Post by
Dibah420 on Sep 25, 2022 2:12pm
NPI does not believe that the cap would be retroactive."
I believe this is a reasonable assessment on the part of NPI.
If European authorities renege on existing contracts they'd lose all credibility and additionally could have a ton of litigation on their hands. However, I admit to not having read the fine footprint.
I also acknowledge that governments come and go and we have whipsaw policy changes coming right and left. Obama put the brakes on the XL pipeline. Trump reactivates it on Day 1. Biden bans it once again on his Day 1. John Kerry, Biden's climate czar, begs for lower fossil fuel production; Jennifer Granholm, Biden's Energy Secretary, is rooting for higher!
Leaving the public scratching their heads and losing what little hair is left there.
Thanks Comrad Putin!
An earthquake causes a Pacific tsunami which leads to a disaster at Fukushima. Japan bans all nuclear power. Today, Japan is forced to reconsider.
Worse, Angela Merkel perhaps succumbing to public fear, abandons nuclear power in Germany. Today Germany is scrambling for foreign energy supplies and being forced to reactivate coal generators. At least one European country has passed legislation limiting thermostats to 27c in summer and 19c in winter!
In Canada, our Liberal government which campaigns on climate change and has stopped several pipeline proposals, is compelled to BUY a fr!ggin' pipeline with taxpayer dollars. Today we are drilling with abandon and building refineries.
The out-take on all of the above is that political decisions are made generally with an eye on the next election cycle.
Energy infrastructure on the other hand takes decades to build. Or more.
The cost of miscues is borne by all of us.
Cheers.
Comment by
BayWall on Sep 26, 2022 6:54am
Also have to be clear when what income is to be included for the windfall tax. Orsted's quote:"These different sources of market price exposure underline the importance of tax only being imposed on actual windfall profits".