Scottish Greens call for expanded windfall tax as oil giants profit from global conflict
The Scottish Greens have renewed calls for a strengthened windfall tax on fossil fuel giants after major oil companies, such as BP, posted monumental first quarter earnings, largely as a result of the US war on Iran causing a spike in oil prices.
New figures published this month show companies including BP, Shell and TotalEnergies continuing to rake in billions while households across Scotland struggle with high energy bills and the cost of living crisis.
The Greens say that the UK Government must stop allowing multinational energy corporations to profit from war and environmental destruction while ordinary people are left in financial crisis because of unaffordable energy bills.
Scottish Greens co-leader Ross Greer said:
“Families across Scotland are struggling to heat their homes and pay their bills, but oil giants are taking advantage of America’s war on Iran to make eye-watering profits.
“When Donald Trump wages yet another illegal war that causes widespread chaos, suffering and death, we’re feeling the impact here at home through skyrocketing energy bills.
“These corporations are making billions from a broken system that rewards pollution, crisis and war. It is outrageous that companies can cash in during global turmoil while so many people are being pushed into poverty.
“It doesn’t have to be this way. The UK Government must introduce a far stronger windfall tax on excessive fossil fuel profits, one without the gaping loopholes of the current system. That money could then be used to support people struggling with their bills and to speed up the transition to cheap and clean renewable energy.
“People need lower bills, a stable climate and long-term energy security, not more half-measures riddled with loopholes. We cannot continue allowing our economy to be dictated by companies whose business model depends on wrecking the planet and profiting from war.”
Ross added:
“The future Scotland needs is one built on cheap renewable energy, warmer and better insulated homes and affordable buses and trains. Delivering all of that will depend on the super-rich and big businesses finally paying their fair share.
“That is why the Scottish Greens are calling for a stronger windfall tax on these obscene profits. Our energy sector needs to work for the people of Scotland, not to boost the share price of multi-billion pound corporations that profit from war and instability.”