stupid and hence perfect accelerant.
Pretty sure BoJo isn't a communist get it together retard
Beep bop
>Every household will receive £400 off their energy bill and households receiving social welfare benefits will qualify for a one-off £650 cost-of-living payment
more neet bucks thankyou boris
We are in the same wavelength, can't wait until mommy laggarde starts yield curve control sending bitcoin to 700k in a few months.
I hate this website. Such a piece of shit.
a davos shill, a fabian socialist and a marxist walk into a bar.....
>one-time tax
No such thing exists.
>how do we stop prices from skyrocketing?
>I know! Make it cost more!