tag:blogger.com,1999:blog-32841798.post1142346076135481583..comments2024-03-28T22:45:51.014+00:00Comments on Capitalists@Work: Osborne's Carbon Floor - Up There With Brown's Gold SalesCityUnslickerhttp://www.blogger.com/profile/15929544047783163175noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-32841798.post-80218834294007619432011-04-04T00:32:23.363+01:002011-04-04T00:32:23.363+01:00That's people who neither deserve nor need fur...That's people who neither deserve nor need further subsidy because they've already built the damn' things !<br /><br />Alternatively, being penalized for doing the politically correct thing?James Highamhttps://www.blogger.com/profile/14525082702330365464noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-56905509470971412552011-04-02T09:16:54.980+01:002011-04-02T09:16:54.980+01:00ND, as to minimum prices, the govt had an outbreak...ND, as to minimum prices, the govt had an outbreak of commonsense recently and scrapped feed in tariff subsidies for larger installations.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-90210611469036551202011-04-02T07:43:44.058+01:002011-04-02T07:43:44.058+01:00Offshore Windfarms, new Nuclear and 25 year mortga...Offshore Windfarms, new Nuclear and 25 year mortgages are the way forward. Britain is leading the way. The United States is following.<br /><br />http://www.columbiabusinessreport.com/news/38983/print<br /><br />Pity the speech was on April 1st.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-16334547842152196152011-04-01T22:34:12.042+01:002011-04-01T22:34:12.042+01:00ken - you are, you are
Mark - I'll get to you...<b>ken</b> - you are, you are<br /><br /><b>Mark</b> - I'll get to your subtle point at the end (I promise)<br /><br />there are any number of really complicated 'upstream' taxes (i.e. taxes on production) around the world, several of them trying to be a 'rate-of-return' tax<br /><br />it's bloody difficult<br /><br />also, to attempt what Osborne is trying (i.e. tax-take neutrality while delivering some sort of offset for the consumer price of petrol), there needs to be factored in (1) the feedback loop, because production volumes are a (faint) function of price and (2) geology, because the volumes are declining anyway<br /><br />for the North Sea, deep in decline, you could only ever aspire to something rough and ready over any given short period, <br /><br />and you'd need to recalibrate it frequently - which buggers any chance of a 'stable tax regime' which the producers, weeping copious crocodile tears, say they need<br /><br />the subtle point - yes ! - the subsidy-wallahs have realised this at long last, seeing how Osborne has tried to play tunes on several of the 'green taxes' and subsidies of late<br /><br />so now they are saying: <i>nothing less than a CONTRACT for their electricity at extortionate prices will satisfy them</i><br /><br />oh, and the contract must be under-written by HMG, because (of course!) it will be so far out-of-the-money for the buyer (us!!) that only AAA credit on the buy- side will do (I hope this would count as something horrible on the govt's books ...)<br /><br />surely (?), this is headed to <i>reductio ad absurdum</i> quickly enough to put a stop to it ?? please ???Nick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-39054570444523056792011-04-01T22:13:53.120+01:002011-04-01T22:13:53.120+01:00ND, I'm not sure if I can see a coherent polic...ND, I'm not sure if I can see a coherent policy emerging from any of this.<br /><br />Agreed, slapping North Sea companies with higher corporation tax is stupid, but imposing a charge that vaguely relates to oil prices can't be too terrible (although you have told me before it's unworkable in practice because these licence agreement have to be agreed in advance).<br /><br />Maybe they could set the corp tax rate for North Sea at zero per cent plus 1% for every $4 of the price of a barrel of oil, so if oil averages $80, they pay 20% and if oil averages $180 they pay 45% or something?<br /><br />Which leads me on to a more subtle point, the distinction between private law (which regulates contracts directly between govt and oil company) and public law (where the govt can set any tax rates it likes).Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-25944550831268090092011-04-01T18:49:51.937+01:002011-04-01T18:49:51.937+01:00I couldn,t agree more. I have just paid my power b...I couldn,t agree more. I have just paid my power bills and as far as i can make out i paid a 12% tax for windmills or some such thing.<br /><br />I get the feeling i am being ripped off.ken from glosnoreply@blogger.com