UN Secretary-General Calls for Windfall Profit Tax on Oil Industry

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Windfall Profit,Crude Oil,Oil Industry

The secretary-general of the United Nations has renewed his calls for a special tax on the oil industry to help fund the global energy transition.

The secretary-general of the United Nations Antonio Guterres has renewed his calls for a special tax on oil companies to help fund the energy transition. Calling oil companies “the godfathers of climate chaos”, Guterres said this week in a speech for World Environment Day, as the EU’s Copernicus weather service claimed May had been the 12th hottest month in a row.

They are poisoning our planet & they are toxic for your brand.” Antonio Guterres has been one of the most fervent advocates of the energy transition, referring to the current course of human civilization as a “highway to hell” unless we shift away from hydrocarbons. The call for a windfall profit tax on oil and gas companies is not the first one Guterres issued.

 

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