Vermilion Energy Inc T.VET

Windfall tax passed?

[Overertune]

How does that affect vet? Nobody worries?

[Quintessential1]

A third of third not counting operating costs and whatever cap-ex the bean counters now choose to throw at their undeveloped resources. It is not nice but it isn't going to kill 2022's total takeaway either. GLTA Longs

[Moemoney42]

Can't see that windfall tax even getting off the ground personally.. they have to have all the members in the Eurozone to agree.. ever try hearding cats..?? :-0

[Quintessential1]

It didn't pass? https://www.bbc.com/news/business-63089222 "Ministers have agreed windfall taxes on certain energy companies as well as mandatory cuts in electricity use." Is this still just a proposal that requires a vote? GLTA

[Moemoney42]

I stand corrected.. but here's the fly in the ointment.. how do you determine "surplus profits"  "The plan includes a levy on fossil fuel firms' surplus profits and a levy on excess revenues made from surging electricity costs." "EU ministers estimate that they can raise €140bn (£123bn) from the levies on non-gas electricity producers and suppliers that

[prested]

As usual politicians have made the rule unenforcable because of the complexity of it. Like, a camel is a horse designed by a committe! Never going to work

[Quintessential1]

Yeah, I have no idea what level they are going to cap at.  VET has made a lot of profit but if the surplus tax is applied to a set number they may fall under or just above that bar as bigger oil companies make way more in dollar value but  not neccessarily percentage of costs.  I am sure that enough forewarning has been given that VET's management have already looked into the

[Moemoney42]

I suppose they could balance the "surplus profits" by transferring some that could fall into that "surplus" category to other areas of the globe they operate.. thus no European "surplus" would be evident as VET is domiciled in Canada..?? 

[Quintessential1]

This post has been removed in accordance with Community Policy

[Overertune]

The EU is thinking about 50-90%.  These idiots are more and more greedy.

[Oldnagger]

Europe has high energy costs not only through Russia but also due to their own incredible stupidity of shutting down coal and nuclear before they had a suitable replacement. Now they want to bring some coal and nuclear back , yet at the same time they want to hit it with excess taxation . That is not an economic plan , that just like in the USA is a hide my stupid posterior plan !!

[Oldnagger]

PS , don't sweat the small stuff, right now our greatest asset as petroleum investors is an incredible domestic and international line-up of idiotic politicians. The world needs energy not ever increasing doses of idiocy !!

[marketsense]

Truer words cannot be said.  Nagger,  you have stated the problem perfectly and succinctly.  We indeed have a surplus of idiots running gov'ts who have created  this energy crisis along with the help of another type of idiot in Russia.  He is less ignorant but more emotionally disturbed.  All of the above are severely out of touch  with reality despite their