BP's North Sea Exit, Miliband's Tax Grab, Reeves' Fuel Duty Rise

On May 1, BP is eyeing an exit from the North Sea, putting 2 billion pounds worth of assets

up for grabs.

The oil giant's new chief, Meg O'Neill, is sped up after Energy Secretary Ed Miliband

slammed their huge profits as wrong and backed a steep tax grab on the industry.

This move hits just days after Miliband ripped into BP for cashing in on the energy crunch.

It was already halted new drilling licenses and jacked up the windfall tax to 78% on

North Sea profits all in the name of hitting.

Net zero goals fast.

Folks are calling it a gut punch to Britain's energy setup, especially as supplies from

the Middle East Titan amid that Iran conflict.

Critics argue pumping more homegrown oil and gas is key right now, not chasing green

dreams that scare off investors.

Meanwhile, Chancellor Rachel Reeves caught heat claiming petrol stations are gouging drivers

with war-fueled price spikes.

The competition watchdog shut that down, saying pup margin stayed pretty steady since the

trouble started.

And get this, Reeves pocketed over 350 million pounds and extra VAT from those higher fuel

prices.

But she's still pushing ahead with a fuel duty rise this September, leaving drivers squeezed

while the government's tax hall swells.