Image source, ReutersThe UN Secretary General wants oil and gas companies to be taxed.
His comments come at a time when industry profits are at a new high.
It was morally wrong for firms to be making money from the crisis.
Russia's invasion of Ukraine has worsened a global shortage of oil and gas, disrupting access to oil and gas from Russia, and driving prices higher.
Companies are taking advantage of higher energy costs.
Four of the biggest energy firms made more money in the most recent quarter than they did a year ago.
The only common home is being destroyed by the greed of the poor and vulnerable.
All governments should tax excessive profits and use the money to support the most vulnerable people.
The UK approved a 25% windfall tax on energy firms last month in order to help offset household energy bills which have gone up.
Similar measures have been put in place by other countries.
Despite a windfall tax proposal from some members of Congress, there isn't much political traction in the US.
Frank Macchiarola said that calls for a windfall tax were misguided.
Increasing energy supply and decreasing costs should be the focus of policymakers. Imposing new taxes on our industry will only discourage investment at a time when it is needed most.
The UN Secretary-General warned that high energy prices would have consequences for households and governments.
He said that many developing countries could go over the edge if they don't find a solution to their debt problems. A wave of economic, social and political upheaval would leave no country untouched.
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