Explanations

Why are the oil giants making such big (supernormal) profits?

13th February 2023

Share this content:

This BBC article looks at the profits being made by the big oil companies and attempts to explain them.

It also goes on the look at the current regime of taxation as well as considering whether or not there's a case for introducing a further windfall tax on their profits, offering a simple primer to the case for and the case against, as well as noting the implications of recent events for achieving climate change targets. It's not particularly complex - and needs to be read with a critical eye.

Share this content:

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

Explore

More for students

Teaching Economics

Why are the oil giants making such big (supernormal) profits?

Graham Watson

You might also like

In the News Teaching Activity – Good news on UK growth, but will it last? (May 2026)

In the News Teaching Activity – How might reducing immigration affect growth in the UK? (May 2026)

In the News Teaching Activity – Why are NCP car parks going out of business? (Mar 2026)

In the News Teaching Activity – Should Netflix be allowed to acquire Warner Bros? (Dec 2025)

What is Monopoly Power? A-Level and IB Economics

In the News Teaching Activity – why are jobs in hospitality falling? (Sept 2025)

In the News Teaching Activity – how rising global oil prices could affect the economy? (June 2025)

Competition Policy: Baby Formula Milk Prices Remain High

Explore

More for students

Subjects

Quick links

Student events & courses

Teaching Economics

Why are the oil giants making such big (supernormal) profits?

Graham Watson

You might also like