$1.1 Trillion Big Oil Subsidies Spark Fresh Calls for Windfall Tax on Profits From Trump's Iran War
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Big oil companies are reportedly receiving significant subsidies and generating substantial profits, with estimates suggesting they may be earning tens of millions of dollars per hour or tens of billions of dollars per month. These profits are said to be linked to a conflict involving Iran, although the exact nature and scope of the connection is unclear. The situation has prompted calls for a windfall tax on the companies' profits.