{"id":237085,"date":"2022-12-31T16:13:25","date_gmt":"2022-12-31T15:13:25","guid":{"rendered":"https:\/\/climatescience.press\/?p=237085"},"modified":"2022-12-31T16:13:26","modified_gmt":"2022-12-31T15:13:26","slug":"exxon-threatens-to-divert-investment-away-from-the-eu-over-the-energy-windfall-tax","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=237085","title":{"rendered":"Exxon Threatens to Divert Investment Away from the EU over the Energy Windfall Tax"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"474\" data-attachment-id=\"237090\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=237090\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?fit=3354%2C2202&amp;ssl=1\" data-orig-size=\"3354,2202\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image-986\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?fit=723%2C474&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?resize=723%2C474&#038;ssl=1\" alt=\"\" class=\"wp-image-237090\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?resize=1024%2C672&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?resize=300%2C197&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?resize=768%2C504&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?resize=1536%2C1008&amp;ssl=1 1536w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?resize=2048%2C1345&amp;ssl=1 2048w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?resize=1200%2C788&amp;ssl=1 1200w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?w=1446&amp;ssl=1 1446w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?w=2169&amp;ssl=1 2169w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From <a href=\"https:\/\/wattsupwiththat.com\/2022\/12\/31\/exxon-threatens-to-redirect-investment-over-eu-energy-windfall-tax\/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=exxon-threatens-to-redirect-investment-over-eu-energy-windfall-tax\">Watts Up With That?<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Essay by Eric Worrall<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Life in the EU \u2013 If it moves, tax it, if it stops moving, subsidise it.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>ExxonMobil launches legal challenge to EU\u2019s windfall tax on energy firms<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">US oil firm contests legal authority for \u2018solidarity contribution\u2019 to raise funds to offset soaring energy prices<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.theguardian.com\/profile\/richard-partington\">Richard Partington<\/a><br><a href=\"https:\/\/www.twitter.com\/RJPartington\">@RJPartington<\/a>&nbsp;Thu 29 Dec 2022 04.57 AEDT<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.theguardian.com\/business\/exxonmobil\">ExxonMobil<\/a>&nbsp;has launched a legal challenge against the EU in an attempt to derail the bloc\u2019s windfall tax on the profits of energy producers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Agreed in September as part of a&nbsp;<a href=\"https:\/\/www.theguardian.com\/world\/2022\/sep\/30\/uk-isolated-as-eu-agrees-windfall-tax-on-energy-firms\">package of measures<\/a>&nbsp;to tackle the surge in oil, gas and electricity prices triggered by Russia\u2019s war in Ukraine, the EU hopes the \u201csolidarity contribution\u201d&nbsp;<a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/QANDA_22_5490\">could raise \u20ac25bn<\/a>&nbsp;(\u00a322bn) in public revenue for governments across the 27-nation bloc, while acting to curtail energy demand and bring down prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis tax will undermine investor confidence, discourage investment, and increase reliance on imported energy and fuel products. European industries already face a very real competitiveness crisis and governments should be supporting the production of reliable and affordable energy.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWhether we invest here primarily depends on how attractive and globally competitive Europe will be,\u201d said Casey Norton, a spokesperson for the company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026Read more:\u00a0<a href=\"https:\/\/www.theguardian.com\/business\/2022\/dec\/28\/exxonmobil-launches-legal-challenge-to-eus-windfall-tax-on-energy-firms\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.theguardian.com\/business\/2022\/dec\/28\/exxonmobil-launches-legal-challenge-to-eus-windfall-tax-on-energy-firms<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"237087\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=237087\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-985.png?fit=620%2C372&amp;ssl=1\" data-orig-size=\"620,372\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image-985\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-985.png?fit=620%2C372&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-985.png?resize=723%2C434&#038;ssl=1\" alt=\"\" class=\"wp-image-237087\" width=\"723\" height=\"434\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-985.png?w=620&amp;ssl=1 620w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-985.png?resize=300%2C180&amp;ssl=1 300w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">ExxonMobil\u2019s Dutch and German subsidiaries launched the legal challenge to the \u2018solidarity contribution\u2019 or windfall tax.\u00a0Photograph: Karen Bleier\/AFP\/Getty Images<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Exxon\u2019s suggestion they will reconsider investment priorities is no idle threat.