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Record profits for oil companies: SP urges levy on gas and oil extraction

1 August 2008

Record profits for oil companies: SP urges levy on gas and oil extraction

The SP is urging the introduction of a new levy on extraction of oil and gas in the Netherlands and in Dutch waters, from which oil companies earn billions each year. At the same time the SP wants to see car-owners benefit directly via a lowering of road tax.

Natural gas extraction
Natural gas extraction in the Wadden Sea region off the Dutch coast

The SP is demanding that the government cream off some of the billions in profits which the oil corporations are making. “We can't allow Shell and its shareholders to raking in the proceeds of high fuel prices while the ordinary citizen's wallet is emptied," said SP leader Agnes Kant.

Shell yesterday announced that high fuel prices had indeed enabled the company to make record profits.

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