Explanations
Why are the oil giants making such big (supernormal) profits?
13th February 2023
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.
- Economics
- Blog
- Explanations
- Profit
- Supernormal profit
- Profit Margin
- Monopoly Profit
- Energy Price Crisis
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.
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