Friday, May 2, 2008

Business Week: Exxon: Profit Pirate or Tax Victim?

The oil giant paid $9.3 billion, or 49% of its first-quarter gross income, in income taxes. Is that enough? Depends on who you talk to

  • Taxes make up a big percentage of profits
  • That $9.3 billion in taxes does not include taxes paid by consumers at the pump
  • Michigan: The gasoline tax is reported as 54.4 cents per gallon
  • What is the rate in your state?
  • "...Russia and Libya charge companies up to 90% of the revenues they collect for extracting oil..."
  • Nice to see MJ Perry get some recognition
  • His website is HERE
What are your thoughts on Exxon, Fuel Prices, or CAFE Standards?

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