The right hon. Gentleman is setting out the problem, but the trouble is that his solutions do not add up. Does he acknowledge that last year Shell and BP, the two largest oil and gas producers, posted a £26.9 billion and £22.5 billion loss respectively? How much would his windfall tax get from those situations? Does he also acknowledge that the biggest investments in renewable energy—not least hydrogen, into which hundreds of billions are being invested—come from companies such as BP and Shell, which we need to continue investing in alternative non-fossil fuels?
Oil and Gas Producers: Windfall Tax
Proceeding contribution from
Tim Loughton
(Conservative)
in the House of Commons on Tuesday, 1 February 2022.
It occurred during Opposition day on Oil and Gas Producers: Windfall Tax.
Type
Proceeding contribution
Reference
708 c204
Session
2021-22
Chamber / Committee
House of Commons chamber
Subjects
Librarians' tools
Timestamp
2022-02-02 19:46:50 +0000
URI
http://hansard.intranet.data.parliament.uk/Commons/2022-02-01/22020153000004
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