“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 […]
The fresh calls came after new reporting detailed how rising U.S. crude exports have helped push the nation’s gas prices to record highs. With gas prices surging to unprecedented levels across the United States, President Joe Biden on Thursday faced fresh calls to use his authority to temporarily halt crude oil exports that—in addition to damaging […]
“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 […]
“We support Congress and the Biden administration taking long-overdue action to… reestablish protections for this crown jewel of our national wildlife refuge system,” said one activist. Conservationists and climate campaigners on Thursday welcomed the news that another fossil fuel company has canceled a controversial Trump-era lease to drill for oil in Alaska’s Arctic National Wildlife Refuge, […]