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 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%.
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.”