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Watching the World: Chevron says UK 'unstable'

04/25/2011
The oil and gas industry isn't averse to airing its views as Chevron Corp. Chairman and Chief Executive Officer John Watson showed in the UK last week when he spoke loudly and clearly in opposition to new taxes."It was very disappointing to see the tax hike," said Watson, referring to the decision by Britain's Chancellor of the Exchequer George Osborne to increase the country's supplementary oil and gas levy to 32% from 20%."It was done without consultation with the industry," Watson told the Financial Times. "It's the third tax hike in 10 years, making the UK one of the more unstable investment climates for our business."The UK is "unstable" as an ...
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