The chairman of the US Treasury Committee Ron Weiden will propose an additional tax of 21% on the profits of oil companies, which are considered huge, a Bloomberg journalist wrote on Twitter on Tuesday.
President Joe Biden on Friday accused the US oil industry, and in particular Exxon Mobil, of taking advantage of the lack of supply to boost its profits, in the wake of the announcement of inflation, which climbed to a new 40-year record.
Speaking on inflation, President Biden said, “Why not drill? Why make more money when they do not produce more,” accusing oil companies of getting rich at the expense of drivers rather than investing in production.
Source: Capital
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