I’m frustrated that Big Oil is making historic profits off of the war in Ukraine.
Gas prices have gone through the roof in the wake of the Russian invasion. And those profits are going directly into oil companies' pockets. By the end of the year, experts estimate that American oil companies will pull in windfall gains from the war in Ukraine to the tune of $126 BILLION. It’s disgusting. They don't deserve this money. No company deserves to profit from tragedy—especially oil companies at a time of economic and climate crisis.
We need a windfall profits tax on Big Oil.
Fortunately, Rep. Ro Khanna and Sen. Sheldon Whitehouse have introduced just such a bill, the Big Oil Windfall Profits Tax, (HR 7061 / S 3082). It would essentially tax oil companies for 50% of their windfall profits, and give the money back to consumers.
This is a no-brainer. I want you to co-sponsor it and support it vocally.
If passed, this legislation could be the first step to ending polluter welfare and holding oil companies accountable for their destructive, damaging behavior.
If not passed, we will remember it in November. American taxpayers are tired of paying Oil Executives’ multi-million-dollar bonuses. Make it stop. Thanks.
First sent on April 25, 2022 by Jess Craven
