Bruno Le Maire calls on Total to put its hand in the portfolio
In order to contain fuel prices at the pump as much as possible, Bruno Le Maire wants TotalEnergies to put its hand in the portfolio.
The message is firm, even insistent, casually…. Suggesting in barely veiled words, that if the energy group did not comply with the “wishes” of the government…. its super profits could pay the price of “taxations”….
“I hope that Total, which has made a commitment to cap the prices of all fuels at 1.99 euros until the end of the year, extends this cap beyond December 31 to 1.99 euros” , announced the Minister of the Economy and Finance, on franceinfo, Thursday September 7.
At the same time reiterating his remarks on the subject of a possible rebate from the State. “A rebate from the State would be “a triple aberration”. “It is an ecological, budgetary and diplomatic aberration,” he insisted.
A very “diplomatic” speech from Bruno Le Maire….
“It is up to Patrick Pouyanné to make the decision, but I welcome the choice that has been made by Total for several months (…) I trust him to take into consideration the difficulties of our compatriots” said elsewhere declared Bruno Le Maire.
Adding: “the only major French oil company left to us is Total.” Believing that for the group, this position “must be an asset not just for the French nation, in general, but for all motorists”.
Do not play the game of Putin and Saudi Arabia
A “discount” of “12 billion euros” At the same time, the minister remained firm in his positions. Once again ruling out the possibility of applying a rebate on fuel prices.
For him, this would constitute “a triple aberration”, both “ecological”, “budgetary” and “diplomatic”. “That means that you are paying for the oil diplomacy of Mr. Putin and Saudi Arabia, which aims to reduce volumes to increase prices,” he believes.
“We are not intended to pay for the political and geopolitical choices of Saudi Arabia or Russia,” he insisted.
Bruno Le Maire settles his “accounts” with Xavier Bertrand
Bruno Le Maire also wanted to respond to Xavier Bertrand, president of Les Républicains de la Hauts-de-France region. Which accuses him of telling “bullshit” about the cost of the new rebate that he wants to see applied by the government.
“If we make a discount of 20 cents on fuel prices for a year, I confirm, it costs 12 billion euros,” indicated Bruno Le Maire.
As a reminder, in the fall of 2022, the government implemented a general rebate of 30 cents then 10 cents. Measure which ended on December 31.
TotalEnergies is still thinking….
It must be negotiated hard between Bercy and TotalEnergies…. “We thank Minister Bruno Le Maire for supporting our initiative of capping at €1.99”, in force until the end of the year, the group told franceinfo.
Understandably: we have understood the message….. even your barely veiled “threat”, and your communication strategy: caress TotalEnergies in the right direction, avoiding directing it…. while still letting him understand that a possible refusal could cost him dearly… in taxation of super profits.
However, at present, the group does not wish to take a clear position on the subject. By recalling for all intents and purposes his boss’s response, Friday September 1 on Public Senate. “We are going to look at the subject for 2024,” Patrick Pouyanné then declared, when asked about the possibility of an extension of this “capping”. While adding to consider this measure as “effective” and “understandable” presenting “many virtues”.
“If we see that the French understand it, why not perpetuate it? But everything in its time,” he declared at the time.
Fuel prices are soaring
While oil prices have been soaring for several weeks – driven by various factors, we will come back to this – the prices of gasoline and diesel are in turn soaring at stations. Sometimes even exceeding the symbolic bar of two euros in places.
Sources: France Info