7.4 billion in three months

On Thursday morning, TotalEnergies published its accounts: 7.4 billion euros of net profit in the third quarter, against 3.3 billion a year earlier. The barrel sold for 87 euros on average, 62 last year, and European refining margins quadrupled. The same day, diesel sells for more than 2.35 euros a litre, France imports half of its supply, and the Strait of Hormuz has been almost shut since February.

A barrel at 87 euros

The government asks Total to be “exemplary”, to hold its 2.25-euro cap and to pass on the strategic stocks sold at cost from 1 November, 12 to 18 cents less. No tax: on Wednesday, deputies rejected eight proposals from the left, 115 votes to 65, including the 66% levy passed in committee three weeks earlier; on Thursday, Attac and Extinction Rebellion protested outside the Assembly. Six European countries, including Germany and Spain, are calling for a joint tax. France says it is not blocking. Yet it is not signing.

“Exemplary”, but untaxed

In Frankfurt, the ECB left its rate at 2.50%, then Christine Lagarde announced she was leaving on 7 February, nine months early. A full tank is 70 litres at 2.35 euros, 165 euros. How many tanks in seven billion?