Uploaded March 2026 | Updated September 2026, 3 weeks ago
Whenever prices surge during a crisis, we are told there are shortages, but that is only half the story. This video explores the current oil prices crisis, attributing rising costs to conflicts and claims of shortages, while highlighting the significant profits oil companies and energy traders are making amidst this middle east tension.
This situation exemplifies profit-led inflation and exploitation, contributing to widespread suffering and raising concerns about economic crisis and geopolitical risk.
00:00 — Energy price crisis and rising oil prices
00:20 — Why war is only part of the story
00:40 — How market structures turn crises into profit
00:55 — Why governments must act with windfall tax
TRANSCRIPT
A transcript for this video is available at: taxresearch.org.uk
IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO
If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp
HOW TO SUPPORT US
Please consider donating: ko-fi.com/taxresearch
ABOUT RICHARD MURPHY
Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’.
This video was edited by Thomas Murphy.
RICHARD MURPHY ON BLUESKY:
https://bsky.app/profile/richardjmurphy.bsky.social
OR
ON MY BLOG: taxresearch.org.uk/Blog
HIT SUBSCRIBE & GET NOTIFICATIONS
Subscribe and get notified of new videos released.
INTRODUCTION: youtube.com/watch?v=HdHsRPy3060
PLAYLISTS:
The Wealth Series
youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD
Ecenomics
youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4
Britain
youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10
Tax
youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY
MMT
youtube.com/playlist?list=PLvRueM6wBgoZ6jvRGSW5YXu8qogE6aClX
Money
youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m
Climate Change
youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ
USA
youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H
Labour
youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw
The Trump Administration
youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx
#OilCrisis #EnergyCrisis #ProfitLedInflation #WindfallTax #EnergyPrices #CostOfLiving #OilProfits #GasPrices #EnergyCompanies #MarketReform #EconomicJustice #InflationCrisis #CorporateProfits #EnergyMarkets #GlobalEconomy #MiddleEastConflict #OilIndustry #PublicPolicy #TaxTheProfits #EnergyDebate #CostOfEnergy #EconomicPolicy #PriceSurge #EnergyTraders #ElectricityPrices #FinancialCrisis #ConsumerProtection #EnergyPolitics #CrisisEconomics #FairEconomy
Whenever prices surge during a crisis, we are told there are shortages, but that is only half the story. This video explores the current oil prices crisis, attributing rising costs to conflicts and claims of shortages, while highlighting the significant profits oil companies and energy traders are making amidst this middle east tension.
This situation exemplifies profit-led inflation and exploitation, contributing to widespread suffering and raising concerns about economic crisis and geopolitical risk.
00:00 — Energy price crisis and rising oil prices
00:20 — Why war is only part of the story
00:40 — How market structures turn crises into profit
00:55 — Why governments must act with windfall tax
TRANSCRIPT
A transcript for this video is available at: taxresearch.org.uk
IF YOU WANT TO WRITE TO YOUR MP ABOUT ISSUES IN THIS VIDEO
If you want to write a letter to your MP on the issues raised in this blog post, there is a ChatGPT prompt to assist you in doing so, with full instructions, here. taxresearch.org.uk/Blog/2025/06/20/chatgpt-prompt-for-a-letter-to-your-mp
HOW TO SUPPORT US
Please consider donating: ko-fi.com/taxresearch
ABOUT RICHARD MURPHY
Richard Murphy is Emeritus Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best-known book is ‘The Joy of Tax’.
This video was edited by Thomas Murphy.
RICHARD MURPHY ON BLUESKY:
https://bsky.app/profile/richardjmurphy.bsky.social
OR
ON MY BLOG: taxresearch.org.uk/Blog
HIT SUBSCRIBE & GET NOTIFICATIONS
Subscribe and get notified of new videos released.
INTRODUCTION: youtube.com/watch?v=HdHsRPy3060
PLAYLISTS:
The Wealth Series
youtube.com/playlist?list=PLvRueM6wBgobQLeyZYAagFDMjEFTKbhRD
Ecenomics
youtube.com/playlist?list=PLvRueM6wBgob54Gs-fOL-8OAQ-IpduwB4
Britain
youtube.com/playlist?list=PLvRueM6wBgobwTT4ATvJjsf8OO6S7wD10
Tax
youtube.com/playlist?list=PLvRueM6wBgoaMni_12J6ULp3yUJisUZoY
MMT
youtube.com/playlist?list=PLvRueM6wBgoZ6jvRGSW5YXu8qogE6aClX
Money
youtube.com/playlist?list=PLvRueM6wBgoYnLk1c7syTvoIo8bKYUs5m
Climate Change
youtube.com/playlist?list=PLvRueM6wBgob4_wsYaVivWd2WumpPLYwJ
USA
youtube.com/playlist?list=PLvRueM6wBgoYYd3dSyU2Oyl3x7bWJOP7H
Labour
youtube.com/playlist?list=PLvRueM6wBgoa-KhzG-fnjDSg1WROL1zMw
The Trump Administration
youtube.com/playlist?list=PLvRueM6wBgobz41-GLimTho27A3flVWQx
#OilCrisis #EnergyCrisis #ProfitLedInflation #WindfallTax #EnergyPrices #CostOfLiving #OilProfits #GasPrices #EnergyCompanies #MarketReform #EconomicJustice #InflationCrisis #CorporateProfits #EnergyMarkets #GlobalEconomy #MiddleEastConflict #OilIndustry #PublicPolicy #TaxTheProfits #EnergyDebate #CostOfEnergy #EconomicPolicy #PriceSurge #EnergyTraders #ElectricityPrices #FinancialCrisis #ConsumerProtection #EnergyPolitics #CrisisEconomics #FairEconomy
