Interview with an energy commentator on Talk TV (UK)....

Interview with an energy commentator on Talk TV (UK).

https://youtu.be/dLhrQ4J7L7s?si=ChWc3FD0Wq7jccat

As @sergeant has said the issue is finally getting some more mainstream press but the message remains the same. The Energy Profits levy is a two part tax, a Windfall Tax on profits and an Investment Allowance for capex. Labour can't remove one leg of the tax and expect the market not to collapse. Labour are being forced to respond to these claims and there response to date has been to accuse the O&G industry of scaremongering. Unfortunately anyone with an pen and envelope and a basic understanding of year 12 maths can do the maths; UK O&G projects will not work under Labours proposed O&G policies.

Even if does adjust Labour policy a lot of damage has already been done and it will take some time before the industry recovers. A fair amount of capital has already been re-directed and, without a revised policy the flight of capital will only speed up.

Short term HHR may provide a decent trading opportunity. It is a long road to FID however HHR's SP has bounced on news before returning to .006-.007. On the announcement of a potential Viaro/Shell/Exxon deal the SP rose 40% before returning to 0.007. If that deal completes the SP should get a nudge. Never really been a ST trader but right now I think I would take the risk just to try and get my average costs down!