Posted on 09/20/2022 11:29:43 AM PDT by Olog-hai
The (energy) industry is “feasting on hundreds of billions of dollars in subsidies and windfall profits while household budgets shrink and our planet burns”, António Guterres told world leaders in New York.
Record profits enjoyed by fossil fuel firms at a time of high energy costs and a cost of living crisis have prompted calls in many countries for leaders to impose a one-off tax on the extra income.
Money raised should be used to help people struggling with rising food and energy bills, as well as to compensate countries suffering the most severe effects of climate change, the secretary-general told the United Nations General Assembly […]
The European Union plans to raise about €140 billion (£121 billion) by imposing windfall taxes on energy companies’ “abnormally high profits”, a move that could put pressure on Prime Minister Liz Truss to do more in the “mini budget” on Friday. …
(Excerpt) Read more at news.sky.com ...
Screw the UN grift machine!
The purpose of the taxes is to drive down energy exploration and production. If they get it, get ready for ‘normalization’ of $1,000 electric bills and $300 fillups for mid-sized cars.
The UN was not created to ATTACK THE WORLD , disband it
Globalists(Klaus Schwab) are also preparing for a Climate Lock-Down ,LOL
A retarded, banana republic third worlder wants to tell Americans how to live and that they should be taxed more. He definitely needs his ass kicked. The UN fiasco was created so they could give token low I.Q. third worlders a government job that makes them look like we GAS about what they think and want.
Wasn’t aware that Portugal was part of the third world.
Certainly, Guterres (of the Portuguese Socialist Party) is bucking to turn the first world into the second world.
Yes it was, actually. Alger Hiss patterned the UN charter after the 1936 Soviet Union constitution for just that purpose, but who was reporting that back in 1947?
All fossil fuel producing countries should cancel their membership of that useless, arrogant organization or at least discontinue their contributions.
The West’s greatest enemy. Useless WWII leftover leech organization.
Sure, Tony, the planet is burning. Which is why Germany is stockpiling firewood and coal so they don’t turn into Krautcicles by January. Shmuck.
Gas prices in the United States have been on the rise since Russia invaded Ukraine, but a Facebook post says these high prices come as major oil companies experience record profits. The Facebook post shared on March 7 and was an image of a tweet made by Dan Price, the CEO of a Seattle-based credit card processing company that made headlines in 2015 when it raised minimum salaries for employees to $70,000. But let’s look at the facts I was able to get from investigative organizations like the American Automobile Association and the federal Energy Information Administration.
Apple in 2021 produced a 26.6% profit margin. Drug giant Pfizer did too, with a 27% profit margin. Citigroup, same, with a 29.3% profit margin. Yet nobody’s demanding that Apple, Pfizer or Citi pay a windfall profits tax, even though they’re among the most profitable U.S. companies year after year. Big Oil is the punching bag for familiar and obvious reasons: Gas prices well above $4 per gallon are pounding drivers, and everybody wants a villain.
As for the big oil and gas companies politicians love to hate the most, Exxon posted an 8.3% profit margin in 2021, with the forecast for 2022 at 10%. Chevron’s margin was 10% in 2021, with a forecast for 11.8% this year. ConocoPhillips was most profitable, with a 17.3% margin in 2021 and an estimated 22.6% margin in 2022. (Smaller company, less expenses)
But in looking at the previous year, 2020, the gas companies got hammered by profit losses. Exxon Mobil lost $22.4 billion because of the pandemic-fueled economic downturn. Chevron also experienced a loss of $5.5 billion in 2020. In fact, in 2020 the four integrated oil supermajors (i.e., “Big Oil”) – ExxonMobil, BP, Shell, and Chevron, lost a combined $76 billion. That destroys funds earmarked for employment, exploration, maintenance, and investments.
If a company continues to operate at less than budgetary requirements and not bounce back with profits to try to cancel losses, it will fold. And that would make the liberal administration grow a big one if that happened as the administration would be able to step in and totally control the petroleum industry to match up to preceded ecology driven statements. And you’ll get your $60K minimum unworkable electric powered car that will cut back your efficiency due to mileage capacities and create more rolling blackouts so you can burn up in summer and freeze to death in winter while the politicians take care of themselves and their donors.
Wy69
The UN is NOT the worlds rulers. They can go jump in a huge lake. Of fire.
“The Russian invasion exacerbated what Biden started.”
You’re right. But my point was that the Petroleum companies are being used by the administration to hide what you are referring to and Biden and his pets called the media has given some a free pass while others that can be identified like the petroleum companies are taking it on the chin. It just goes from one finger point to another to keep the libs heads above water.
Biden did add to it. But his mongolian CF was in addition. And the whole time he’s been protecting China for money for the whole family and friends. It’s right out in the open. But the cowardly reps won’t call anyone on it and let the groups like the petroleum people take it on the chin. It’s China that should get the finger...pointed at them. But don’t expect the self righteous libs or their media to do it.
wy69
“Nothing about this administration is pro America.”
You are completely right. But I’d like to tack on to that one very important “happenstance” that sticks out that no one is talking about. If you’ll notice the two countries you mentioned, people aren’t determining that the Biden, Pelosi, Kerry families are hip deep in business dealings with those two countries. The largest of them are in the Ukraine, Burisma, and in China, Bohai.
With Burisma, H Biden was getting paid after his father left the VP slot and the company cut H’s pay in half, to $83,333 a month to sit on its board, invoices on his abandoned laptop show.
With Bohai (Harvest Fund Management), Biden has a 10% partnership of a company that boasts business partnerships with Sinopec Marketing Co. The Chinese registered asset managers are BOC International Holdings-backed Bohai Industrial Investment Fund Management and Deutsche Bank-backed Harvest Fund Management. The U.S. partners as a pair and the two Chinese partners each own a 30% stake in the joint management firm. And thanks to his being CEO of Skaneateles, he continues to make huge dollars from Bohai. And all this is tied into “the big guy.” His partners in crime there are Chris Heinz (Kerry), and Devon Archer, who spent more than a year in prison for attempting to defraud an American Indian tribe of $60M in fake bonds.
wy69
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.