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Common DreamsApr 3, 2026National News

Windfall Tax on Big Oil Demanded as Trump's Iran War Pads Profits of Fossil Fuel Giants

President Trump's military actions in Iran are cited by advocates as the catalyst for rising oil prices and subsequent fossil fuel profits.

Windfall Tax on Big Oil Demanded as Trump's Iran War Pads Profits of Fossil Fuel Giants
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tl;dr

Following a surge in oil prices due to conflict with Iran, advocacy groups and Democratic lawmakers are renewing calls for a windfall profits tax on fossil fuel companies to curb profiteering and fund renewable energy.

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