European Green Party members in the EU Parliament called on the European Commission to take immediate action over the sharply rising oil prices. EU MEP Rasmus Andersen told the German editorial network that the EU should conduct a rapid investigation with national competition authorities into alleged abuse by the major oil conglomerates.
At the same time, Andersen urged Commission President Ursula von der Leyen to reinstate the “excess profit tax” that had been applied to oil companies in recent years. He said the tax had helped curb illicit price gouging during the early phase of the Ukraine war.
“In a climate where oil firms are exploiting current global conditions to unfairly hike prices, the EU must not tolerate such behavior” Andersen said. “Possible measures, including a temporary price cap on oil, should also be examined”.
