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Apr 29, 2022

Oil producers’ megaprofits stir up calls for windfall tax

Plus: The inflation gauge favored by the Federal Reserve and how Brits are pushing back against lawsuits aimed at oligarchs’ critics.

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Gas prices above six dollars a gallon are displayed at a Mobil gas station on the corner of La Cienega Blvd and Centinela Ave on April 28, 2022 in Los Angeles, California. - California launched a sweeping investigation on April 28 into plastic pollution by major oil companies, in a probe it says will look at whether fossil fuel giants have been lying about the problem for decades. As part of the wide-ranging probe, the state's attorney general hit ExxonMobil with a subpoena with the aim of uncovering its role in an alleged cover-up.
Gas prices above six dollars a gallon are displayed at a Mobil gas station on the corner of La Cienega Blvd and Centinela Ave on April 28, 2022 in Los Angeles, California. - California launched a sweeping investigation on April 28 into plastic pollution by major oil companies, in a probe it says will look at whether fossil fuel giants have been lying about the problem for decades. As part of the wide-ranging probe, the state's attorney general hit ExxonMobil with a subpoena with the aim of uncovering its role in an alleged cover-up.
Patrick T. Fallon/AFP via Getty Images

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Oil producers’ megaprofits stir up calls for windfall tax