Backpedalling oil scum

[Joeboy]

https://www.bbc.co.uk/news/business-64544110

I readily admit to having shares in both BP & Shell (all div's invested in RE companies) but this is out of order. Its not as if they're financially stuck and can't pave a way forward in the RE space in meaningful volumes!

Gotta do it yourself, no one else will and can't be trusted either. Hell SSE were in the press the other day for using diesel gen sets to run WT's to prevent freezing.

It was the oil companies hellbent seeking profit and damn the environment (while using HSE human fuses to ) that helped me commit to leaving the industry early. In saying that, I've always been morally flexible and pragmatic hence the oil shares.

[Mr Gus]

really doesn't help separate ripple community owned from these @ssholes profit perception, ..fossil fuels marking our cards & a lb of flesh.

[Stinsy]

Might now be a good time to dispose of those oil shares Joe?

[Joeboy]

Might now be a good time to dispose of those oil shares Joe?

Nah, offloaded a screed a couple of years ago. Quietened my soul, pragmatic you see? The kids will inherit and they can choose.

In saying that, if there were an investor group that could force I'd join that.

[spread-tee]

Now would be a good time for GOVT ( there's a joke) to levy a pretty beefy windfall tax on these extraordinary profits. Or the GOVT could offer an alternative by investing a proportion of that profit into renewables. We need to heavily persuade the big oil companies to move sideways away from oil over the short/middle term.

[Moxi]

They wont bite the hand that feeds them desp.

Moxi

[nowty]

Now would be a good time for GOVT ( there's a joke) to levy a pretty beefy windfall tax on these extraordinary profits. Or the GOVT could offer an alternative by investing a proportion of that profit into renewables. We need to heavily persuade the big oil companies to move sideways away from oil over the short/middle term.

Unfortunately the FF companies get an effective 91% tax relief from their windfall taxes if they invest ONLY in the "oil and gas sector to invest in UK extraction".
https://www.gov.uk/government/publicati ... 6-may-2022

Whereas the windfall tax on renewables which is on income and NOT profit !, and there is NO tax relief whatsoever if re-investing in more renewables.

[spread-tee]

Now would be a good time for GOVT ( there's a joke) to levy a pretty beefy windfall tax on these extraordinary profits. Or the GOVT could offer an alternative by investing a proportion of that profit into renewables. We need to heavily persuade the big oil companies to move sideways away from oil over the short/middle term.

Unfortunately the FF companies get an effective 91% tax relief from their windfall taxes if they invest ONLY in the "oil and gas sector to invest in UK extraction".
https://www.gov.uk/government/publicati ... 6-may-2022

Whereas the windfall tax on renewables which is on income and NOT profit !, and there is NO tax relief whatsoever if re-investing in more renewables.

Exactly, evidence that the present GOVT doesn't care much about building up renewables, money talks!!

Desp

[Moxi]

Money talks but votes matter - just make sure you get the message across to as many people as you can do they are informed before the next general election

Moxi