The extraordinary profits of oil giants, received as a result of the war against Iran, launched by Donald Trump, should be taxed with a 50% Trump tax. The proposal is from the European Green Party. It is supported by the leaders of its Bulgarian member party “Green Movement” Daniela Bozhinova and Toma Belev, who a few days ago signed a special Declaration for such a measure together with other leaders of green parties in Europe.
The conflict in the Persian Gulf led to a global crisis in the supply and production of fossil energy resources, to the depletion of countries' fuel reserves, to a shortage and, accordingly, a significant increase in oil and gas prices. The overall effect was trumpflation - an overall increase in the cost of living.
The hardship for millions of people turned out to be a golden shower for oil companies. “Shell” reported a 24% increase in profits, and France's “Total” - 51% or $5.8 billion. for the first quarter of 2026. Chevron, Shell, BP, ConocoPhillips, ExxonMobil and TotalEnergies have received an additional $37 million per day since the start of the conflict.
A future tax on the excess profits of the oil giants could be used to compensate households and businesses. From the “Green Movement” believe that part of the tax revenues could finance new incentive measures for households to transition to green energy: installation of photovoltaic systems, solar collectors or heat pumps.
“Because the crises with fossil energy resources, caused by recent wars, clearly show our vulnerability and dependence on these resources”, argue the “Green Movement”, “The conclusion is that we must continue with efforts to reduce the share of fossil fuels in energy, for energy transformation.”