“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 […]
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, […]
The United States and five other countries said Tuesday they plan to tap their strategic oil reserves for refining into gasoline and other energy products in a coordinated effort to cut rising costs that their consumers are paying. The White House said that over the coming months through April 2022 the U.S. would make 50 […]