“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 […]
Russia’s Gazprom halted gas supplies Wednesday to Poland and Bulgaria, the latest step in the economic fight linked to Russia’s invasion of Ukraine. Russia has demanded that European nations, many of which rely on Russia for large portions of energy supplies, pay for natural gas in Russia’s currency, the ruble. Gazprom said Wednesday that Poland […]
Bonuses alone for executives at 28 of the top oil and gas companies combined topped $31 million combined. Research out Monday reveals that CEOs from 28 of the top oil and gas companies enjoyed a combined $394 million in total compensation in 2021, including through “eye-popping” bonuses that together topped $31 million. The analysis from Accountable.US, first reported by The Guardian, […]