“It’s time for the president to demand that Congress pass a windfall profits tax on Big Oil and use the revenue to provide rebates to consumers NOW!” wrote Sen. Bernie Sanders. ExxonMobil indicated in a securities filing submitted just ahead of the holiday weekend that its profits doubled in the second quarter of 2022 compared to the first […]
“Gas is over $5 a gallon. Why? Well, oil companies made $93 billion in profits in the first quarter and are spending $88 billion on stock buybacks.” Sen. Bernie Sanders on Thursday slammed oil companies for raking in huge profits on the backs of U.S. consumers and reiterated his case for a windfall tax, a demand […]
“It is common sense” to use such a tax to provide rebates to consumers, argued Rep. Ro Khanna. “You have these oil companies making record profits at a time of a national emergency.” Progressive members of Congress on Wednesday ramped up calls for a windfall profits tax on oil giants after President Joe Biden pleaded directly […]
“Big Oil is intentionally profiteering off the war in Ukraine,” said one campaigner. “We need a Big Oil windfall profits tax.” Chevron and ExxonMobil announced Friday that their profits surged during the first quarter of 2022, prompting fresh calls for a windfall tax as the U.S.-based oil giants continue to exploit Russia’s war on Ukraine to […]