The domestic fuel “profits” are only slightly higher than the federal taxes paid on their gross domestic income. In at least one recent year, the taxes were higher than their domestic income.
Most of the profits reported by the Big Oil Companies come from foreign business and non-fuel domestic business.
The oil industry has invested more than $100 Billion over the last 20 years.
3 comments:
A whole 10 cents/gal.
That's about 2%!
The oil companies are really evel--aren't they.
I am speechless!
RWD
On the other hand the Taxes are over 30 cents a gallon. That means the Govt is making three times as much of a gallon as Exxon is.
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