As the European Union introduces an extensive windfall tax, the region is putting pressure on other parts of the world to do the same. The U.K. may have already taxed oil and gas companies to subsidize rising consumer energy bills, but the E.U. is going one step further by planning a total overhaul of the energy market. Yet, other world powers, such as the U.S., have avoided taxing energy companies, instead turning to the oil and gas industry to increase production as it faces major shortages and price hikes. It remains to be seen if the Biden…
