Democrats File New Tax On Alleged ‘Windfall Profits’ By Big Oil

Democrats File New Tax On Alleged ‘Windfall Profits’ By Big Oil

WASHINGTON, DC - APRIL 28: Sen. Sheldon Whitehouse, D-R. I., attends the Senate Judiciary Committee ... [+] confirmation hearing in Dirksen Senate Office Building in Washington, D. C., on Wednesday, April 28, 2021. Ketanji Brown Jackson, nominee to be U. S. Circuit Judge for the District of Columbia Circuit, and Candace Jackson-Akiwumi, nominee to be U. S. Circuit Judge for the Seventh Circuit, testified on the first panel. (Photo By Tom Williams-Pool/Getty Images) Following one of the most volatile weeks since 2020, the price for crude oil on the global market finished down for the week as markets closed on Friday. The international Brent index finished the week at $112. 70, off by $5. 41 from its close on March 4. The intervening week saw Brent rise as high as $131 per barrel on March 8, as President Joe Biden announced the U. S. ban on Russian oil imports, and as low as $107. 80 on March 10 as measures to mitigate the impacts of that sanction came to light. The rise of gasoline prices at the pump was also showing signs of slowing in response to the calming oil markets. AAA reports that the U. S. average price for