Topic: Nations should impose special taxes on oil firms: UN Secretary General (Read 373 times)

The pictorial representation of households and Oil company was good.The oil company was giving importance as compared to the house holds.They also should impose the taxes on the oil firm.But it’s only decision of the UNSG and not by the concern country government.The income from the oil was keep increasing to counter target the war in Russia and Ukraine war of independence.The oil companies taxes was huge from the source and the money should be used for the war time circumstances.

What we do not understand completely is that we shouldn't let these companies dictate economy as much as they want just in the name of capitalism. If we keep going down the road of "well if they do not make a profit, they may stop, that would be even worse", well it won't, just let the government build one and they could offer for a lot cheaper. You know why governments don't do that? Because they are liberal and allow people to do what they want, hence why we have oil companies, but if oil companies are charging the highest ever oil rate in a long time, causing inflation, causing a ton of people to not have enough money, causing prices of even simplest food like wheat to go up, then either you tax them insanely high, or you put a price cap on their sell, because right now they are charging way too much. If we just allow them to jack up the prices as they wish, what stops them from making it 20 bucks? If they all agree together, they can do that, why stop them? Why stop there, how about 30? How about 50? How about 100? At some point people would stop buying gas right? So they are charging as much as they can while hurting people but not making them go another way. They know that government would intervene at some point, and the best thing would be doing that today, so they won't ruin the whole world for some more profit in the name of shareholders and capitalism.

Why are you wishing them to decline? LoL, I think that was a bad idea and it doesn't only affect the company itself but also the economy of one's country, so be careful what you wish for because it might turn into reality but there is also a chance for this to be real since there's also renewable energy that people can use such as solar, heat, wind, hydro and many more.

Electric cars are also being built up but they are kinda expensive at the moment so expect that there will still be a demand in oil or petroleum products. Oils aren't the only one that can pollute the environment anyway, but there are still many more and it will also depend on the people's actions so don't totally put the blame on them.

Oil companies really should be taxed so heavily that this industry gradually declines, and the consumption of oil and petroleum products decreases. Mankind, finally, needs to take care of its survival in a global sense and stop poisoning the environment and changing the climate. We need to switch to alternative sources of electricity and make them cheaper and more efficient. Only with such a position will we still have a chance for survival. But this requires a clear strategy of action.

Agreed 100%. Already the shale oil producers in the United States are saying that they won't increase their production, because the government has put so many obstacles on doing business. In the end, it is the ordinary people who suffer. As the oil production goes down, the prices increase by 2x or 3x. You can compare the crude oil prices in 2020 (when Trump was the president) to those in 2022 (when Biden is the POTUS). It is the ordinary people who end up spending their hard earned money on expensive fuel, while the government is happy with increased tax revenue.

There's totally is.
And they're reasoning out the war and etc. I don't know that OPEC has already decreased the supply before the war has started. I only heard it happen this year when the war is already happening like just a few months ago.
I just hope that those in power will have to stop this manipulation and they can reduce the prices and let the supply flow again worldwide. But I guess this is all planned and they want really to make a great reset and manipulate prices of everything as they know when they control petrol/oil, they control everything.

Unfortunately very few countries want to be the one to make the first move in these situations, as it might make their business environment look more risky in the long term and scare big businesses into other jurisdictions. It takes a lot of courage to be the countries that impose these taxes and it should be commended, however they were only windfall taxes which meant one off's, they need to pay higher taxes indefinitely. One thing to consider however is that a lot of big pension funds still have big chunks invested and make a lot of money for retirees / future retirees by owning the shares, even if we ignore the big pots that politicians probably have too.

Temporary state regulation - I consider a possible way to solve a critical situation. BUT !
Not at the level of the international market, and with compensation for direct losses, to those who agree with the rules set by the state, often not very reasonable ...
But here it is generally nonsense - will they force ALL companies in the world to impose this "fine"? On what basis? And where will the money go? And who calculates the cost? Or maybe it would be more logical then to impose a penalty on those who unleashed this conflict and started not only military terrorism, but also economic? Or is it "other"?

This headline reeks of communism.

You can't get mad at the oil companies just because they are making profits. For years they worked for a loss. Has this shithead wanted to help them when they were making no profits? No, he didn't care.

These are very dangerous talks threatening the existence of capitalism.

I respect any other person's opinion, if it does not contradict the norms of morality, logic. And I respect your opinion ... Although I don’t agree Time will judge, I’m sure the UN, after his antics in 2022, not easy times await, and perhaps not only reorganization, but also .. dissolution. As for me, today this organization has lost its status, value, the logic of existence, and the logic of the rules of work...

