UN Secretary General Antonio Guterres on Wednesday denounced the “ridiculous greed” of large oil and gas companies that are taking advantage of the war between Ukraine and Russia to make profits deemed “immoral”. He called on governments to tax the hydrocarbon giants.
The head of the UN did not hesitate to hit the big oil companies, which have all earned colossal sums following the crisis in Ukraine.
“The truth is that we see these excessive, scandalous profits of the oil and gas industries at a time when we are all losing money”, launched Antonio Guterres during a press conference on the occasion of the publication of the third UN report on the global consequences of the war between Moscow and kyiv.
These “scandalous” profits of the oil companies are on “the backs of the poorest” recalled the Secretary General who called on the governments of the countries to tax them in the face of these profits deemed “immoral”.
“It is immoral that oil and gas companies are making record profits from this energy crisis, on the backs of the poorest people and communities, at a massive cost to the climate,” he added.
According to Antonio Guterres, oil and gas companies have earned less than $100 billion in profits in the first 3 months of 2022 alone. Companies like BP, ExxonMobile, Chevron, Shell and Total Energies have all announced huge profits in the second quarter.
“I call on all governments to tax these excessive profits, and use these funds to support the most vulnerable in these difficult times,” he added.
For the head of the UN, if the governments take the decision to tax the giants of oil and gas, it will receive the approval of the people and would be “popular”.
“This ridiculous greed punishes the poorest and most vulnerable, while destroying our only common home, the planet”, further tackled Antonio Guterres.