Trying to help. Am often wrong, sometimes right! Stocks & Markets. Please DYOR. My views. Onion peeler at heart

Here&There
Joined January 2015
Every country maximises their domestic energy supply to ensure continuity of supply except one. @andyburnham @JohnHealey_MP @Miatsf @jreynoldsMP need to do what they must know is intuitively right (for the climate as cleaner, for the economy as more tax, for prices as gas is a local market and for oil as more supply) and stop playing politics. It’s an absolutely extraordinary act of self harm. If @Miatsf thinks holding a talk in with Martin Lewis is action we are utterly doomed. Explain to the public the need for security, that the North Sea is carbon friendlier than imports and do what is correct for the country P.S the moron premium which is there because of this kind of inaction would rally as our energy policy would immediately become less moronic!
Houthi rebels have seized control of Yemen’s entire Red Sea coast, giving them effective control of a key shipping corridor. Find out how this could give Iran, their backer, a critical advantage in its war with the US 👇 telegraph.co.uk/world-news/2…
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Here&There retweeted
Net zero added £140.3bn to Britain's electricity bills in 2002–24: £2,286 for the average household. Modelled, in 2024 prices. Nobody official counts it. Parliament should require a yearly statement, with data anyone can check. richardlyon.substack.com/p/n…
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Here&There retweeted
Gas prices are currently through the roof at perhaps £70-80/MWh (it's cheaper in summer). Our utterly craven government are offering green hydrogen manufacturers £240/MWh, fixed price, year round, so that power stations can burn hydrogen instead of gas. They hate you. They really hate you.
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Has absolutely no understanding of cost of capital. In the Miliband camp of economic illiteracy
Nope, that’s not how taxes and price works. The price is determined by demand and supply. Companies charge the highest price they can given demand. A tax levied on *profits* does not affect a company’s cost ie supply. Taxes on *windfall* profits (like oil and gas) are the most efficient kind of tax there is.
Readers added context they thought people might want to know
Corporate profit taxes do not directly shift marginal costs but empirical studies show partial pass-through into higher consumer prices. Windfall taxes on oil and gas have deterred investment and production in practice despite theoretical efficiency on rents. dadun.unav.edu/server/api/cor… ecb.europa.eu/pub/pdf/scpwps… taxfoundation.org/blog/big-oil-p… scottishfinancialreview.com/2025/09/03/win…
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If you restrict supply then price goes up until demand collapses. Taxing restricts profits which dis incentivises supply. Tax more is a tax on supply. See North Sea supply @JeevunSandher You should spend some time studying the Laffer curve. The Treasury can help as they say putting up CGT will result in less tax
Nope, that’s not how taxes and price works. The price is determined by demand and supply. Companies charge the highest price they can given demand. A tax levied on *profits* does not affect a company’s cost ie supply. Taxes on *windfall* profits (like oil and gas) are the most efficient kind of tax there is.
Readers added context they thought people might want to know
Corporate profit taxes do not directly shift marginal costs but empirical studies show partial pass-through into higher consumer prices. Windfall taxes on oil and gas have deterred investment and production in practice despite theoretical efficiency on rents. dadun.unav.edu/server/api/cor… ecb.europa.eu/pub/pdf/scpwps… taxfoundation.org/blog/big-oil-p… scottishfinancialreview.com/2025/09/03/win…
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Dear Mayor @SadiqKhan what’s your view of the bund to oat debt spread? And why would you want to rejoin if that spread says France needs to be bailed out Please do reply Thanks
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The Foreign Secretary of a country whose public debt has surpassed £3 trillion flew halfway across the globe to lecture the world on the perils of unsustainable debt and climate change. Irony died twice last week. My latest @Telegraph column: telegraph.co.uk/money/tax/ne…
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This fails the simplest of sniff tests Europe has the same (broadly) gas price but our bills are miles higher so it’s not gas it’s the intermittent subsidies and transmission costs
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Define naughty step? @JeremyWarnerUK Gilts premium to US 10 year pretty close to peak which was 45 Fact that France is now the focus does not mean to say we are off the naught step. Moron premium exists What do I not understand @Frencheconomics It’s a thing as @faisalislam also wrote UK gilts better - but they are not!
