tinfoilhat Posted February 1, 2016 Share Posted February 1, 2016 I don't believe that you have such a total lack of economic understanding. ---------- Post added 01-02-2016 at 16:23 ---------- Oh, here's another one who claims not to get it either. Are you suggesting the oil industry wouldn't automate everything if it could? Link to comment Share on other sites More sharing options...
blackydog Posted February 1, 2016 Share Posted February 1, 2016 Coming from the head of Centrica which owns one of the biggest rip-off companies in Britain - British Gas. I would find it difficult to believe him if he told me it goes dark at night. Link to comment Share on other sites More sharing options...
999tigger Posted February 1, 2016 Share Posted February 1, 2016 Oh, here's another one who claims not to get it either. If youd explain then maybe we would see the point you were making? How much tax break would you be giving them? Its very nice they invest money, but they do it because they think they will make a lot more back. All oil companies continuously invest or theyd have no product. They arent charities. Link to comment Share on other sites More sharing options...
Eric Arthur Posted February 1, 2016 Author Share Posted February 1, 2016 (edited) Are you suggesting the oil industry wouldn't automate everything if it could? You just worry about keeping the people in work now. ---------- Post added 01-02-2016 at 17:03 ---------- How much tax break would you be giving them? No idea. Enough. As much as they need. No more than they need. 10p more than you. Twelve thousand billionty six pounds. This much. They are asking for a temporary break on a supplementary industry tax, while times are bad. That request doesn't leave a nasty taste in my mouth, I might even be enterprising enough to agree a clawback with interest. Edited February 1, 2016 by Eric Arthur Link to comment Share on other sites More sharing options...
tinfoilhat Posted February 1, 2016 Share Posted February 1, 2016 You just worry about keeping the people in work now. ---------- Post added 01-02-2016 at 17:03 ---------- No idea. Enough. As much as they need. No more than they need. 10p more than you. Twelve thousand billionty six pounds. I do. The government should. Oil companies won't. I guarentee at BPs high command there will someone trying to work away to get rid of the human element as much as possible. Link to comment Share on other sites More sharing options...
Funky_Gibbon Posted February 1, 2016 Share Posted February 1, 2016 what does the reduction in the oil price do to the independence issue in Scotland? The SNP/Out campaign released their figures for what an independent Scotland's finances would look like. Part of that included a presumption/estimate that oil prices would average a certain price which was considerably higher than they are averaging right now. Had they won the referendum then they would have become independent not that long ago and their budget would have been out by about £8bn p.a. , which is almost as much as the annual Scottish NHS budget and three times that of their education budget. Link to comment Share on other sites More sharing options...
Eric Arthur Posted February 1, 2016 Author Share Posted February 1, 2016 I found it. Oil revenue is 94% down. http://www.heraldscotland.com/politics/political_news/14102424.SNP_criticised_after_slump_in_oil_revenues_to___130m_forecast/ The SNP's independence plans have come under fire after the independent Office for Budget Responsibility (OBR) warned North Sea oil revenues could fall to just £130 million this year. The figures, revealed as the Chancellor made his Autumn Statement, said this compared to £2.2 billion in 2014-15 and just under £11 billion four years ago. With the OBR now predicting oil revenues to raise about £0.1 billion for 2015-16 and the next three years, George Osborne said there would have been "catastrophic cuts" if Scotland have voted for independence last September. Link to comment Share on other sites More sharing options...
GLASGOWOODS Posted February 1, 2016 Share Posted February 1, 2016 Depends how quickly people think the price will bounce back I suppose..there would have been a bit of a hole in their finances had they gone in 2014.. If Scotland had gained independence, then you could guarantee massive tax rises from the SNP, if oil revenue were at it's present level. Link to comment Share on other sites More sharing options...
El Cid Posted February 1, 2016 Share Posted February 1, 2016 The current low prices mean that 67,000 jobs have been lost already, more will go, and UK oil fields will be shut down forever unless Osborne removes the extra profit taxes that the oil companies pay. That is how capitalism works, over production leads to lower prices and its sink or swim; at least that is how it works in the steel industry. Link to comment Share on other sites More sharing options...
geared Posted February 1, 2016 Share Posted February 1, 2016 Out of interest how much reduction in supplementary charge are we talking about in % and £ terms? Does anyone know? Whats the amount of tax reduction the industry wants and will it make a difference? Another question is if the industry does receive the tax cut are they willing to guarantee to maintain a similar number of jobs? or are they planning on winding it down anyway and a tax break would put abit extra cash in their pocket while they do it Link to comment Share on other sites More sharing options...
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