Falling Oil Prices A Concern
Declining Brent crude prices is a concern for the oil and gas industry. With falling oil prices worldwide, the issue of capital investment in the industry becomes a major issue.
Oil and gas exploration is a very expensive endeavor and many investors are putting a freeze on its investments.
In the UK, looking to maximize its investments, oil companies are also lobbying for tax cuts and other incentives. Tax cuts and monetary incentives could result in the willingness of companies to invest in infrastructure and exploration, but in the short term, it means lower tax collection for the government.
This in turn could mean budgetary allocations will be shot. Even without the tax cuts, the declining cost of fuel already means lower tax revenue from the industry. In the end, both the government and the industry need to look after their interests.
Read More At:: http://www.bbc.com/news/uk-scotland-scotland-politics-29923789
Terry Smeader
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