Jeremy Corbyn Is Coming for Your Old Profits
(WorldNews Business)

By Chris Hughes (Bloomberg Opinion) — Britain’s opposition Labour Party is turning its sights on the country’s aging fossil fuel industry and raising the specter of a windfall tax. The oil and gas companies working in Britain’s North Sea are a soft target and taxing them more might be justified. But the real challenge for Labour or anyone else is to identify the U.K. industry’s role in the transition to cleaner forms of energy and the fiscal incentives that would deliver that. The North Sea is a collection of mature, declining fields. While the...