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Antonio Guterres calls for tax on excess profits from energy companies

2022-08-03T19:05:56.652Z


Antonio Guterres has called corporate profits in the energy crisis "immoral." Developing countries are on the brink. Now the states have to do something – the UN chief has a proposal.


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UN Secretary-General Antonio Guterres warns of turbulence

Photo: ANGELA WEISS / AFP

UN Secretary-General Antonio Guterres has accused oil and gas companies of "grotesque greed" and called for a tax on their so-called excess profits.

Governments around the world must ensure that excessive profits made in the wake of the energy crisis caused by the war in Ukraine are taxed, Guterres told the press on Wednesday.

"It is immoral that oil and gas companies are making record profits from this energy crisis at the expense of the poorest people and societies - at a massive cost to the climate." Governments would have to use the taxes collected to support the most vulnerable.

more on the subject

Skyrocketing Gas, Oil and Electricity Prices: Taxing the War ProfiteersA column by Michael Sauga

Guterres said Russia's war in Ukraine and climate change are fueling a global food, energy and financial crisis.

Many developing countries that are drowning in debt, lacking access to finance and struggling to recover from the coronavirus pandemic are on the brink, he said.

"We are already seeing the warning signs of a wave of economic, social and political turmoil that will leave no country untouched." only shared home destroyed«.

In numerous countries, politicians and consumer advocates have criticized the oil companies for capitalizing on a global supply shortage.

US President Joe Biden said in June that ExxonMobil and others made "more money than God" at a time when consumer fuel prices were rising to record levels.

The two largest US oil companies ExxonMobil Corp and Chevron Corp, the British Shell and the French TotalEnergies together earned almost 51 billion US dollars in the last quarter - almost twice as much as in the same period last year.

mgo/dpa

Source: spiegel

All business articles on 2022-08-03

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