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#windfall

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So #Elonmusk attacks Wikipedia on the 24th of December, like on Christmas eve.
Now the man has 12 children, or perhaps more by now. You would think that our new born conservative would spent some quality time with at least a few of them and do the conservative family man thing with the tree and the prayer and all, but no, he's having a go at a website billions of people love and like and visit on a regular basis. And ironically on a day when people feel most generous. #wikipedia #windfall

France is exploring ways to cap electricity prices without falling foul of EU subsidy rules, including a possible windfall levy to deliver President Macron’s pledge to “take back control” of prices.

Under consideration is for the state to redistribute some of power producer EDF’s revenues. This would echo emergency measures authorised by Brussels during the energy crisis to collect “excess profits” when prices soared.

ft.com/content/37f01a3f-39d7-4

Well, well, well. who'd have thought; at a time of record #profits, when #energy firms say they need those profits to #invest & they shouldn't be subject to a #windfall tax, what do we actually see?

After a recent peak in 2014, investment by the industry has been bubbling along around half of that peak.

Sure, they're going to say there are special circumstances; for one or two years, perhaps but for eight years - No: looks like surplus extraction to me!

Just popped on the site: Energy giant #ExxonMobil sues EU to #block energy #windfall tax 😶
bbc.co.uk/news/business-641133
ExxonMobil reported a quarterly #profit of almost $20 billion in October. A 33% tax on this year's profits was announced - those profits were more than 20% higher than the average for the three previous years. In an investor meeting earlier this month, ExxonMobil's chief financial officer estimated that the EU tax would cost the group "over $2 billion".

BBC NewsEnergy giant ExxonMobil sues EU to block energy windfall taxThe US company says the levy on its profits will discourage future investment in Europe.