UN chief calls for taxing ‘outrageous’ fossil fuel superprofits

UN boss Antonio Guterres is calling on world governments to tax big oil and gas companies that have made superprofits from the war in Ukraine.

UN Secretary General Antonio Guterres on Wednesday denounced the ” greed “big oil and gas companies making profits” scandalous ” on ” the back of the poor thanks to the crisis caused by the war in Ukraine, calling on governments to tax them.

The truth is that we are seeing these excessive, outrageous profits from the oil and gas industries at a time when we are all losing money “Launched Antonio Guterres during a press conference on the occasion of the publication of the third UN report on the global consequences of the invasion of Ukraine by Russia.

“A massive cost for the climate”

It is immoral that oil and gas companies are making record profits from this energy crisis, on the backs of the poorest people and communities, at a massive cost to the climate “.

So ” I call on all governments to tax these excessive profits, and use these funds to support the most vulnerable in these difficult times “, he added, betting that such a decision would undoubtedly be “ popular “. The French Minister of Economy, Bruno Le Maire, or Prime Minister Elisabeth Borne are categorically opposed to such a tax.

During his speech, Antonio Guterres realized nearly $ 100 billion in profits made in the first quarter of 2022 by the hydrocarbon majors. With the rise in oil and gas prices, BP, ExxonMobile, Chevron, Shell and TotalEnergies also announced huge profits in the second quarter.

This ridiculous greed punishes the poorest and most vulnerable, while destroying our only common home, the planet “Insisted Antonio Guterres.

A “wave of revolts” to come?

the previous assessment since June, “ the impacts of the purchasing power crisis are being felt more deeply and widely across the world “, underlines the report.

He recalls in particular that by the end of 2022, 345 million people could find themselves in a situation of food insecurity in 82 countries, or 47 million more because of this war.

Many developing countries are drowning in debt, without access to finance, struggling to recover from the Covid-19 pandemic, and could tip over “, warned Antonio Guterres, noting “ harbingers of a wave of economic, social and political revolts that could spare no country “.

Accelerate the development of renewable energies

In this context, the report, which focuses more specifically on the ” major energy crisis “, calls on governments to identify the most vulnerable populations and allow them access to energy “ affordable “.

To deal with this crisis without calling into question commitments to limit global warming, it calls on governments in particular to take measures to reduce energy demand (heating and air conditioning, reducing air transport, renovating buildings, etc. ) and to accelerate the development of renewable energies.

Leave a Comment