Err, yes?

In 2014, UK consumers paid 6 times more tax on petrol, excluding VAT, than the North Sea oil and gas industry paid on all taxes related to production.

And the problem is? British smokers paid very much more in tax than cigarette companies paid in profits taxes too.

And?

And then there’s a whole report about “tax free dividends” and the like. Entirely ignoring the fact that said “tax free dividends” would be paying the US corporate income tax. Of 35%.

Twats.

And as Tim Newman says:

“He appears to be wondering why oil companies are not paying a profit tax on crude production in a notoriously high-cost region following the collapse of the oil price.”

16 thoughts on “Err, yes?”

  1. so another set of mis-related comparisons and distorted reasoning. Standard stuff for Murph. Who are the International Transport Workers’ Federation? Some front for City University?

  2. The ITF seems to be another union that puts cash Ritchie’s way, it seems more than once to have a go at Chevron. This is one of his funders not on the list. This from last year:

    http://www.theaustralian.com.au/news/inquirer/fairfax-and-chevron-are-writing-a-pantomime-script/news-story/5b04bac70b761de3d6801a604d70ba76

    “Just last week the ITF held a “briefing” for Chevron shareholders on the company’s “growing tax problem” in London led by Richard Murphy, a co-founder of the largely union-funded Tax Justice Network and adviser to British Labour leader Jeremy Corbyn.”

    Oh and look, he’s an advisor to Corbyn there in the good ol’ days.

  3. He’s jumped a report issued by the UN Committee on Economic, Social and Cultural Rights. Isn’t that the body that sent over that batshit loony ugly SJW Brazilian who critiicised us for the bedroom tax? Highly credible source then. Not.

  4. Actually, Murphy’s twisted logic would be a real boon to the SNP. With 2 of his lunatic policies, our Scottish deficit is wiped out.

    Green QE under our own separate currency
    Taxing oil production, not profit

  5. “Tax free dividends”. The implication being that this is because it’s being moved internationally to avoid tax. That ECJ rulings have been the biggest driver in EU countries altering their legislation to make this so…

    Ah fuck it. These guys just don’t care that they don’t know.

  6. So he’s suggesting that instead of tax at the pump the govt tax the producers directly, even he can’t be that blind to tax incidence to see that where the govt takes it’s cut has no impact on the final price, the consumer is going to pay it one way or another

  7. Corporation tax is paid on profit not turnover.
    That is all one needs to say.

    I think (Ihaven’t checked) that ITWF is linked to the gangster-run Teamsters Union in the USA (Jimmy Hoffa and pals)

  8. Petrol taxes apply to all petrol bought in the UK, and it’s very difficult (except in some border areas of Ulster) to get fuel without paying the tax.

    North Sea production taxes only apply to oil and gas from the North Sea; there are plenty of other places to get oil from, much more easily and with much lower costs, so if he taxes North Sea production more, they’ll pump up less.

    That’s obvious with about three seconds’ thought. So it’s the old Murphy question; is he just thick, or does he seize on anything that lets him call for more taxes and hope that no-one notices?

  9. If there ever needed to be an SI unit of intellectual entropy, it should be named the Murphy, in honour of the fat man.

  10. “North Sea production taxes only apply to oil and gas from the North Sea; there are plenty of other places to get oil from, much more easily and with much lower costs, so if he taxes North Sea production more, they’ll pump up less.”

    Aren’t they mothballing like crazy in the North Sea because the extraction costs are above the current oil price?

  11. BniC, it’s a bit more complex than that. I seem to recall that North Sea oil is not really used to supply pumps in the UK, rather it is used to sweeten crude oil from, say, Saudi. An oil expert will soon be along to give us chapter and verse.

  12. As I wrote my last comment, I see that Jake Barnes (oilfield expat) has become the latest expert to be dissed by Murph. The entropy continues to increase.

  13. So it’s the old Murphy question; is he just thick, or does he seize on anything that lets him call for more taxes and hope that no-one notices?

    Why can’t it be both?

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