As U.S. gas prices hit a four-year high fueled by the war in Iran, European finance ministers and some U.S. Democrats are advocating for windfall taxes on oil and gas companies' war-related profits, yet previous efforts for similar taxes have struggled to generate expected revenues due to companies' profit-shifting practices to tax havens. #OilPrices #WindfallTax #EnergyIndustry #US #IR #FR #DE #IT #E #GB #IN #RU #MU #MO #MT
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Is It Time to Tax the Oil and Gas Industry's Windfall?
As U. S. gas prices soar to their highest levels in four years, it's becoming clear that the war in Iran has been very profitable for oil and gas companies.