Gas and oil giants should pay a windfall tax to tackle the energy crisis

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Tuesday 08 February 2022 14:46 GMT
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<p>The pockets of the oil companies are deep, having profited from higher wholesale prices</p>

The pockets of the oil companies are deep, having profited from higher wholesale prices

Oil giant BP has reported its highest profit for eight years, days after Shell reported a 14-fold increase in quarterly profits. Gas and oil prices are leading to big increases in energy bills for households. The choice for many, pushed into fuel poverty, will now be between heating and eating.

The pockets of the oil companies are deep, having profited from higher wholesale prices. A one-off windfall tax in the UK on fossil fuel giants to help hard-pressed households cope with record energy bills is urgently required.

Alex Orr

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