Interesting

[Brazen]

'Windfall tax suggested now for all resources'. Lead story in Business Day.

[SimonPB]

I can't see it flying. But who knows. article at
http://www.businessday.co.za/articles/topstories.aspx?ID=BD4A397207

[Brazen]

Yip. And I also can't say the idea is ertirely without merit. Non-renewable resources have been stripped from this country by the likes of AGL and what have they really put back? (putting on Karl Marx Rules T-shirt)

[Brazen]

Of course, as a shareholder I'm outraged.

[#5]

There is precedent: Zambia has just upped sales tax on copper from 0.6 per cent to 3 per cent; the UK also has a windfall tax on Brent, just to mention a few. Others are considering similar schemes or have them in place.

[SimonPB]

ya but the real problem is what happens when/if oil heads to $10 (gold to $76, etc.). Then the gov must reverse the payment and pay these co's for lost income - and that becomes a major mess. Of course SOL is a slightly diffeent beast as it did get gov support for a long time. Further one could claim that the other miners got more subtle support from gov, but heck they still pay lotsa tax. Interestingly wind fall tax on oil companies is no a SA thing. UK and others are looking at or have implimented it.

[bothac_1]

How do you guys think this proposal will affect the JSE today? Could we see some selling or won't investors be phased by the tax at this stage?

[#8]

Most analysts had the info last week already - it's in the draft report, so the only peoples' surprised is us prolls.

[RDB]

futures down to 24,075

[Brazen]

Asia and Oz red, so probably us too. I wonder for how long. . .

[Werner_1]

so what is your call for SOL, oil prices higher, tension regarding Iran, Bush treatening with war, rising petrol prices, i think this should be good for SOL, but the shareprice does not agree at the moment, would this change.

[RDB]

took small long position @ 24,049, currently futures 24,045 after we saw 24,110 - keeping close eye as my 30 and 60 charts might still have downside - took long after I sold overnight short @ open

[RDB]

that should be 24,010 and now we are 24,030

[RDB]

pre mature long futures 23,773

[RDB]

previous entry should be 23,973 currently 23,987

[Asher]

Why would they will have to reimburse these companies - when my income goes down I don't get reimbursed I just don't get taxed! These companies are sitting at record profits but the countries they plunder have no share in that...

[Wizard]

If you were a foreign investor, where would you put your money, into Sasol with the windfall taxes or Exxon Mobil?

[SimonPB]

wizard, depends what you want. SOL is not a traditional oil company and in decades to come I think it'll get most income from royalities.

Asher, because a windfall tax is on super profits. It is not a tax in the real sense. So now if oil goes to $10 and SOL goes broke, then what. The gov just says, well we got our windfall and now sol must work it out? Without the windfall maybe they wouldn't be going broke?

[liquid]

RDB -notice TOP 40 broke a strong three week support @ 23,860? Whats your take on this?

[liquid]

Oh and FTSE free falling a bit.. whats up with that?