Budget 2011: Oil amp; Gas Tax changes

UK Independent -- "North Sea oil production has slowed to its lowest level since records began 15 years ago following the Chancellor of the Exchequer's recent tax raid on the industry. An update from the U.K.

WASHINGTON — U.S. job growth grew modestly in January and gains in the prior two months were bigger than initially reported, supporting views the economy’s sluggish recovery was on track despite a surprise contraction in output in the final three months of 2012. Employers added 157,000 jobs to their payrolls last month, the Labor Department said on Friday. There were 127,000 more jobs created in November and December than previously reported. The unemployment rate, however, edged up 0.1 percentage point to 7.9%.

According to Socialist newspapers and politicians “to pay a tax is an act of solidarity, a patriotic act.” Those leaving France because of its uncompetitive tax rate see things differently. Please consider Socialists Denounce Gérard Depardieu for Leaving France

ExxonMobil reported its first quarter 2011 earnings today, which came i

Canada’s urgent hunt for buyers for its oil is being thwarted as the European Commission sticks to a plan to label fuel from tar sands deposits as highly polluting, deterring refiners bound by environmental rules. Intense pressure from Canada, seeking new markets to compensate for dwindling U.S. buying and discounted sales, has not convinced the EU executive to abandon its proposal to brand tar sands oil as more carbon-intensive than conventional crude.

As part of our series looking at the future of American energy, The Financialist spoke to Osmar Abib, global head of Credit Suisse’s oil and gas investment banking group, about the rise of natural gas production in the U.S., thanks in large part to the development of shale gas fields.    The shale drilling revolution that has allowed natural gas producers to access vast, previously unreachable resources has already had a profound impact on the U.S. energy sector, but what that means for the broader economy and global trade is a larger question.  

OTTAWA — Canada has moved up three places to eighth in a global comparison of the most advantageous place to pay corporate taxes, placing the country in the top 10 for the first time. The annual study by PwC, in conjunction with the World Bank and the International Finance Corporation, shows Canada moving sharply up in a 185-country comparison. Canada placed 28th as recently as 2010, but continuing reductions of the corporate rate both federally and provincially, as well as reduced red tap, has dramatically improved its standing.