So last week, Little George Osborne thought it would be a wizard plan to hit the oil companies with a sudden tax hike, because the price of oil was so high.

Now, several companies are considering pulling out of North Sea production/exploration.

I'm sure that'll bring the price of oil down and increase government revenue. ::) ::)

Nice one, George.  ::) ::) >:(

http://www.bbc.co.uk/news/business-12905225

Nickbat wrote on 30. Mar 2011 at 14:29:

So last week, Little George Osborne thought it would be a wizard plan to hit the oil companies with a sudden tax hike, because the price of oil was so high. Now, several companies are considering pulling out of North Sea production/exploration. I'm sure that'll bring the price of oil down and increase government revenue. ::) ::) Nice one, George.  ::) ::) >:( http://www.bbc.co.uk/news/business-12905225

Yet another flaw in his wizard plan. Lightweight, I am afraid. Wait till he starts dreaming about how high inflation goes. Still he will have a good excuse as to why it all went belly up.

Nickbat wrote on 30. Mar 2011 at 14:29:

So last week, Little George Osborne thought it would be a wizard plan to hit the oil companies with a sudden tax hike, because the price of oil was so high. Now, several companies are considering pulling out of North Sea production/exploration. I'm sure that'll bring the price of oil down and increase government revenue. ::) ::) Nice one, George.  ::) ::) >:( http://www.bbc.co.uk/news/business-12905225

agreed, it would kill Aberdeen where every pub, restaurant and shop is reliant on oil money.......and fishing....luckily for Gideon - no one in Aberdeen votes tory............wait a minute......you dont think.......nah, surely not   :o

Nickbat wrote on 30. Mar 2011 at 14:29:

So last week, Little George Osborne thought it would be a wizard plan to hit the oil companies with a sudden tax hike, because the price of oil was so high. Now, several companies are considering pulling out of North Sea production/exploration. I'm sure that'll bring the price of oil down and increase government revenue. ::) ::) Nice one, George.  ::) ::) >:( http://www.bbc.co.uk/news/business-12905225

'Tis the usual jousting. Oil companies and banks are going nowhere.

You may be right Steve - but its a game of poker, and sometimes the player who thinks the other one is bluffing can be wrong. Only time will tell. ;)

wrote on 30. Mar 2011 at 19:58:

Nickbat wrote on 30. Mar 2011 at 14:29: So last week, Little George Osborne thought it would be a wizard plan to hit the oil companies with a sudden tax hike, because the price of oil was so high. Now, several companies are considering pulling out of North Sea production/exploration. I'm sure that'll bring the price of oil down and increase government revenue. ::) ::) Nice one, George.  ::) ::) >:( http://www.bbc.co.uk/news/business-12905225 'Tis the usual jousting. Oil companies and banks are going nowhere.

But, Steve, Statoil are Norwegian. Why should they invest in UK enterprises and get hit by this tax hike? Plenty of other areas to take their money and expertise. :(

Nickbat wrote on 30. Mar 2011 at 20:22:

wrote on 30. Mar 2011 at 19:58: Nickbat wrote on 30. Mar 2011 at 14:29: So last week, Little George Osborne thought it would be a wizard plan to hit the oil companies with a sudden tax hike, because the price of oil was so high. Now, several companies are considering pulling out of North Sea production/exploration. I'm sure that'll bring the price of oil down and increase government revenue. ::) ::) Nice one, George.  ::) ::) >:( http://www.bbc.co.uk/news/business-12905225 'Tis the usual jousting. Oil companies and banks are going nowhere. But, Steve, Statoil are Norwegian. Why should they invest in UK enterprises and get hit by this tax hike? Plenty of other areas to take their money and expertise. :(

They will invest for the same reason they are investing now. There may be oil there.