TotalEnergies CEO Favors Fuel Price Caps Over New Taxes
CEO Patrick Pouyanne told shareholders that French consumers prefer direct benefits from capped fuel prices at the pump rather than government taxes on energy profits. He noted that the company remains the only firm voluntarily capping prices in France despite the associated costs.
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TotalEnergies SE CEO Patrick Pouyanne told shareholders on Friday that French citizens prefer fuel price caps over a superprofit tax. The firm faces political pressure in France to tax blockbuster profits linked to oil price spikes. The company voluntarily caps fuel prices domestically, though higher sales under the cap increase losses.
