Laurence Burchell

[Arsenal @Arsenal]

The Arsenal. Your Premier League champions.

[Andrew Bowie MP @AndrewBowie_MP]

And another one. OK, for the slow ones in the room…
The Government tax profits made in the UK by production of oil and gas.
BPs profits did not come from the UK. It also did not come from drilling. It came from global trading.
The ignorance on their own policies is frightening.

[Andrew Neil @afneil]

You’re the energy secretary. Yet you don’t seem to know that BP’s ‘excess profits’ come from its global oil trading division, which is not subject to UK ‘excess profits’ windfall tax, not from its North Sea activities, which are. Remarkable.

[Michelle Dewberry @MichelleDewbs]

I get it, the optics look bad.

However - This is a somewhat bizarre take from Ed.

Not least because the Government is literally also making excess profits as a result of this situation (to the tune of an extra £20m per day). They could have reduced their tax/duty take during this period, but have chosen not to.

Also, as I said on my show tonight, people screaming for more windfall tax on BP don’t understand what they are talking about…

The ‘windfall tax’ (total rate of 78%) applies to BP’s North Sea UK revenue, which is fairly small in the grand scheme of their overall company revenues.

The large boost to their profits this time, came largely from their oil trading function (exempt from EPL). And, you guessed it, traders the world over literally trade volatility / shocks etc to try & make a profit. That is their job.

If people are against traders making profit, (tho of course they never have the same concern when traders get it wrong and make losses) they need to be careful what they wish for - especially if they wish to have any hope of a decent pension pot…

[Laurence Burchell @LBurchell92]

@Ed_Miliband Not only that, emissions are also higher as we are more reliant on imports of gas from Norway and the US...but you conveniently don't mention that part

[Laurence Burchell @LBurchell92]

@Ed_Miliband Absolute nonsence. You know full well that the majority of bp's profits are made outside of the UK? Tax revenues are actually less as a result of the windfall tax as investment in the domestic UK oil and gas industry has dried up and production decline has accelerated

[Laurence Burchell @LBurchell92]

@JackMLNX @SpeechUnion @Ruaidboy .

[Andy Murray @andy_murray]

Never even liked tennis anyway.

[kendall roy’s second wife @princekendalll]

biden’s team preparing for tonight

[Laurence Burchell @LBurchell92]

@Ruaidboy That's funny, I've also just realised I actually quite like Tottenham after all

[Laurence Burchell @LBurchell92]

@JackMLNX @danieljksn @Ruaidboy Saw this yesterday as well, seems about right haha

[Laurence Burchell @LBurchell92]

@JackMLNX @nocontextmemes @Ruaidboy Reminds me of our spiders business lunch haha

[Laurence Burchell @LBurchell92]

@Ruaidboy @adidasfootball @_DeclanRice @Arsenal He's here and he's perfect

[Laurence Burchell @LBurchell92]

@beau_the_beard @Ruaidboy

[Laurence Burchell @LBurchell92]

@ODDSbible @alhan @Ruaidboy ❤️

[Monzi [cvg] @MagicOfBarca]

.@Cristiano

[Laurence Burchell @LBurchell92]

@PatrickTimmons1 @Ruaidboy A super Sunday indeed 🍾

[Laurence Burchell @LBurchell92]

@JackMLNX @ArseQueef @Ruaidboy ❤️

[Laurence Burchell @LBurchell92]

@ArseQueef @JackMLNX @Ruaidboy

[Laurence Burchell @LBurchell92]

@JackMLNX @KennyHoopla Unbelievable!