The EIA, the US Energy Information Administration, has given the UK Socialists a blistering drubbing for imposing confiscatory taxes on oil and gas companies which will further ruin their already declining domestic energy production. The UK Socialists try to ignore the Laffer curve as higher taxes will actually hurt government tax revenue and their balance of trade. Oil and gas revenues used to be the UK's golden goose in the 70s and 80s when the UK was an oil exporter.
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How UK Socialists Kill Their Golden Goose
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The EIA, the US Energy Information Administration, has given the UK Socialists a blistering drubbing for imposing confiscatory taxes on oil and gas companies which will further ruin their already declining domestic energy production. The UK Socialists try to ignore the Laffer curve as higher taxes will actually hurt government tax revenue and their balance of trade. Oil and gas revenues used to be the UK's golden goose in the 70s and 80s when the UK was an oil exporter.