There are growing signs of an oil and gas corporate exodus from European capital markets as firms have faced growing financial and policy pressure to pivot away from fossil fuel production. But as Europe’s fiscal and regulatory hostility for oil and gas grows, so too does the risk that the region’s already-fragile energy security will
Read More...Last Wednesday, UK Chancellor of the Exchequer Jeremy Hunt announced that the windfall tax on UK oil and gas firms will remain in place for another five years, until March 2029. The levy, which has already driven away investment and reduced production in the North Sea, was previously set to end in 2028. As EID
Read More...Election season is approaching, prices at the pump are rising, and just like clockwork, Rep. Ro Khanna (D-CA) is pushing for his proposed windfall profit tax, again. Yesterday, Rep. Khanna tweeted: Big Oil is making empty climate pledges. Congress must step up and pass my windfall tax on fossil fuel companies to rein in their
Read More...Six months after Gov. Gavin Newsom announced that California needed to address high gas prices and , details of the Governor’s plan are finally coming to light. Simply put, Newsom’s proposed “price gouging” crackdown would create new bureaucracy and punt the actual “price gouging penalty” to the brand-new agency for consideration. Meanwhile, the true reasons
Read More...Even though gas prices in America have fallen significantly from this summer’s record highs, fringe U.S. politicians continue to make the false claim that oil and natural gas companies are price gouging consumers. Some are calling for a windfall profit tax on oil companies, even though history shows that the implementation of a windfall tax
Read More...With just eight days before a high-stakes midterm election, President Biden has a proposal to address inflation and high energy prices – higher taxes. On Monday, following record earnings from oil majors, the President gave a press conference criticizing oil companies’ profits and encouraging Congress to levy additional taxes on American energy companies, ignoring his
Read More...Nothing is scarier on Halloween than a White House that doesn’t understand basic energy economics. Unfortunately, that’s the pattern we continue to see from President Biden who, right before passing out sugary sweets to children at the annual White House Halloween event, will use the podium to attack the U.S. oil and natural gas industry
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