Pricey power, fuelled by high oil prices, is already causing headaches, with MPs muttering about windfall taxes on utility firms and talismanic pledges to reduce fuel poverty (defined as living in a household that spends more than 10% of its income on heating) in tatters.

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The export of oil from government-owned fields--not including, that is, "windfall" taxes--accounted in 2006 for 45% of government income.

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My take: all this saber rattling about high royalties and windfall profits taxes is designed to scare the minnows out of the water and clear the way for the government to make a development deal with the big guys who have the balance sheet and know-how to get the job done.

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He and Tomi enjoyed the windfall and paid the taxes on the winnings.

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The good news: You will only owe long-term capital gains taxes on the windfall, which maxes out at 20%.

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Politicians believe, probably correctly, that they will spend the windfall from licence fees and casino taxes more benevolently than gangsters would.

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He has also proposed several increases in corporate taxes, including a "windfall profits" tax on oil.

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As a result, states that relied on pick-up taxes tied to the repealed federal credit lost their windfall.

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He wants a windfall profits tax on oil, to go along with the new taxes he also plans for coal and natural gas.

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This argument justifies their strategy to solve the fiscal crisis by cranking up taxes on businesses and the top 5% of families, the implied recipients of this windfall.

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