oil companies

432 days ago

Is Rachel Reeves the most economically illiterate politician in Britain?

The shadow chancellor does not seem to appreciate that she can only tax the profits of oil companies on their UK earnings and North Sea Operators already pay 75% tax. As the tweet below somehow she seems to think that adding to that tax will both cure inflation and slash fuel prices. I realise that there are many truly economically illiterate MPs, but this one could be Chancellor of the Exchequer by the end of next year.

3016 days ago

Tom Winnifrith Bearcast 24 January: Himex this is jail for Rob Terry & bad news for Watchstone + crap AIM investment companies

I am sorry for the delayed podcast but I am only just back from time in the Grim Northern welfare safari with the mother in law and thus can now let myself go with a volley of bad language.  I end with an explanation of who benefitted from the £150 million + Himex fraud at Quindell (QPP) laid bare earlier HERE and how it also affects Watchstone (WTG). Before that I talk of my annoyance on the silly blogger spats and the explain the difference between a cash shell and an investment company and why I regard our work on exposing the latter as invaluable. In the middle segment I have more bad news for oil companies such as XCite (XEL), IGAS (IGAS), Petroceltic (PCI) & Gulf Keystone (GKP) and for the sector as a whole but also for the markets. Dont blame China, we bears are still in the driving seat.

3019 days ago

Tom Winnifrith Bearcast Extra: Dear George Osborne dont bail out the North Sea with MY cash - let it go bust

I continue the theme of what capitalism really means from yesterday's bonus bearcast on the news that North Sea oil companies want Chancellor George Osborne to use your hard earned cash to bail them out. I explain why the Chancellor needs to ignore this completely even if it means that the North Sea basically goes bust taking a number of listed companies - I mention XCite (XEL) specifically - with it. Sorry, I don't care if Aberdeen becomes a ghost town. Taxpayers from the profitable part of the economy should NEVER subsidise loss making sectors, be they milk farmers, oil companies or the Yorkshire coal miners that the great and much missed Maggie Thatcher quite rightly put on the dole.

3072 days ago

From one train wreck to another, is Raylene Whitford of Sefton “fame” helping Solo Oil?

I am attracted to stunning women. My wife and, obviously, Cheryl Cole. Evil Knievil is attracted to fine wines. In fact to any wines. And it seems as if pouting ex Sefton Resources (SER) FD Raylene Whitford is attracted to overvalued cash strapped POS AIM listed oil Companies.