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The energy giant declares war on the European Union
Published:
2022-12-30
The "gunpowder" between the global energy giants and the European Union is getting stronger and stronger. Local time on December 29th, BBC, French television 24 and other media reported that the US energy giant ExxonMobil is suing the European Union to cancel a new "windfall tax" imposed on oil groups.
The "gunpowder" between the global energy giants and the European Union is getting stronger and stronger.
Local time on December 29th, BBC, French television 24 and other media reported that the US energy giant ExxonMobil is suing the European Union to cancel a new "windfall tax" imposed on oil groups.
The company said the EU imposed a "windfall tax" beyond its legal authority.
In September, European energy ministers agreed to deal with the energy crisis, including capping electricity prices on power companies and imposing excess profits taxes on fossil fuel producers.
Among them, the excess profits tax will take effect on December 31, and the threshold will be 20% higher than the average annual profit since 2018.
The EU hopes to levy a tax of 140 billion euros on the "excess profits" of energy companies to help companies and households pay for gas and electricity, the report said.
In response, ExxonMobil, one of Europe's largest oil suppliers, argued that the EU imposed a "windfall tax" beyond its legal authority and filed a lawsuit in the EU General Court in Luxembourg on Wednesday, December 28, local time.
ExxonMobil's lawsuit argues that it is wrong for the European Commission and the Council to use emergency powers to pass the tax law by a majority rather than a unanimous vote.
In addition to ExxonMobil, Italian energy company ERG and Spanish oil company Cepsa have filed similar lawsuits with local courts.
At the same time, ExxonMobil warned that the imposition of a "windfall tax" would be "counterproductive" and would eventually undermine investor confidence, increase the EU's dependence on imported energy and further exacerbate the EU's energy crisis.
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