Oil Superprofits: More than 2 Billion Euros Thanks to a New "Sleeping" Tax
4 Articles
4 Articles
Faced with the huge profits generated by the French oil company since the beginning of the crisis in the Middle East, the left-wing parliamentarians tried, in vain, to increase their tax contribution during the budget debates. The government defended the major's action on prices at the pump.
Accused by the left of taking advantage of the crisis without paying its share of taxes in France, TotalEnergies replied on X. The group, which had generated $8.3 billion in profits in one quarter, opposed its critics the cap on pump prices and its tax contribution.
Three major European oil companies announced a sharp increase in profits this Thursday, October 29, in the third quarter, reports the Financial Times. A manna that will essentially spill over to shareholders in the form of dividends and buybacks of shares. Greenpeace calls for the introduction without delay of a European tax on superprofits.
The Veblen Institute pleads for the rapid introduction of taxation of oil superprofits, in a note published on 29 October, on the day of the presentation by TotalEnergys of a new quarterly record profit.
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