Pay more tax to protect markets – van Beurden
Outgoing Shell chief sees higher government take as a much lesser threat to the oil and gas industry
Ben van Beurden, CEO of Shell, dismissed on Tuesday suggestions that energy market mechanisms by themselves can tackle current “unprecedented” moves in end-user prices. But he told the Energy Intelligence Forum that the audience should accept paying higher taxes to fund state interventions on behalf of hard-pressed consumers as a lesser evil than governments seeking solutions in modifying the functioning of wholesale markets. “Voices are there saying, ‘let the market take care of it; the best remedy against high energy prices is high energy prices,’” says van Beurden. “I am afraid I do not subscribe to that view. You simply cannot have a market that behaves in such a way… that it is going to
Also in this section
24 October 2024
Producers in the region see significant gains to be made by boosting output using the infrastructure already in place
23 October 2024
Markets have seen no material disruption from the war so far, but as the fighting goes on it is a matter of when, not if
23 October 2024
Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain
22 October 2024
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026