Renata wrote:
On Fri, 25 Apr 2008 07:00:46 -0700, Doug Winterburn
wrote:

Renata wrote:
On Thu, 24 Apr 2008 07:44:06 -0700, Doug Winterburn
wrote:

Renata wrote:
On Wed, 23 Apr 2008 17:30:36 -0700, Doug Winterburn
wrote:

Dave in Houston wrote:
"Fred the Red Shirt" wrote in message
...

Not all petroleum comes from OPEC nations, But enough
does that they control the price on the world market.
Which means that our patriotic American Oil companies are selling us
their domestically produced crude for the same price the Saudis are selling
us theirs?
Which, if true, I suppose is where Exxon-Mobil makes a good chunk of their
$49 billion profit?
Actually, $40 billion on $400 billion total revenue - or 10 cents on the
dollar. The also paid $30 billion in income tax.
I seriously doubt Exxon is paying $30B income tax on $40B net.

Renata


I didn't say net. They paid $30 billion on $72 billion gross. Their net
income was $40 billion.
But this seems to indicate that their accountants are so bad that they
paid 3/4 of their profit over to income taxes? Even 30B on 72B gross
is way high. Corporate taxes these are nowhere near 42% these days.

Something smells funny here. I see the numbers, I just want to know
the "rest of the story".
http://finance.yahoo.com/q/is?s=XOM&annual

Yeah, I looked up some numbers too. Can't imagine that, if this is
the whole story, they're not crying publicly about how nearly 1/2
their mega, record setting profits are being turned over to the
guvmint.

I don't know why it wouldn't be the whole story - if it's not, somebody
is going to the slammer. I also don't know why they would cry publicly
as corporate income taxes run almost the same rate for all big
corporations. By the time you add in federal and state gasoline taxes
(not to mention Exxon-Mobil employees income taxes), who do think is
making the more money from Exxon-Mobil's business - Exxon-Mobil or guvmint?