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GERRY ADAMS: Windfall tax a must as energy crisis deepens

THE cost of living crisis is taking a terrible toll on families. Food and energy bills are increasing at a phenomenal rate, pushing more and more people into debt and poverty. The ready excuse trotted out by governments and most of the media to explain this dire situation is Russia’s invasion of Ukraine and the ongoing war. While this is clearly having an impact, it cannot explain the monstrous profits being made by the oil and gas industry and by energy companies worldwide. The dramatic increase in fuel and energy costs have pushed up production costs, transport costs and the price paid by the consumer for food and petrol and heating. It is all interconnected. Strip away the propaganda and the underlying cause is easily explained. Capitalism places profit over and above all other considerations. Its goal is to extract oil and gas and sell them at a price that will maximise their profit. They are feeding the fires of the climate crisis and destroying the planet and pushing millions

ADAMS: A Windfall Tax is Urgently Needed

Oil and gas industry delivered $2 8bn a day in pure profit for last 50 years

The oil and gas industry has delivered $2.8 billion a day in pure profit for the last 50 years, a new analysis has revealed, The Guardian reported.The vast total captured by the petrostates and fossil fuel companies since 1970 is $52 trillion, .

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