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DewDiligence

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DewDiligence

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Re: DewDiligence post# 494

Monday, 11/21/2022 2:15:37 PM

Monday, November 21, 2022 2:15:37 PM

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SHEL pushes back on UK’s increased “windfall” tax:

https://finance.yahoo.com/news/shell-reconsiders-25bn-investment-uk-190314142.html

[UK’s Chancellor of the Exchequer] increased the so-called energy profits levy on North Sea oil and gas producers from 25% to 35%, while also announcing it would be in place until 2028 rather than 2025, adding £19.4bn to the existing bill.

SHEL’s outgoing CEO has been barking that SHEL’s taxes are too low (#msg-170300650), so the company’s pushback now doesn’t have much oomph, IMO.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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