Vermilion Energy Inc. T.VET

Economics 101

[Oldnagger]

https://oilprice.com/Energy/Energy-General/Top-UK-Oil-And-Gas-Producer-Backs-Out-Of-Licensing-Because-Of-Windfall-Tax.html

[Citizen13]

Sadly the woke politicos who apparently bow to their green haired eco terrorist voters who get around on EV skate boards dont give a damn. They are happy they can stick it to the industry one last time before it apparently fades away . The issue is , it's not going away,  Just moving to other usually nasty places which will reap the financial benefits.  I think the dummies are OK

[Pandora]

You noticed that did you! Isn't that what they say about politicians in general -- How can you tell a politician is lying? His lips are moving!

[Overertune]

The idiots in Europe will never wake up.  When ng becomes more pricey next year.  They will raise windfall tax to 100%.  Until every oil/gas producer left.

[Quintessential1]

That seems very much like nationalizing O&G an option that I am kind of surprised they haven't put forward yet.  They are afterall their resources. After that they will have to pay the costs of their mismanagement for extracting their own resources. They can of course tax the imported O&G if they can get anyone to deliver it. They have hard decisions to make and their populous

[Citizen13]

Changing the game after companies have started producing on rules X which change to rules Y is essentially partially nationalizing the industry . Again, how they are able to get away with this is beyond me . I guess they assume the producers will fold in thinking of suing the government . IMO they should do it and just let the lawsuits drag on for decades. Cheaper than giving the leeches $ 750 Mil

[Quintessential1]

Windfall taxes on winfall profits are not without precedence. In 2006 EXXON paid $27.4 Billion in taxes on a $67.4 Billion windfall profit Over 40% in taxes and they either did not feel they could sue and win or just did not.   $27.4 Billion would buy a lot of legal clout not that EXXON needs any. Solar power companies are getting the worst deal as governments are not only are

[prested]

Particularly agreed with your comment that VET has a carrot but no stick. Keep up the good comments. Much appreciated.

[Quintessential1]

Certainly constructive talks are always better than empty threats. That being said, in the case of Ireland and the Corrib VET may have no stick but their partner the CPPIB may have and certainly dangles a larger investment carrot. VET can offer reinvestment in the Corrib gas field and increased and extended plant production. The CPPIB can offer that and much much more being the holder of