Oil superprofits: the controversy on taxation relaunched – Eco Info | EUROtoday

To be discovered within the present

Oil costs are hovering and with them, the earnings of vitality teams. TotalEnergies revealed outcomes near $6 billion within the first quarter, up 50% year-on-year. One of the very best ranges in its latest historical past. This efficiency is available in a context of robust geopolitical tensions, notably across the Strait of Hormuz by means of which practically a fifth of the world’s oil passes.

A revived political debate

These outcomes instantly revived criticism. On the left, a number of teams denounce “super war profits” and demand elevated taxation, or perhaps a cap on gas costs. The authorities calls on teams to “redistribute”.

TotalEnergies highlights its industrial measures – equivalent to capping the value of gasoline at 1.99 euros – to defend its motion. But the controversy goes past France. Several European international locations are pushing for a coordinated tax throughout the European Union. A observe already examined in 2022… with revenues which have been nicely beneath expectations.