BBC News: ‘No plans’ for oil windfall tax |
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The government has no plans to levy a windfall tax on oil companies’ profits, saying it would rather encourage them to invest in North Sea oil. Minister Lord Davies told peers a supplementary charge on oil profits was increased in 2005 and most recent profits were from overseas investments. Royal Dutch Shell made profits of £3.9bn in the first three months of 2008. BP’s profits rose 48% to £3.31bn. Lib Dem Lord Dykes suggested the tax could be used to fund wind farms. In January, the Unite union called for the government to impose a windfall tax on oil companies’ profits – after Royal Dutch Shell reported record profits for a UK-listed company. ‘Disappointment’ During business questions in the House of Lords on Tuesday, Lord Dykes asked the minister if the government would consider an “eye-catching proposal” – levying a windfall tax on oil companies’ 2008/09 profits to encourage firms to invest in wind farms. But Lord Davies said it was important that “we realise the assets in the North Sea which still remain there” still “require investment”. “What we need is consistency in taxation of the oil companies. The windfall profits of oil companies in recent months are derivative largely from their overseas investment – the North Sea, as far as BP is concerned, only accounts for 10% of its profits.” He added: “Policy is reviewed as part of the annual Budget process. There are no current plans to introduce a windfall tax on oil companies.” But he admitted it was a “disappointment” that Shell had announced it would pull out of a giant wind farm scheme in the Thames Estuary. Last week the company said it favoured investing in US wind power instead, as the US government’s incentives offered “competitive returns”. |
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Critic’s corner
30 November 2023: Posted by John Donovan
The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Extremely slow broadband for 10 months, not fixed. I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it. They have tried sending about 4 or 5 engineers but have not fixed the problem. Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more
OVER 500 EXTERNAL PUBLICATIONS CITING OUR SHELL WEBSITES
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
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This is not a Shell website. That fact should be abundantly plain from the overall content of this home page and our sister Shell focussed websites, including shellnazihistory.com. Click on the Disclaimer link at top of this page for more information. You Can Be Sure Shell does not endorse or approve of this website. There are no subscription charges nor do we solicit or accept donations. No advertising is accepted. It is an entirely free to use non-commercial website drawing attention to the negative side of Shell. The Shell logo image with the white text used on this website, as per the above example, is in the public domain because its copyright has expired and its author is anonymous. It can be found here on WIKIMEDIA COMMONS. Use this link for Shell’s own website.
SHELL PROPPED UP APARTHEID
ARTICLE: U.S. unions urge boycott of Shell to fight apartheid: 19 Jan 1986
ARTICLE: Shell, South Africa and Apartheid: 16 Oct 2012
ARTICLE: Shell propped up racist apartheid regime in South Africa: 24 Nov 2012
ARTICLE: The Neptune Strategy:Shell, propped up Apartheid in South Africa: 26 Nov 2012
ARTICLE: Shell accused of benefiting from South African apartheid-era land law: 21 March 2013
ARTICLE: THE CAMPAIGN TO END APARTHEID: 12 Dec 2013
RELEVANT PAGES FROM "A HISTORY OF ROYAL DUTCH SHELL, VOLUME 3, PUBLISHED IN 2007. PREPARED BY SHELL'S PAID HISTORIANS. DEALS WITH SHELL'S SUPPORT FOR APARTHEID
SHELL TOXIC BRANDS
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