Politicians talk without solutions

Labour not only want to increase the windfall tax on oil and gas companies, they want to close any tax loopholes’ (not my word) which benefit them - that includes the concession allowing them to claim tax relief for exploration and development in the UK. So maybe your SNP man might not have oil and gas jobs to be concerned about. Maybe what he was trying to say, without mentioning the Conservatives, was that they will protect and increase those jobs - Labour won’t.

Bring on the windfall tax I say. The industry made eye watering prophets when our bills went through the roof.

They have already factored in the tax - they work years ahead - so I say let’s use it to create our green energy and more jobs.

The energy industry is already eyeing this as a possible investment. So it is a win win as they will get the money back by investing in green energy etc.

It's rather late to be eyeing up green energy opportunities, Scotland is being decimated by foreign companies. There's not much green about 'green' energy.

There is already a windfall tax on oil and gas companies. Don’t you worry that a further windfall tax, and closing what Labour call ‘loopholes’ such as tax relief on exploration and development in the UK, will have an adverse effect on the price and availability of oil and gas wwm?

Whitewavemark2

Bring on the windfall tax I say. The industry made eye watering prophets when our bills went through the roof.

They have already factored in the tax - they work years ahead - so I say let’s use it to create our green energy and more jobs.

The energy industry is already eyeing this as a possible investment. So it is a win win as they will get the money back by investing in green energy etc.

The EPL (energy profits levy) which is a windfall tax on oil and gas companies has been extended by this Government up until 31st March 2029.

Oops crossed posts GSM

Germanshepherdsmum

There is already a windfall tax on oil and gas companies. Don’t you worry that a further windfall tax, and closing what Labour call ‘loopholes’ such as tax relief on exploration and development in the UK, will have an adverse effect on the price and availability of oil and gas wwm?

What you are not recognising is the fact that this will have been factored in by the energy companies. Their prophet margins will hardly be affected. R&D will continue as normal.

Whitewavemark2 I would have thought you would support energy companies investing in Green Energy, surely you do not expect them to carry out R & D for free?

Do you have a crystal ball wwm? (You keep talking about prophets too.) If R&D continue ‘as normal’ without the current tax concessions for UK exploration and development, then there are two possibilities: 1 - profits fall and therefore the windfall tax doesn’t bring in the money on which Labour’s expenditure is predicated; 2 - R&D doesn’t continue ‘as normal’ and jobs go. My experience of taxation on companies is that it has a way of finding its way down to the price the consumer pays.

What the SNP man should have been talking about what the SNP is going to do to gradually wind down the North Sea oil and gas industry working out of Aberdeen and replace it by new industries that can benefit from the presence of offshore wind farms providing lots of clean cheap energy. Not to mention the potential of tidal power and possible a nuclear power plant.

M0nica

What the SNP man should have been talking about what the SNP is going to do to gradually wind down the North Sea oil and gas industry working out of Aberdeen and replace it by new industries that can benefit from the presence of offshore wind farms providing lots of clean cheap energy. Not to mention the potential of tidal power and possible a nuclear power plant.

He didn’t mention any of that!

I've noticed that politicians being asked an interview question on TV often give a lengthy potted history of the issue which squeezes out the time left for a real answer which they then never deliver.

Well, of course there is no solution (in the short term at least). A combination of events and 14 years of the Tories has wrecked our economy.

Anyone expecting anything to change much is likely to end up disappointed.

From the energy monitor.
'Following the release of the draft energy plan, Scotland is now consulting on whether “there should be a presumption against new exploration for oil and gas”. This is what the International Energy Agency recommends globally to limit temperature rise to 1.5°C.

It is worth noting that as a devolved government, this is also an area where Scotland’s remit is limited – North Sea oil and gas licensing and regulation is entirely the remit of the UK government.'
Westminster has the final day in what happens to energy in Scotland. The Scottish government can put forward proposals but Westminster can and do, veto them

Labour says we should be self sufficient in energy and then says it won’t grant any more licences for oil and gas exploration in the North Sea. Vast numbers of households are wholly dependent on oil and gas for heating and cooking. They really have no idea.