Tell Congress: Pass the Big Oil Windfall Profits Tax
In 2021 alone, Exxon Mobil, Shell, BP, and Chevron made a combined $75 billion in profits and they’re currently raking in billions more. New analysis reveals that high oil prices due to Russia’s invasion of Ukraine will net the U.S. upstream oil and gas industry a windfall of $37 to $126 billion (USD) in 2022 alone.
The Big Oil Windfall Profit Tax would implement a tax on all barrels of oil sold above the average Brent crude price between 2015-2019, roughly $66 a barrel. It’s estimated this could raise around $35-40 billion a year. Checks would be distributed via the same mechanism as the American Recovery Plan. A windfall profits tax on Big Oil would mean that fifty percent of those undeserved profits would be taxed at a higher rate, discouraging artificial price inflations.
Join us and urge your elected members in Congress to co-sponsor and support the Big Oil Windfall Profits Tax.
This is my letter to . Salud Carbajal and Diane Feinstein,
There is a moral imperative here. You know what it is. You know the difference between fair and unfair. Right and wrong. Big oil doesn’t know and doesn’t care. Where do you stand? A no vote on the windfall tax is a morally corrupt vote against the principles that define a society’s value and worth. Who are you really?
This is a link to the form. Write your letter. Let them know what you feel and think. It’s easy and it gives you a voice. Use it. Tell Congress: Pass the Big Oil Windfall Profits Tax https://act.priceofoil.org/sign/big-oil-windfall-profits-tax?akid=s121311..QO16-c&fbclid=IwAR3cwfz8SE_NmHU4VTWIsz7KIKmXhJAusdQQbVwbhojo5G4uu_0HCXKoh9k
I will post how Congress voted on this so you can see first hand who cares about doing the right thing for all the right reasons. And those that could care less.