Calls for bigger windfall tax after Shell makes ‘obscene’ $40bn profit

[Still Waters]

The government is under pressure to rethink its windfall tax on energy companies after Shell reported one of the largest profits in UK corporate history, with the surge in energy prices sparked by Russia’s invasion of Ukraine pushing the oil company’s annual takings to $40bn (£32bn).

Opposition parties and trade unions described Shell’s bonanza, the biggest in its 115 year history, as “outrageous” and accused Rishi Sunak of letting fossil fuel companies “off the hook”.

The shadow climate change secretary, Ed Miliband, said: “As the British people face an energy price hike of 40% in April, the government is letting the fossil fuel companies making bumper profits off the hook with their refusal to implement a proper windfall tax.”

https://www.theguardian.com/business/2023/feb/02/shell-profits-2022-surging-oil-prices-gas-ukraine

[acidhead]

WTH is a "shadow climate change secretary"? 

[Setton]

1 hour ago, acidhead said:

WTH is a "shadow climate change secretary"? 

Climate change secretary is the minister in government responsible for addressing climate change.

'Shadow' in front of any ministerial title means they are the oppositions representative for that position.

So the Shadow Chancellor is the individual responsible for economic policies in the opposition. Usually they would become Chancellor if their party then gets elected.