Nations should impose special taxes on oil firms: UN Secretary General

[DrBeer]

Nothing has changed bro. UN is as it has always been an American organization, it is literary in their law. Obama not only made this public but also ensured it to be unchangeable. The law dictates that UN is obligated to fulfill United States' interests at all times in all their actions and decisions!
So if you see they behave in a certain way, it is because US has ordered them to. And if that behavior changes, it is just the new orders, nothing more...

I respect any other person's opinion, if it does not contradict the norms of morality, logic. And I respect your opinion ... Although I don’t agree Time will judge, I’m sure the UN, after his antics in 2022, not easy times await, and perhaps not only reorganization, but also .. dissolution. As for me, today this organization has lost its status, value, the logic of existence, and the logic of the rules of work...

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[mindrust]

This headline reeks of communism.

You can't get mad at the oil companies just because they are making profits. For years they worked for a loss. Has this shithead wanted to help them when they were making no profits? No, he didn't care.

These are very dangerous talks threatening the existence of capitalism.

[DrBeer]

This headline reeks of communism.

You can't get mad at the oil companies just because they are making profits. For years they worked for a loss. Has this shithead wanted to help them when they were making no profits? No, he didn't care.

These are very dangerous talks threatening the existence of capitalism.

Temporary state regulation - I consider a possible way to solve a critical situation. BUT !
Not at the level of the international market, and with compensation for direct losses, to those who agree with the rules set by the state, often not very reasonable ...
But here it is generally nonsense - will they force ALL companies in the world to impose this "fine"? On what basis? And where will the money go? And who calculates the cost? Or maybe it would be more logical then to impose a penalty on those who unleashed this conflict and started not only military terrorism, but also economic? Or is it "other"?

[Fortify]

source

Due to the Russian invasion of Ukraine oil price skyrocketed triggering inflation and high cost of goods and services. But this unfortunate condition is favoring the oil and gas companies. While households are grappling with higher energy bills, companies are reaping the benefits.This quarter four of the biggest energy firms - Exxon, Chevron, Shell and TotalEnergies - earned nearly $51bn almost doubling what they earned last year.

Recently, UN Secretary General Antonio Guterres has called on nations to impose special taxes on oil and gas companies because of this excessive profits and use the funds to support the poorest and most vulnerable people  through these difficult times.

The British and Italian government have imposed these special taxes but the US and French government is rejection this move stating that it might still lead to increase in domestic energy cost and might scare investors away from the industry.

Unfortunately very few countries want to be the one to make the first move in these situations, as it might make their business environment look more risky in the long term and scare big businesses into other jurisdictions. It takes a lot of courage to be the countries that impose these taxes and it should be commended, however they were only windfall taxes which meant one off's, they need to pay higher taxes indefinitely. One thing to consider however is that a lot of big pension funds still have big chunks invested and make a lot of money for retirees / future retirees by owning the shares, even if we ignore the big pots that politicians probably have too.

[batang_bitcoin]

While a simple person like you and me, we suffer from their gains. Yeah, there's the war and etc, but I'm sure that there could be ways of at least decrease it a little by little.

I think there are manipulation going on in the Oil sector the way I look at the issue. Even before the war in Ukraine, OPEC has threaten to short down supply of oil from member company and this war just escalated the tendencies for scarcity and this whole artificial thing of oil facilities being attacked and causing shortages making officials in charge to embezzle more of public wealth through oil.

There's totally is.
And they're reasoning out the war and etc. I don't know that OPEC has already decreased the supply before the war has started. I only heard it happen this year when the war is already happening like just a few months ago.
I just hope that those in power will have to stop this manipulation and they can reduce the prices and let the supply flow again worldwide. But I guess this is all planned and they want really to make a great reset and manipulate prices of everything as they know when they control petrol/oil, they control everything.

[Sithara007]

This headline reeks of communism.

You can't get mad at the oil companies just because they are making profits. For years they worked for a loss. Has this shithead wanted to help them when they were making no profits? No, he didn't care.

These are very dangerous talks threatening the existence of capitalism.

Agreed 100%. Already the shale oil producers in the United States are saying that they won't increase their production, because the government has put so many obstacles on doing business. In the end, it is the ordinary people who suffer. As the oil production goes down, the prices increase by 2x or 3x. You can compare the crude oil prices in 2020 (when Trump was the president) to those in 2022 (when Biden is the POTUS). It is the ordinary people who end up spending their hard earned money on expensive fuel, while the government is happy with increased tax revenue.

[Argoo]

Sudden change in the tax policy simply because few companies managed to earn more than their previous year is fair? And do you think increasing the tax for the four companies will be benefitable for the other people who is in need? If that much fund needed in reality then why not reduce the fund allocation for their defense an give a small percentage to the people who is in need!

Oil companies really should be taxed so heavily that this industry gradually declines, and the consumption of oil and petroleum products decreases. Mankind, finally, needs to take care of its survival in a global sense and stop poisoning the environment and changing the climate. We need to switch to alternative sources of electricity and make them cheaper and more efficient. Only with such a position will we still have a chance for survival. But this requires a clear strategy of action.

[lixer]

Sudden change in the tax policy simply because few companies managed to earn more than their previous year is fair? And do you think increasing the tax for the four companies will be benefitable for the other people who is in need? If that much fund needed in reality then why not reduce the fund allocation for their defense an give a small percentage to the people who is in need!

Oil companies really should be taxed so heavily that this industry gradually declines, and the consumption of oil and petroleum products decreases. Mankind, finally, needs to take care of its survival in a global sense and stop poisoning the environment and changing the climate. We need to switch to alternative sources of electricity and make them cheaper and more efficient. Only with such a position will we still have a chance for survival. But this requires a clear strategy of action.

Why are you wishing them to decline? LoL, I think that was a bad idea and it doesn't only affect the company itself but also the economy of one's country, so be careful what you wish for because it might turn into reality but there is also a chance for this to be real since there's also renewable energy that people can use such as solar, heat, wind, hydro and many more.

Electric cars are also being built up but they are kinda expensive at the moment so expect that there will still be a demand in oil or petroleum products. Oils aren't the only one that can pollute the environment anyway, but there are still many more and it will also depend on the people's actions so don't totally put the blame on them.

[Captain Corporate]

What we do not understand completely is that we shouldn't let these companies dictate economy as much as they want just in the name of capitalism. If we keep going down the road of "well if they do not make a profit, they may stop, that would be even worse", well it won't, just let the government build one and they could offer for a lot cheaper. You know why governments don't do that? Because they are liberal and allow people to do what they want, hence why we have oil companies, but if oil companies are charging the highest ever oil rate in a long time, causing inflation, causing a ton of people to not have enough money, causing prices of even simplest food like wheat to go up, then either you tax them insanely high, or you put a price cap on their sell, because right now they are charging way too much. If we just allow them to jack up the prices as they wish, what stops them from making it 20 bucks? If they all agree together, they can do that, why stop them? Why stop there, how about 30? How about 50? How about 100? At some point people would stop buying gas right? So they are charging as much as they can while hurting people but not making them go another way. They know that government would intervene at some point, and the best thing would be doing that today, so they won't ruin the whole world for some more profit in the name of shareholders and capitalism.

[roslinpl]

The pictorial representation of households and Oil company was good.The oil company was giving importance as compared to the house holds.They also should impose the taxes on the oil firm.But it’s only decision of the UNSG and not by the concern country government.The income from the oil was keep increasing to counter target the war in Russia and Ukraine war of independence.The oil companies taxes was huge from the source and the money should be used for the war time circumstances.