All articles tagged with #windfall taxes
ExxonMobil and Chevron posted a combined $26.5 billion in second-quarter profits, triggering political backlash and renewed calls for windfall taxes as high gas prices persist and the Iran war influences oil prices ahead of midterm elections; analysts say profits may stay elevated, while the industry weighs reinvestment risks amid policy uncertainty.
With oil and gas prices rising amid the Iran–Israel war, several EU countries urge Brussels to deploy EU-wide emergency tools—such as price caps, subsidies, demand coordination and windfall taxes—while the European Commission emphasizes long-term plans to diversify supply and reduce demand. Italy, Austria, Slovenia and Slovakia are rallying for concrete, coordinated measures ahead of upcoming EU summits, a push that risks clashing with members who prefer market-led solutions and caution on emergency powers.