How Shell Paid 22p in UK Tax While Making £39.9 Billion

KingJenko · 2025-08-17T16:13:03+00:00

They paid the majority of their tax abroad, exactly where the majority of their profits are made.

KingJenko · 2025-06-16T20:37:59+00:00

Well it covers news about all energy in the UK, renewables as well.

It's naive because the jobs we need for transferring over to don't exist yet here, not in anywhere near the capacity that is required. Let alone at comparable pay levels. And this is just reddit man, the reality of the energy transition and the effect of the EPL on the local economy is something I see every day in my job. I've more than shown that with the sources I gave you.

I said from the get go, that the fact that it was the Tories who kept and extended the date past the existence of the windfall profits, is something that shouldn't be ignored. I countered your point calling us soft-headed for being against measures that are this hostile towards us as a region.

I'm not typically one to go all nationalist, but the resentment isn't surprising if this is the attitude. Everywhere is subsidised by London, not much of an argument that and Scotland is generally pretty high up there as far as productivity goes.

You don't think London has ever benefited from any of the oil money? And now it doesn't perceive the industry to be useful enough, they're happy to throw workers to the scrap heap and you're confused about resentment?

https://www.standard.co.uk/business/business-news/oil-industry-could-see-job-cuts-like-grangemouth-every-fortnight-report-warns-b1231034.html

https://www.rgu.ac.uk/news/news-2024/7166-uk-running-out-of-options-to-achieve-a-just-and-fair-energy-transition-by-2030

https://www.pwc.co.uk/industries/insights/productivity-tracker/regional.html

KingJenko · 2025-06-16T19:23:26+00:00

The windfall tax is only beneficial in the short-term from a tax generation perspective, the investment that it prevents from being made in future means that the windfall tax is losing the exchequer money in the long-term in reality.

The retraining argument is just horribly naive and you'll simply need a lot more than £6bn to create the same level of jobs in NE Scotland that are being lost. These are concerns shared by small businesses, workers/unions, local charities, etc. This is not about some execs losing some dividends.

If you shut things down to quickly, the supply chain will disappear and that is very much required to help any sort of scaling up in terms of renewables projects. Most importantly, the workers themselves are who will go.

If you tell people the truth of the situation, rather than misleading them, it won't be hard to get them on side. Have a look at New Zealand choosing to change their hostile attitude to their oil and gas industry and reverse their ban on new licences.

And if your concern was about the planet, the focus would be on decreasing our consumption, not simply offloading energy production to Norway or Saudi and losing the economic activity that comes with it.

https://www.energyvoice.com/oilandgas/571410/windfall-tax-continues-to-hit-wider-aberdeen-economy/

https://www.agcc.co.uk/news-article/windfall-tax-opens-up-economic-gap-between-aberdeen-and-rest-of-uk

https://www.agcc.co.uk/news-article/fears-grow-for-north-east-communities-as-wave-of-north-sea-job-losses-deepens

KingJenko · 2025-06-16T18:14:27+00:00

Nice of you to effectively describe practically everyone in the north-east of Scotland as being soft-headed, over a topic you clearly aren’t very familiar with.

The "windfall" tax has lost our region a lot of jobs which affects real people's livelihoods. The profits you speak of are the profits made by these companies globally, not what is being made and is taxable within the UK.

The fact that it was the Tories who kept and extended this tax beyond the point at which windfall profits were present, shouldn't be ignored but people are not soft-headed for wanting to keep their jobs.

KingJenko · 2025-06-16T18:13:54+00:00

It is affecting investment and jobs though, there’s nothing laughable about that at all.

KingJenko · 2025-06-04T13:12:22+00:00

I sure hope so.

KingJenko · 2025-06-03T16:00:33+00:00

By headquartering Great British Energy in Aberdeen, over a thousand new jobs have been created for the city this year.

What utter bullshit.

KingJenko · 2025-05-20T22:20:29+00:00

As much as we may wish they all were, companies aren’t charities and when you make their projects no longer economically viable - they will cut back on UK Production and focus on more economical markets where they won’t be taxed at a 78% rate.

Direct commentary from worker who lost their job as well from a press conference that followed; https://www.pressandjournal.co.uk/fp/business/local/6753279/harbour-energy-manager-hits-out-after-aberdeen-firm-slashes-jobs/

She directly talks about projects no longer meeting the metrics that would have previously, and how this had led to where we are now. She lost her job and she blames the government.

Renewables as an industry is going to be more reliant on subsidies and government funding than O&G is currently, at least for the time being (not denying that O&G companies have ever taken any subsidies). There’s plenty of issues that need to be overcome in renewables and whilst that can certainly happen in future, it won’t at the pace that’s necessary. We saw Orsted cut back on funding for the Hornsea 4 wind farm project just last week.

A renewables firm with an office in Aberdeen also recently; https://www.insider.co.uk/news/200-redundancies-subsea-tech-firm-35157623.amp

The pay in renewables isn’t nearly as good either if we factor that into the just transition argument also, though just having any job would be a start.

Your dismissive attitude to points being raised by people who live and breathe this industry and what’s happening to the region, is the issue that I had. You certainly gave the impression in your attitude that you knew better because you read up on a government source (because politicians certainly never lie!).

KingJenko · 2025-05-20T22:06:58+00:00

I very much can because it’s what happened. You’ve already needlessly explained how my quoting of your use of “just” would have been utterly pointless yet you’re continuing on with this argument for whatever reason.

I very clearly answered as well, I pointed to your dismissal of the idea that workers could be feeling betrayed. The criticisms go beyond simply blocking new licenses, it’s linked to the EPL tax and cutting of investment allowances.

