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Positive News    H3'ed 3/16/22

Tell Congress: Impose Windfall Profits Tax on Big Oil

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Impose a Windfall Big Oil Tax Now
Impose a Windfall Big Oil Tax Now
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Exxon Mobil, Shell, Chevron, and BP combined made $71 billion in *profits* last year.

  • With increased global economic activity, the international price of oil jumped even as these companies’ costs remained the same — meaning outrageous profits for companies that are racing us toward climate catastrophe.
  • Now they stand to make *even more* profits as Russia’s invasion of Ukraine sends oil prices higher still.
  • And they’re exploiting the Ukraine crisis to lobby for more drilling even though that will do nothing to lower prices now or any time soon.
A bill just introduced in Congress by Senator Sheldon Whitehouse — with support from numerous senators and representatives, including Bernie Sanders and Elizabeth Warren — would fight Big Oil’s insatiable greed by taxing these unjustified windfall profits and giving money back to American consumers.
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John Kendall Hawkins is an American ex-pat freelance journalist and poet currently residing in Oceania.

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