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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

What could be fairer than a tax on oil and gas’s North Sea winnings?

An oil drilling platform off the coast of Aberdeen.
An oil drilling platform off the coast of Aberdeen. Photograph: Simon Price/Alamy

North Sea oil producers are ripe for a windfall tax. Without moving a muscle, they have benefited from a doubling in the oil price and a quintupling of the gas price over little more than a year.

There are big names in the frame, like BP and Shell, and some minnows that are now making hundreds of millions of pounds from wells offloaded a few years ago by these two lumbering giants of the industry.

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