Andy Mayer, IEA Energy, Environment and Infrastructure Analyst, has commented in City AM on Labour’s proposal to introduce a windfall tax on North Sea oil firms.

Andy commented that “Tinkering with price controls, loans and clawback schemes will not change this, just delay and extend the pain, while undermining the central purpose of high price signals, to invest in better alternatives. These include simplifying the regulation of the North Sea, unblocking fracking, and developing strategic gas reserves.”

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