Exxon Mobil says the levy on excessive profits would not help lower bills for consumers US energy giant Exxon Mobil on Wednesday filed a lawsuit against the European Union, aiming to block the recently announced windfall tax on oil companies.

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The plan to replace coal-fired plants by 2030 is “unrealistic,” lobby chief Siegfried Russwurm has warned Berlin’s plan to phase out coal-fired power plants ahead of schedule is likely to fail, the head of the German industry lobby BDI, Siegfried Russwurm, told reporters on Saturday. He said the federal government lacks a strategy to persuade…