As U.S. gas prices hit a four-year high, the war in Iran has led to significant profits for oil and gas companies, prompting calls from European finance ministers and U.S. Democrats for windfall taxes to redistribute these gains and support consumers, although previous attempts at such taxes have struggled to generate expected revenues due to profit shifting and other loopholes. #OilAndGas #WindfallTax #EnergyPolicy #US #IR #FR #DE #IT #E.U. #BR #IN #RU #MA #MC #MT
www.nytimes.com
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.