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Leftist Western leaders simply don\u2019t understand how precarious their position is, in terms of attracting energy investment. After decades of stagnation, Africa is finally getting back on its feet, with enormous&nbsp;<a href=\"https:\/\/eacop.com\/?playlist=377b5879&amp;video=a2d85bc\" target=\"_blank\" rel=\"noreferrer noopener\">pipeline<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.privacyshield.gov\/article?id=Congo-Democratic-Republic-Oil-and-Gas\" target=\"_blank\" rel=\"noreferrer noopener\">energy<\/a>&nbsp;projects drawing the attention of transnational energy majors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If the EU and other states go forward with these taxes, they might find themselves on the receiving end of even more severe energy shortfalls in coming years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ExxonMobil launches legal challenge to EU\u2019s windfall tax on energy firms<\/p>\n","protected":false},"author":121246920,"featured_media":237090,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":{"0":"post-237085","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","9":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-986.png?fit=3354%2C2202&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-ZFX","jetpack-related-posts":[{"id":201414,"url":"https:\/\/climatescience.press\/?p=201414","url_meta":{"origin":237085,"position":0},"title":"Energy firms warn against extending windfall tax to renewables","author":"uwe.roland.gross","date":"25\/05\/2022","format":false,"excerpt":"[image credit: beforeitsnews.com] Renewables making excessive profits linked to booming energy prices? Say it isn\u2019t true!\u2013 \u2013 \u2013Energy firms are warning that an attempt to extend a windfall tax to renewable energy would threaten the government\u2019s entire energy strategy,\u00a0says BBC News. Industry sources told the BBC it could destroy investor\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0Screenshot-2022-05-25-163001.png?fit=1055%2C727&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0Screenshot-2022-05-25-163001.png?fit=1055%2C727&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0Screenshot-2022-05-25-163001.png?fit=1055%2C727&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0Screenshot-2022-05-25-163001.png?fit=1055%2C727&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0Screenshot-2022-05-25-163001.png?fit=1055%2C727&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":209401,"url":"https:\/\/climatescience.press\/?p=209401","url_meta":{"origin":237085,"position":1},"title":"The windfall tax epitomises the Tories\u2019 energy muddle","author":"uwe.roland.gross","date":"20\/07\/2022","format":false,"excerpt":"With\u00a0eleven percent inflation\u00a0on the horizon, the cost of filling a family car\u00a0exceeding \u00a3100, and Ofgem\u2019s price cap set to rise again in October\u00a0to \u00a32,800, former Chancellor Rishi Sunak insisted the Treasury was \u2018using all the tools at [its] disposal to bring inflation down\u2019. 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I set out a transcript below. Unfortunately the interviewee, Rod Wood, the MD of Community Wind Power, seemed to be on a mobile telephone and I struggled to catch every word clearly.","rel":"","context":"In \"Community Wind Power\"","block_context":{"text":"Community Wind Power","link":"https:\/\/climatescience.press\/?tag=community-wind-power"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/00Offshore-Windpark-pixabay.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/00Offshore-Windpark-pixabay.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/00Offshore-Windpark-pixabay.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/00Offshore-Windpark-pixabay.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/00Offshore-Windpark-pixabay.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":232153,"url":"https:\/\/climatescience.press\/?p=232153","url_meta":{"origin":237085,"position":5},"title":"Oil exploration firms warn of \u2018complete collapse\u2019 of operations in the North Sea","author":"uwe.roland.gross","date":"02\/12\/2022","format":false,"excerpt":"BRINDEX, which represents the firms, has written to Chancellor Jeremy Hunt to warn that their members face ruin","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-32.png?fit=1200%2C630&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-32.png?fit=1200%2C630&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-32.png?fit=1200%2C630&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-32.png?fit=1200%2C630&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/12\/image-32.png?fit=1200%2C630&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/237085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=237085"}],"version-history":[{"count":5,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/237085\/revisions"}],"predecessor-version":[{"id":237092,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/237085\/revisions\/237092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/237090"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=237085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=237085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=237085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}