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beltorak t1_j210h38 wrote

Reply to comment by agent154 in Exxon sues EU in move to block new windfall tax on oil companies by davetowers646

Probably something to do with international treaties, which the corporations have a major hand in writing. There's usually some clauses that boil down to "if the government changes the laws and that causes us to lose out on profits, then the government must pay us what we expected to profit". I believe it's called corporate sovereignty.

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Cryptic108 t1_j21nbm0 wrote

This only goes so far though. If your business is profiting off making a substance so toxic its use is banned by the government, you can’t sue for loss of profits.

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Admirable-Solid-8186 t1_j22ogoz wrote

I could be wrong but i dont think oil and gas has been banned by the government

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Cryptic108 t1_j24hbyp wrote

Mandating minimum percentages of EV, offering tax benefits for buying EV, setting energy efficiency standards in buildings, climate change initiatives, all cuts down on oil/gas/coal usage and revenue; in essence all those policies effect on oil/gas profits. Governments have the right to tax businesses operating in their country however they see fit. And considering that oil/gas is a limited natural resource, governments should control its production and usage, not cartels that make as much profit as they see fit and threaten everyone dependent on those resources when governments try to rein in cartel’s activities.

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