Thursday, August 16, 2012

Oil Companies and Taxes

Every quarter we read about the record profits made by oil companies, but rarely do you hear about the taxes they pay. The chart below is a summary of taxes paid and profits by ExxonMobil.

Source: The Hayride


Old NFO said...

But... but... "THEY" said EM paid NO taxes... That can't be right... Thanks for putting the TRUTH out there!

Peripatetic Engineer said...

You are welcome. I'm not sure if this chart included royalties paid as a tax. It's a good thing to remember that the second biggest source of revenue to the government is royalties paid on oil and gas extracted from federal lands.