REUTERS
Shell to ‘evaluate’ 25 bln pound British investments after windfall tax
LONDON, Nov 21 (Reuters) – Shell (SHEL.L) said on Monday it will evaluate plans to spend up to 25 billion pounds in Britain over the next decade following the government’s decision to increase a windfall tax on oil and gas producers.
“We’re going to have to evaluate each project on a case by case basis,” said Shell’s UK country chair David Bunch told the Confederation of British Industry’s annual conference in Birmingham. “When you tax more you’re going to have less disposable income in your pocket, less to invest.”
The tax, known as the Energy Profits Levy (EPL), will bring the total taxes on the sector to 75%, among the highest in the world. It nevertheless allows to deduct most investments in new oil and gas projects from the tax.
In a statement on Monday, Shell said that the EPL should be designed to provide incentives to address oil and gas supply shortages as well as longer-term investments in renewables.
To reach that objective, the EPL should include a “price backstop” in case oil and prices drop sharply and should also be expanded to include investments in wind generation, hydrogen and carbon capture technology, Shell said.
Shell said earlier this year it plans to invest 20 to 25 billion pounds over the next 10 years in Britain’s energy infrastructure including oil and gas, offshore wind, electric vehicle charging and hydrogen.
“The energy sector needs to have confidence that there will now be a stable investment climate following a period of considerable uncertainty,” Shell said.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
