Should the gov support a multi billion dollars profit industry? When they can’t fund policing, health service and education.

A company in which most of our pension funds are heavily invested?

What government help?

Amazing isn’t it, how those who are the most vehemently opposed to a safety net for others are the first out with the begging bowl for themselves.

Yes.

The govt should support by looking at taxes on profits – reduce them from some which are 80% plus tax rates. Any other industries have to contend with that I wonder?

Stable fiscal regime would assist with supporting future investment decisions too.

Yes, profits are sometimes high but the costs and risks are equally high.

Amazing isn’t it, how those most vehemently opposed to reading the news are first to spout their opinions on it

I should add that without this support we all might see reduced tax revenue longer term (no investment) which will have to be funded by…reduced services and those paying taxes.

Reduce taxes in short term to give tax revenue longer term.

They were the biggest corporate tax payer in the UK for years, so I’d think about it tbh.
[They’re still top 10 but dropped quite a bit after the Gulf of Mexico accident.]

News tonight said there were no plans to reduce the work in the fields, the 300 lay off were planned 6 months ago.
Does this mean oil is the new banking? Great dependency on it. Even though a lot of the taxable profits may not feed our coffers. Yet taxpayer pays out?

Oil industry…sunset industry.. Should be subsidising green industry/manufacturing.

I don’t know if subsidising is the correct term. Reducing a relatively high tax burden may be more correct.

Some fields discovered prior to 1992 are paying tax of ~80% on profits, those post 1992 ~60%. Is this common outside O&G industry? Anyone?