Posted on 12/27/2025 11:32:32 PM PST by Jonty30
Labour’s attack on the oil and gas industry means no new wells have been drilled in the British North Sea this year, for the first time in more than half a century.
Activity in UK waters has dried up as energy firms reel from the windfall tax on profits and Ed Miliband’s ban on licences for exploratory drilling in new areas.
And analysis of Budget documents shows the so-called Energy Profits Levy is raising billions of pounds less than expected – leading to calls for it to be scrapped to save the industry from collapse.
The levy was forecast to bring £26billion of revenue into the Exchequer in the three years after its introduction in 2022.
But in fact, it raised just £9.7billion in that time.
And the Office for Budget Responsibility has cut its forecast for how much it will raise over the next three years, from £15.6billion to £5.7billion.
(Excerpt) Read more at msn.com ...
Who is John Galt?
“Office for Budget Responsibility” - straight from George Orwell.
Wait till they hear about the Silver issue Monday. They should be glad the Pound Sterling doesn’t exist anymore.
they will not win this war. They are from hell
Ministry of Truth update
Islam is peace
Capitalism is slavery
Diversity is strength
Welcome to the new 1984
And water is no longer wet.
Literally tilting at windmills.
how soon before the lights go out in the UK?
Unlike America with Biden, the Brits actually voted for this.
and the joke is “climate leader” Norway is happily drilling away:
(behind paywall)
24 Dec: UK Telegraph: Norway strikes oil in North Sea near British waters
Discoveries suggest region has wealth of energy as Labour’s shuts down activity
by Jonathan Leake
https://www.telegraph.co.uk/business/2025/12/24/norway-strikes-oil-in-north-sea-near-british-waters/
Maybe we need to set up a screening of “Landman” for Labor?
I “stole” that to post elsewhere - attributed it as:
From a FReeper:
“Give socialists the Sahara Desert and they will figure out a way to run out of sand.”
YUP
I wonder how many times the UK can shoot itself in the foot before it notices it’s bleeding to death. Social and economic policies in the UK are such that it’s only a matter of time before the UK crumbles under its own weight. Sadly, they don’t seem to be doing anything about it.
“And analysis of Budget documents shows the so-called Energy Profits Levy is raising billions of pounds less than expected – leading to calls for it to be scrapped to save the industry from collapse.“
Liberals fail not only to raise the money they claim or intend but they destroy the industry itself thereby losing the pre raise flow as well. They do ONE thing and it fails two ways. Amazing.
They want the oil industry to collapse. Sounds like they are on track.
Meanwhile in California and Oregon, the oil companies are leaving, shutting down refineries, and closing pipelines.
The Price of regular gasoline is approaching $7.00 per gallon before the coming crunch in lost supply actually develops.
Both of those states are anti-distillate fuels. I don’t know if it’s still true, but CA used to let counties determine the fuel mix sold in their county. As a result, there were 32 different “blends” of fuel in CA, throwing out any chance of scale economies. Meanwhile, Newsom continues to screw things up to the point where almost all refineries of distillate fuels in CA have left the state. The residents are slitting their own throats and I don’t understand why.
Why is the UK importing Russian energy...?
Inquiring minds want to know.
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