Joe Biden is right: America needs a windfall profits tax on Big Oil | Robert Weissman

The case for a windfall profits tax is straightforward. There's a reason why the idea is so popular

Consumers are paying as big oil has gobbled up more than $125bn in profits in 2022 - triple the total from last year - doing nothing other than watching world oil prices soar due to Russia's invasion of Ukraine.

The solution to this heist is simple enough: a windfall profits tax that extracts big oil's unjust enrichment and returns the money to the people.

Robert Weissman is the president of Public Citizen