Windfall Profits Taxes for Oil and Gas producers - Discuss

[ExtraSlow]

UK has passed a 25% windfall profits tax: https://www.bbc.com/news/business-60295177
USA is considering the same thing: https://oilprice.com/Latest-Energy-N...dfall-Tax.html

I assume the same thing will be proposed in Canada soon enough.

Seems like a good way to reduce oil and gas supply and keep prices high. If we want to accelerate a transition away from this type of energy, that's the way to do it, price it out of the market. If we want to keep costs low for consumers, this is the complete worst thing you could do.

Discuss.

[gwill]

windfall tax needed on pharmaceutical companies who Have profited from covid. You cant single out one industry while ignoring others.

[killramos]

What’s a “windfall”

[ExtraSlow]

big numbers are bad umkay.

[vengie]

I hope they do it, all the fuckers freeze in the winter and realize how stupid they all are.


Plot twist - They will never realize how dumb they are.

[Buster]

This quote is hidden because you are ignoring this member. Show Quote

You cant single out one industry while ignoring others.

Sure you can.

[suntan]

Raising expenses is so trivial, they won't making a fucking cent from this.

[jutes]

So we tax O&G 25% and they raise gas prices 25% to offset and make even more money?

[Tik-Tok]

How about we let every other country do this, but not us?

[ExtraSlow]

This quote is hidden because you are ignoring this member. Show Quote

How about we let every other country do this, but not us?

Like

[statick]

Apropos of nothing, this has already happened to financial institutions…

https://monitormag.ca/articles/profi...lation-drivers

[ThePenIsMightier]

Expensive transportation fuels does not lead us to net zero or carbon neutrality.
It leads us to bread lines.

[killramos]

Is it really windfall profit when it’s directly driven by failed government policy?

[tonytiger55]

Nobody is investing in oil and gas infrastructure. High prices are partially a product of failed left/green polices. They don't want to invest in oil and gas.
What they did not realise is, if you want green techology. That entire infrastructure is built on oil and gas. From mining resources, to refining, transportating, high end manufacturing and down to the people that get up and go to work. That entire process sits on oil and gas. If they don't invest in oil and gas, what did they think that would happen to prices?
Windfall tax does not do anything.

[Darell_n]

I’d vote for additional 25% windfall tax on Prime minister earnings above base salary.

[Misterman]

What a fucked up situation they are brewing. The only reason to switch to electric right now, is due to the much cheaper fuel source that is electricity. With a huge shift in that direction, there is going to be a huge surge in electricity pricing too. Going to be a lot of buyers remorse in 10 years when people's electricity bills are more than their monthly gasoline purchases ever were.

[zechs]

This quote is hidden because you are ignoring this member. Show Quote

What a fucked up situation they are brewing. The only reason to switch to electric right now, is due to the much cheaper fuel source that is electricity. With a huge shift in that direction, there is going to be a huge surge in electricity pricing too. Going to be a lot of buyers remorse in 10 years when people's electricity bills are more than their monthly gasoline purchases ever were.

Careful, you're going to bring the wrath of ExtraSlow if you aren't pedantically specific about what you mean, because according to him electricity is already going up 5 fold vs 2 fold for natural gas in the next XX years.

Interestingly, gasoline prices make running E85 economical now.

[ExtraSlow]

At least we can all agree that energy costs are going nowhere but up for the next couple of decades. Glad my fan club is still going strong.

[ThePenIsMightier]

This quote is hidden because you are ignoring this member. Show Quote

At least we can all agree that energy costs are going nowhere but up for the next couple of decades. Glad my fan club is still going strong.

Not pedantic enough.
-NegRep

[zechs]

This quote is hidden because you are ignoring this member. Show Quote

Not pedantic enough.
-NegRep

I am disappointed in him, no internet argument for a Saturday morning leaves my life devoid of meaning.

Guess I better go do something productive.