Will taxing 'immoral' fossil fuel profits ease the energy crisis? | Counting the Cost

A new study has found that the oil and gas industry produced almost $3bn a day in profits for the last 50 years.

It is now cashing in even more money, as the war in Ukraine has driven up energy prices.

The United Nations secretary-general criticised the sky-high earnings as "grotesque greed", at a time when millions of people around the world feel the pinch of the rising cost of living. Antonio Guterres urged governments to tax the profits of energy giants.

Elsewhere, the race is on for semiconductors; the United States is spending billions to boost manufacturing, while keeping an eye on China.


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[marissadower-morgan]

I have not seen the Oil Companies investing in Green Energy

[GibbonsTake]

Energy companies didn't go bankrupt in EU because of taxes, but because Russia war limiting export and sanctions against them ...

[_NirmalKumar_]

Nastasya Tay looking so gorgeous as always! 😍🔥

[tka-tpa-prapatankalisari]

🎓🎓🎓
“The freedoms which democracy brings will remain empty shells if they are not
accompanied by real and tangible improvements in the material lives of millions of ordinary citizens of those countries.”

~ NelsonMandela ✍️

🎓
😊

[AljabbarWestJava]

*How do some people always remain positive* ??🤔

_Being positive doesn't mean that everything is perfect in someone’s life, but that person has learnt to look beyond imperfections_ .

Life is not always the way we want . You might face difficulties in your career, relationship, or personally. The hurdles we face can turn into disappointment but what we need to do is prevent these disappointments from turning into the negativity.

_Look at what's working in your life, you will find many reasons. The presence of your loved one, being able to fulfill the basic necessities of life, and your own health and well being, are some of the many reasons to feel positive_ .

*Dr Bhawna Gautam* ✍️

[EdwardLawrence-]

“ _Knowledge isn’t free. You have to pay attention_ .” 🤔

[terrymoore]

We need a windfall tax on the huge increase in government taxes on petrol, diesel, gas and electricity!

[socialanarchy]

Capitalist Greed is based on being an immoral person.

[cndungu]

If corrupt African governments were not an issue, we would have joined this industry and helped balanced production dependency.

[tsvandyke]

18:50 ... DUH! ... US Pollution Standards shut down mines that produce rare earth metals needed to make semiconductors.
US is now dependant upon other countries that do not have pollution standards - in order to get materials needed for production.
US mad at others countries that ( became competitors) by jumped on the opportunity to expand from just digging metals to production !?

[tka-tpa-prapatankalisari]

🇺🇳 *UNITED NATIONS* 😊 🎓

I thank 🇰🇷 _President Yoon Suk-yeol_ for his kind invitation and the rich discussions on non-proliferation, the denuclearization of the 🇰🇷 Korean Peninsula & CLIMATE ACTION.

_The Republic of 🇰🇷 Korea's strong commitments are a solid contribution to peace among nations & peace with nature_ .


─ H.E. *ANTÓNIO GUTERRES* 🇺🇳
_Secretary-General of the United Nations_ 🇺🇳

🎓
😊

[Travel-Rizma]

😊 Al Jazeera English 🤗🤔.

🇨🇳 *CHINA* - *ASEAN Expo*
_🇵🇭 PHILIPPINE _*_GDP_*_ GROWS 7.4 pct ON YEAR IN Q2_

_The 🇵🇭 _*_Philippine economy_*_ expanded by 7.4% y-o-y in the Q2 of 2022 as the country eased the COVID-19 mobility restrictions allowing more social and economic activities to thrive, the _*_Philippine Statistics Authority_*_ said on Tues_ .

_In a press conference, _*_PSA_*_ head DENNIS MAPS said the main contributors to the _*_GDP_*_ growth in this period were wholesale and retail TRADE, CONSTRUCTION, and TRANSPORTATION and STORAGE_ .

─ _🇨🇳 CHINA - ASEAN EXPO_

[socialanarchy]

Oil and gas should be taxed at 90%.
They would still be multi-millionaires.

[jacobfinder]

The planet is burning, the environment is dying. I want to see how the stupid humans live on greed..

[tka-tpa-prapatankalisari]

🎓🎓🎓
🇮🇷 *IRAN* 😊

_The controversial author spent years in hiding after a 1989 decree by 🇮🇷 Iran's late leader _*_Ayatollah Ruhollah Khomeini_*_ led to threats against his life_ .

─ _AL JAZEERA_ 🇧🇭
🤣☝️🤣

[angamaitesangahyando]

Juche Korea is leading the world in developing renewable energy sources (esp. solar) due to the inhumane American blockade. Praise **Kim Il Sung!**
- Adûnâi

[darkmoon]

Putin fans :- Russian winning 🤡

Reality:- ukraine winning ❤🔥zelensky ❤🔥