19 Apr '11, 10am

Oil companies are throwing their toys out of their very expensive prams. #beyondoil

Ever since last month’s Budget , oil companies have been complaining about George Osborne’s tax on North Sea oil and gas. Yet many have just announced record profits - boosted considerably by current sky-high oil prices. What do they take us for? Taxing North Sea oil producers and cutting fuel duty wasn’t the smartest of ideas. Personally, I’d have preferred the Chancellor to explain what he'd do to help us use less oil – demanding more efficient cars, for instance, or giving everyone gold-plated bicycles to ride about town on (or not). But, the oil companies were furious. Instead of accepting that they were making a fortune from keeping us hooked on oil, they immediately demanded to have the tax withdrawn. Norway's Statoil has even put its North Sea exploration plans on hold - the oil company equivalent of picking up your ball before a local kickabout, and going home with...

Full article: http://www.greenpeace.org.uk/blog/climate/what-are-oil-co...

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