The tax landscape is going to change dramatically in countries that go for radical green policies. Hydrocarbons are creators of value as they don’t need bribes (subsidies) for pushing people towards using them. You can make them more expensive to use (taxes) and people will still want to have them. They are a massive source of revenue for the taxman. Take them out of the picture and the world is poorer. Because their supposed replacements need the bribes to get people to use them and don’t produce much honestly taxable income. It’s a circle that cannot be squared – but will we want to understand?
By Paul Homewood As requested, an analysis of the amounts paid in taxation by North Sea oil and gas businesses. This is the latest chart from BEIS: