New Poll Finds Overwhelming Support for Big Oil Windfall Profits Tax
Washington, D.C. – New polling shows overwhelming support from voters across the political spectrum for the idea of a windfall profits tax on Big Oil.
According to the research, 87% of voters want politicians to crack down on price gouging by oil companies and 80% support the specific idea of a windfall profits tax on Big Oil, including 73% of Republicans.
On Thursday, Fossil Free Media launched a new Stop The Oil Profiteering campaign which aims to build political support for ending oil industry profiteering and the windfall profits tax.
“Despite the fossil fuel industry’s disinformation campaigns, voters know who is to blame for high gas prices: Big Oil,” said Jamie Henn, Fossil Free Media director. “For politicians on both sides of the aisle, this polling is proof that their constituents overwhelmingly support the idea of a windfall profits tax that would stop Big Oil profiteering and send relief directly to consumers. If Members of Congress refuse to act, it’ll be concrete evidence that they’re in the pockets of the industry.”
The six-figure STOP campaign will feature a paid media effort, with ads going up on Facebook and in outlets like Politico this week, press events, and grassroots actions around the country. The campaign has already taken to the streets of Washington, D.C., projecting messages like “Stop Big Oil Profiteering” and “Big Oil Is Making A Killing Off of War” on a building near the Capitol.
The idea of the windfall tax has been gaining momentum on Capitol Hill. Last week, Senator Sheldon Whitehouse and Representative Ro Khanna introduced new legislation to curb profiteering by oil companies and provide Americans relief at the gas pump. The Big Oil Windfall Profits Tax Act would tax the excess profit from barrels sold over the average Brent crude price between 2015-2019, roughly $66 a barrel. It’s estimated this could raise around $35-40 billion a year that would be directly sent to consumers in the form of relief checks to ease the burden of high fossil fuel prices. On March 16, Rep. Peter DeFazio (D-OR04) introduced the Stop Gas Price Gouging Tax and Rebate Act which would also apply a windfall tax to Big Oil’s excessive profits and provide rebates to consumers.
In the coming days, STOP will be holding more grassroots events, organizing press conferences, releasing ads, and continuing to bring the fight directly to those responsible for high gas prices (and pollution)(and war)(and the climate crisis): Big Oil.
