Introducing punitive & "exclusive" taxes etc. on fossil fuels companies will cause many to simply reduce their expenditures, &/or switch their investment to more "friendly" countries. Therefore, in the medium to long term, adding to supply problems for those countries adopting the discriminatory route- so fossil fuel prices will simply rise.
eg bbc.com O. Smith said ,3.12.22, re Total deciding to reduce its expenditure in the UK's North Sea fields."French oil giant TotalEnergies has said it will cut North Sea investment by 25% next year after the windfall tax on oil and gas firms in the UK was extended.
The company will cut £100m of spending on new wells in the region.
The windfall tax - the Energy Profits Levy - was raised from 25% to 35% in last month's Autumn Statement and will now stay in place until March 2028".
https://www.bbc.com/news/business-63834419
Introducing punitive & "exclusive" taxes etc. on fossil fuels...
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