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Chancellor's tax break for older North Sea oil/gas fields 
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Legend

Joined: Sun Apr 26, 2009 12:30 pm
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http://www.bbc.co.uk/news/uk-scotland-s ... s-19515932

When's that independence vote? ;)

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Sun Sep 09, 2012 5:35 pm
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What's a life?
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Joined: Thu Apr 23, 2009 7:26 pm
Posts: 17040
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It's not a tax break for oilfields, it's a tax break for the multinational corporations that run the oil fields. There's a bit of a difference.


Sun Sep 09, 2012 7:29 pm
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Spends far too much time on here

Joined: Fri Apr 24, 2009 9:44 pm
Posts: 4860
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President Obama is stopping tax breaks for BIG business (overseas) but increasing tax breaks for middle/lower class workers
and for new start ups within the USA, bringing jobs back instead of being 'out sourced'
hum ... i see a fundamental change in thinking here

lessons we will have to learn ...

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Sun Sep 09, 2012 8:58 pm
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Doesn't have much of a life

Joined: Sat Apr 25, 2009 6:50 am
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This is a tax break to encourage capital investment in oil fields that are near exhaustion and are otherwise dubious investments. Every barrel you sell goes for the same price, but the costs of extraction can vary widely, so the government is reducing the cost of extraction in fields where otherwise it is liable to rise to a level where investment is risky.

It makes perfect sense, and I would expect any other chancellor to do exactly the same thing irrespective of party.


Mon Sep 10, 2012 8:16 am
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