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When you say the UK debt is off the naughty step what do you mean? The cost of 10 year gilts is 30bhps higher than the US and close to highs….
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Agreed. Miliband has lost the argument, but we have paid a heavy price in the interim. Labour’s entire position on oil and gas since February 2022 has been a complete catastrophe for the country. It warped the public’s understanding of the energy crisis and created the false impression that moving away from hydrocarbons was a simple substitution, and that we therefore no longer needed to take domestic production as seriously. It was as damaging, in intellectual terms, as the Conservatives entering the financial crisis with a socio-centric worldview built for an era in which prosperity was assumed to be secure. What Britain needed after 2008 was a renewed focus on productivity, investment and wealth creation. Instead, too much of the political class carried on as though the old New Labour economic settlement still worked and needed a few tweaks.
“We’ve been fighting a battle for a long time about whether it makes sense to use our own resources or make ourselves dependent on imports from around the world… Miliband and others have categorically lost that argument.” Our Head of Policy, @HarryWilkinsonn, reflects on the political significance of the announcement to allow production from the Jackdaw gas field.
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Got to love Twitter I question this clown and he blocks me Profit is after tax. So take the profit number divide by the tax rate of 78% is the gross number. Take off the profit he quotes and you get the tax they pay The 27 staff are the staff operating the rig at any one time - ignores all the upstream and downstream point And he does not understand how capital allowances work. They are not a subsidy
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Replying to @jennykleeman
@jennykleeman I watched you on @SkyNews this evening and I'm afraid your knowledge about gas markets is simply incorrect I recommend you read my recent report which explains from first principles how gas prices are set It's also very simple to see that gas prices are not global by looking up the gas price in different places Henry Hub is the main US benchmark JKM is the Asian benchmark TTF is the main European benchmark NBP is the UK benchmark CME gives all their prices in $/mmbtu ie the same currency and units for easy comparison The URLs are here... Henry Hub cmegroup.com/markets/energy/… JKM cmegroup.com/markets/energy/… TTF cmegroup.com/markets/energy/… NBP cmegroup.com/markets/energy/… Also here is the link to my report watt-logic.com/wp-content/up…
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Every Labour MP should read this. Once and then twice @AdrianRamsay @UKLabour They have been duped by mad Ed And then read the DESNZ’s own paper which says even if we hit all targets we need oil and gas for decades
🧾The "Bill that Policy Made" Megathread 🧾 For a while I've wanted to put something together to clearly show that your bill is high because of policy choices. Not gas shocks. Not Iran, and not Ukraine. Thread🧵and video📽️
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Don is either very stupid or a massive hypocrite; perhaps both
I can't begin to explain how angry this makes me. My son is 12 — he will live with the consequences. This is nothing more than an appeasement to Trump. Burnham has destroyed the government's commitment to tackling the climate disaster. 🤬
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Anyone else notice the change here….she is now admitting that importing hydrocarbons is worse for the environment The rest of the drivel is obfuscation Tick Tock the Hypocrite 👇
Government support for drilling at #Jackdaw takes a wrecking ball to any pretence of UK climate leadership & pours fuel on an overheating world - and for what? It’s equivalent to just 2 months of UK gas demand, creates just 27 direct jobs & has *no* impact on energy bills🧵1/4
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Our Andy says it’s just not fair that US gas is so much cheaper than UK gas. Not fair at all…… FFS
🚨 WATCH: Andy Burnham says he has an idea to ban VAR in Labour's next election manifesto "You'd accept it if it got decisions right, but it doesn't get decisions right"
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The gilt moron premium to widen….he is the PM FFS
The most pointless PM of all time.
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Here&There retweeted
He is putting satirists out of work. I'm just not sure how to come up with something better to demonstrate how unsuitable he is for the moment. A policy that you should be able to choose the toy in your Happy Meal rather than putting it down to chance?
🚨 WATCH: Andy Burnham says he has an idea to ban VAR in Labour's next election manifesto "You'd accept it if it got decisions right, but it doesn't get decisions right"
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