Shell

...announced profits of almost £13B today.

there will be calls no doubt for windfall taxes on these "obscene" profits. But such thinking is sloppy and here's why.

First shell already pay taxes around £4B as well as employing loads of people, facilitating the governments petrol tax revenues, VAT, Employers national insurance etc. They pay enough.

Second, companies can move operations easily today. We should welcome success, not be suspicious or openly hostile to it.

Third, when the storms struck the Florida coast, we didn't see the government offering money to help out with the repairs, Shell and its shareholders took the risk, they should take the profit.

Fourth, we need to source new oil deposits. The government aren't looking, Shell are and this will take a lot of money.

Fifth, we are on about new sources of energy and Shell and others are researching this. Taxing their profits will hit their R & D budgets.

Sixth, you and I probably own part of Shell through our pension funds. We would be taxing ourselves and pensions need all the help they can get right now, not more taxes.

Seven, what is obscene about making a profit ? Is there a level of profit that is "decent" and another that is immoral, and who says what this is?

So really, no new taxes, Pu....lease