Suddenly the air is thick with calls for windfall taxes on energy companies, particularly as oil giants BP and Shell are reporting massive profits.
Posts on ‘August 3rd, 2008’
Shell and BP have both approached Origin Energy about its coal seam gas assets, a move that could scupper BG Group’s A$13.8bn (£6. 5bn) hostile bid for the Australian energy firm.
It is the plight of people such as McDonald that has prompted the government to consider imposing a windfall tax on energy companies, which are continuing to reap massive profits while the cost of their products soar. Despite warnings from business groups, including the Confederation of British Industry, that such taxes could add to instability in the economy and reduce the budgets available for investment in renewables, Gordon Brown may have no choice. Beleaguered by a series of election defeats and the subject of plotting by disaffected members of his own cabinet, there appears little doubt the prime minister will yield to public outrage.
Odum, 49, succeeded the retiring John Hofmeister as president of Shell Oil, the U.S. holding company for Royal Dutch Shell, in June.
Today with over 40,000 gas (petrol) stations in around 100 countries Shell is by some distance the most visible retail brand in the world.