“Prices are determined by supply and demand.” Cool story. Now explain what determines supply. One thing that socialists fail to understand is that for supply to exist, someone has to commit capital, take on risk and they expect a sufficient return. That return is calculated AFTER tax my guy, just look at any P&L. The mistake that Labour keeps making is that it thinks that incentives don’t matter - that entrepreneurs can take the risk and the government can take the rewards. You raise taxes, they raise prices. If they can’t raise prices they don’t just say cool, no worries, they’ll cut investment, jobs, hold back wage increases - any combination of the three to drive profit. Whichever way you put it, it’s harmful. Some bedtime reading on windfall taxes for you: https://news.stv.tv/north/oil-firm-apache-blames-windfall-tax-for-planned-north-sea-exit-by-end-of-2029