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Exxon Earns 2 Cents Per Gallon: Government Earns up to 66 Cents

And that is BEFORE Exxon paid 10 billion in taxes.
From the Press Release:

"Here’s a simple fact of economics that’s getting everyone in Washington pretty excited this week: When prices increase for a commodity like oil, companies that produce and sell that commodity earn more money.

So, as we get ready to release our quarterly earnings on Thursday, here are a few things to consider when you see the inevitable headlines and sound bites about high gasoline prices and what to do about them. These facts probably won’t make anyone feel better about paying more for gasoline – and of course price increases can have a very real impact on family budgets – but I do think it’s important that we at least have an honest discussion about what’s behind recent energy price increases.

Less than 3 percent of ExxonMobil’s earnings are from U.S. gasoline sales
ExxonMobil’s earnings ar

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Added: Apr-28-2011 Occurred On: Apr-28-2011
By: menderman
In:
World News
Tags: Oil, Gas, Taxes, Menderman
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