March 30, 2023

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The UN Secretary-General has called on governments to tax the profits of oil and gas companies

« It is immoral for oil and gas companies to profit so much from this energy crisis, on the backs of poor people and communities, at massive cost to the climate. United Nations Secretary-General Antonio Guterres made the announcement during a press conference on the occasion of the release of the third UN report on the global consequences of the Russian-Ukrainian conflict.

Rising oil and gas prices led energy companies like Total Energies, Shell, Exxon, Chevron and BP to post huge gains in the second quarter.

Economic and political problems

According to Antonio Guterres, many countries around the world have already seen signs of waves of economic, social and political unrest from which no country will be immune.

The Secretary-General warned that 345 million people in 82 countries could be “severely food insecure” or “vulnerable to food insecurity” due to the impact of the Ukrainian crisis. .

“Many developing countries are deep in debt, without access to finance, struggling to recover from the Covid-19 pandemic and may be tipped over the edge,” Guterres warned, calling on governments to take action by taxing excess profits. Money to support “the most vulnerable in these difficult times”.

The UN urges governments to reduce energy demand (reduce heating and air conditioning, reduce air traffic, renovate buildings…) to tackle this crisis without questioning commitments to curb global warming. Accelerating the development of renewable energies.

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