The Strategist

UN Secretary General calls for taxes on excess profits of oil and gas companies

09/15/2022 - 10:12

Governments all across the world have been urged by UN Secretary General António Guterres to tax the excessive profits that oil and gas companies make from the high prices of fossil fuels.

At a press conference held at the UN's New York headquarters, he remarked, "I urge states to tax these exceptional earnings."

The fact that oil and gas companies are making "the largest profits in history while people in different areas of the world suffer so much as a result of high power and fuel prices" is "totally wrong," according to Guterres.

He also noted that the competing interests of the parties involved make it difficult to stabilize the energy markets.