EU Calls On Fossil Fuel Industry To Help Raise $140 Billion ...Middle East

The European Commission will propose a revenue cap for companies producing electricity at a low cost and a "crisis contribution" from the extra profits of fossil fuel companies in a plan to raise $140 billion (140 billion euros) to cushion the energy crisis blow to European citizens and economy, European Commission President Ursula von der Leyen said on Wednesday. "Our proposal will raise more than 140 billion euros for Member States to cushion the blow directly. And because we are in a fossil fuel crisis, the fossil fuel industry has a special…

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