I think there are manipulation going on in the Oil sector the way I look at the issue. Even before the war in Ukraine, OPEC has threaten to short down supply of oil from member company and this war just escalated the tendencies for scarcity and this whole artificial thing of oil facilities being attacked and causing shortages making officials in charge to embezzle more of public wealth through oil.

I don't think that special taxes will help everyone from these increasing prices of oil. What UN must do is to pressure these companies together with the OPEC to do something to lessen the current price of oil that we're buying.
It's starting to be seen that there's no way they can do to mitigate the continuous price hike of oil products and with this, they're raking billions of dollars and they're boasting that. While a simple person like you and me, we suffer from their gains. Yeah, there's the war and etc, but I'm sure that there could be ways of at least decrease it a little by little.

Nothing has changed bro. UN is as it has always been an American organization, it is literary in their law. Obama not only made this public but also ensured it to be unchangeable. The law dictates that UN is obligated to fulfill United States' interests at all times in all their actions and decisions!
So if you see they behave in a certain way, it is because US has ordered them to. And if that behavior changes, it is just the new orders, nothing more...

Unfortunately, for the last few decades there has been a steady reduction in human IQ. Intelligent people are having less children and it is the drug addicts and alcoholics who are having them by the dozens. Obviously it is very clear that if the oil companies are taxed more, then the price of oil products such as diesel, gasoline and natural gas will also get costlier. But 90% of the ordinary people doesn't have the IQ to understand this. And that is the reason why politicians from the green and socialist parties get elected year after year.

Unfortunately, the UN is a highly corrupt structure. I used to treat her somehow, if not positively, then neutrally. Probably because it did not concern me much, and they took some actions. But this year, the UN, as an international instrument of law and legitimacy, has shown itself not only as impotent, but moreover, how cowardly I am and an inferior organization. This applies not only to the UN, but also to some other international organizations, such as the Red Cross.

BUT ! It seems that with one hand they feed and try to play along, and the other is really afraid. There is an assumption that after a "convincing conversation" with the representatives of the United States and Britain, the UN decided that it was necessary to behave, if not "better", then more or less correctly. Today's vote on reparations to Ukraine from the Russian Federation showed some change in the behavior of the organization itself. The fear of survival won over the craving for corruption

I'm not sure how true that is because these LNG supplies are heading for European LNG terminals and the problem there is that the unloading and conversion of LNG is going to take a lot of time which means there is a queue of tankers waiting to be unloaded simply because the terminal is busy!
In fact one of the reasons why gas price dropped was this. They got too desperate to sell their cargo faster that it created a fake "higher supply" slightly decreasing the price.

I'm glad to see others are catching on to this fact. Although it was clear from the day it was created back in 1945. Did you know that we were literary the first country to file the first complaint to UN? It was about the Allies after WWII and it was completely useless

I'll start from afar
1. The UN has completely discredited itself as an international organization. Starting from the failure to fulfill their direct obligations, ending with the deepest corruption, and even some barely concealed corruption ..
2. The oil market does not need to be regulated. Manual control rarely gives a positive result, especially when you do not control it at 100%. And that means one thing - you just need to remove inadequate players, or rather one. And the market itself is stabilizing. If there are no economic terrorist attacks, bribery, threats and pressure, the market will recover on its own and give consumers an adequate price.
But in any case, do not give this process to the corrupt UN!

Special taxes? They are giving them money to help them make oil cheaper, while these companies take that money and then use it for lobbying and jack up their prices instead. Look at all the oil companies in the world right now, aside from the Russian ones, we are seeing them doing a lot better than any other year, and the prices of oil is high. Which is a proof that they are actually capable of dropping the price of oil anytime they want, not the oil as an investment one, but the gas you put in your car could be lowered in price, considering how much profit they made, they could just make a little less and we would all be living a better life.

I am of the opinion that nation should impose special tax on oil firm because they are deliberately making oil and gas scarce. There is a report that oil firms are intentionally making gas or crude scarce because they want to make more profit. There was news by Aljazeera that dozens of tankers carrying about $2bn worth of natural gas are slowly sailing around northwest Europe and the Iberian Peninsula because they are holding out for higher market prices. They have been instructed by their parent companies to move slowly believing that colder weather will increase demand for energy and in turn drive up prices.

Is this not economic sabotage in the name of capitalism?

Oil prices are not determined by these companies, it is calculated based on what people are willing to pay for it. If people are willing to pay a lot to get it because we are lacking oil from a region, then the price would go up of course. This is what the free market is doing.

I am not saying we should regulate the price, I am saying we should charge them with a lot more taxes, when companies make 51 billion dollars in profit, that’s a lot, and if given the right other companies could do the same and these have nothing special about them. So, if 51 billion became 30 billion and that 20 billion went to building more houses or schools or hospitals, that would be fine by me.