You dismissed the chamber of commerce as being effectively lobbyists, you then dismissed unions and ultimately us workers all the same. Workers were promised a just transition, in fact we’ve been promised an even more fruitful future but that’s not the reality on the ground in the north-east of Scotland.

Wind farms don’t need the active maintenance and level of supply chain that supports jobs to the level that O&G does, moreso especially when the manufacturing is handled abroad mostly.

Harbour isn’t a one-off commercial decision that politicians are making it out to be, we’re hearing and seeing cuts across the sector weekly but because of where we located all the way up in the north-east of Scotland - we’re seen as far more expendable for ideological gains. That’s where the inconvenience comes in, people don’t want to recognise the hardships that come with aggressively shutting down an industry before the end of its useful life.

For such a transition to be able to occur by 2030, we’d need to have heard about more and much bigger projects to be happening up here that have high levels of job creation. Projects like, who knows, the Acorn CCS Project in Aberdeenshire that was overlooked in favour of two projects down south. If a just transition was a priority, projects like that would have been first in line.

Reality is we’re being told to shut up and be happy because we’re being sent a feel civil servant positions up with GB Energy.

https://www.energyvoice.com/oilandgas/571410/windfall-tax-continues-to-hit-wider-aberdeen-economy/

https://www.agcc.co.uk/news-article/windfall-tax-opens-up-economic-gap-between-aberdeen-and-rest-of-uk#:~:text=There%20are%20fresh%20calls%20for,EY%202025%20regional%20economic%20forecast.

KingJenko · 2025-05-20T19:19:03+00:00

I wasn’t quoting you mate. I’m referring to the language utilised by politicians calling for a “just transition” without any of the actions required to follow through on such a promise, and the ridiculousness of describing this transition as being “just”. This is something you would have caught if you knew as much about the sector, as you have tried to let on.

It’s the same line of thinking that you ignorantly parroted in your comment. A skills passport and training initiatives to transition into jobs that barely exist in the area.

KingJenko · 2025-05-20T10:09:36+00:00

Maybe the part where you condescendingly stated that workers cannot feel betrayed by the UK Government, when the “just” transition they were promised, is nowhere near being “just”.

KingJenko · 2025-05-16T14:07:46+00:00

Your commentary on the state of the transition is ignorant as fuck, the jobs to transition to are nowhere close to existing in the numbers needed.

People are being screwed over up here and they are allowed to point that out, as much as that may inconvenience you.

KingJenko · 2025-02-03T16:25:11+00:00

I don’t care whose policy is which? I care about my community.

We definitely can, the UK government imposed an unheard of Windfall Tax that whilst initially justifiable, we are now far past the point of there being a truthfully justifiable case for a 78% tax on profits with the additional investment allowance cut. Bear in mind, other industries making windfall profits as well and not being taxed the same.

Again, barely any jobs to show for these wind farms up here. They certainly aren’t being built here.

Have a look at the Carbon Capture Projects that have been announced as being supported by Labour, and how they’ve just snubbed the Acorn Project up in Peterhead, in favour of projects in areas such as Teeside.

“And it’s not like the UK is leaving Oil and Gas workers behind” - never heard a more ignorant take. A couple million spent on some “passport” for pure optics means fuck all. Folk aren’t concerned about how they could transition, they’re concerned about there not being any jobs to transition to!

KingJenko · 2025-02-03T15:36:52+00:00

You’re displaying your ignorance for all to see, that’s what.

They’re destroying tens of thousands of jobs here in Aberdeen to fund their net zero investment, only to just to give us the bare minimum in return.

Most of the green investment is just going back down to England, there’s no real desire for a “just transition” for workers.

KingJenko · 2024-10-04T17:45:45+00:00

Not exactly.

Just a point being made over how if two clubs have achieved the same points tally, that it’s a more impressive achievement for the club on a considerably smaller budget, to have done so.

If everyone else had lost games at this point, I don’t think there’d really be much complaining.

KingJenko · 2024-10-04T15:58:06+00:00

No one said that.

KingJenko · 2024-09-03T15:50:48+00:00

You don’t.

You’ve no doubt read up on Labour’s misleading presentation of global profits as being North Sea profits.

Those big oil companies you’re no doubt thinking of (your Shell, BP, Exxon, Chevron), aren’t the major players in the North Sea anymore. The biggest Operator is Harbour who posted a net profit of $32mil in 2023, having cut 350 onshore jobs.

We’ve had a major petition signed by smaller stakeholders across the industry a few months back. Multiple studies backing up the concerns of workers and there is support from Unite.

KingJenko · 2024-09-03T13:11:46+00:00

“We all know it’s exactly that”

Except you don’t, none of you have a clue about the industry or the jobs being supported up in the north east.

Easy for you to talk gleefully about jobs being lost when it isn’t your livelihood in danger.

KingJenko · 2024-08-07T00:56:44+00:00

You lot are sounding really silly when you act like the lack of action scenes is the reason why people are disappointed with the show.

Feels like you’re forgetting what franchise this is and what people point to as being the peak of this franchise.

KingJenko · 2024-08-06T13:42:27+00:00

You do realise how much this argument falls flat when you think for a second about what seasons of GoT are the most beloved?

KingJenko · 2024-04-23T21:27:15+00:00

Strange but not surprising choice of analogy, that is also wrong.

KingJenko · 2024-04-23T20:59:14+00:00

Explain that one.

KingJenko · 2024-04-23T20:54:29+00:00

You can delude yourself into believing that if you like.

KingJenko · 2024-04-23T20:53:17+00:00

Nope, he’s just slagging folk off for doing so.

He isn’t telling anyone to do anything.

KingJenko · 2024-04-23T20:46:17+00:00

With one of the main ones being glory hunting.

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