Oil executives and Washington lobbyists fear Democrats could push a windfall tax on surging crude prices as part of a broader deal with President Donald Trump. Democrats have already proposed legislation taxing oil companies when Brent crude exceeds its 2025 average of about $68 a barrel, with proceeds funding consumer rebates. Rapidan Energy Group puts the odds of such a measure at 30%.
Oil industry braces for possible windfall tax after Democratic wins
Source: Moneycontrol