According to CGT forecasts, TotalEnergies could announce up to 20 billion euros in profits over the first six months. At this level, we no longer speak of profitability but of super-profitability. Especially since in 2021, the French oil company had already recorded a record net profit of 14 billion euros. The shareholders’ pockets are overflowing with money. But this spillover is far from being the trickle down that benefits everyone, as the Liberals try to make us believe.
For the basic employees of the company, nada! Salary increases are minimal and Total is adamant about its “cost discipline”, based on job cuts in France. Return money to consumers? You don’t even have to think about it. Energy checks or rebates on fuels are more like a handout than a sketch of redistribution.
The TotalEnergies case is symptomatic of the policies implemented in recent decades. Multinationals have benefited from mountains of public money either directly through various and varied public aid, or indirectly, like Total, not through bond purchases by the ECB. Without any control of the use of this money, of course. These are the same companies which, in the name of competitiveness, refuse to raise wages, arguing for tax-free overtime, bonuses not taken into account for retirement or a minimum profit-sharing as a measure in favor of the “power of ‘purchase “.
It is this ideology, presented as struck at the corner of good economic sense, which has been demolished. The Rassemblement national has perfectly fulfilled its role of political diversion so that the rejection of authoritarian liberalism does not translate into a stronger push in favor of a truly leftist left.
It is now that the masks will fall. Macron’s search for majorities, including with the RN, will quickly result in the most right-wing solutions. And it is not on this side that will arise the proposal to tax the dividends that Total wants to pay, that of prohibiting layoffs on the stock exchange and otherwise sharing the added value.