Windfall Taxes Will Raise Price of Crude, Analyst Sen Says BP Plc said it will look again at its plans in the UK, raising questions about whether a £5 billion windfall tax on oil and gas profits announced by the government included enough incentives to preserve investment. The statement raises the possibility of reversal by the London-based oil major, which has previously said that planned investments of £18 billion ($23 billion) in the country by 2030 weren’t contingent on whether or not the government raised taxes. “Today’s announcement is not for a one-off tax -– it is a multiyear proposal,” BP said in an emailed statement. “We will now need to look at the impact of both the new levy and the tax relief on our North Sea investment plans.” The UK government announced on Thursday that it will impose a 25% windfall tax on oil and gas companies, […]