Oil Major Profits Spark Renewed Calls For A Windfall Tax

With oil majors all reporting impressive profits this week, critics are once again questioning how governments will respond to huge oil and gas earnings in the face of rising inflation and economic instability. The high consumer energy costs still being seen don’t match up with the profits achieved by energy firms, thanks to high oil and gas prices, with a growing number of observers asking governments for subsidies to be financed by a windfall tax on oil and gas firms.

While the U.K. has followed this path, other countries – such as…