“As Chancellor Rishi Sunak perfected his U-turn on a windfall tax, the share prices of BP plc (LON:BP) and Shell PLC (LON:SHEL) also looped lower, before climbing back up, as investors shrugged off its impact given that it is expected to be a short lived hit. BP And Shell Shrug Off Windfall TaxIt may mean dividends are pushed lower temporarily, but given that tax will reduce if companies invest more, it’s likely to mean an acceleration of investment by BP and Shell, a strategy which will be welcomed by many investors who see environmental progress and not just shareholder pay-outs as crucial f…
