Washington | President Joe Biden said he would seek to impose higher taxes on oil companies that record “windfall” profits without reinvesting in production, with US petrol prices still high a week ahead of midterm elections.
“It’s time for these companies to stop war profiteering, meet their responsibilities in this country, give the American people a break and still do very well,” Mr Biden said on Monday (Tuesday AEDT). He called the industry’s profits “a windfall of war”.
