Exxon-Mobil pays ZERO USA income taxes. So do many other big and small oil companies. $0.00. It's due to a "depletion allowance" installed wayyyyyyy back when oil was $2 to $4 a barrel. Now it's circa $100 a barrel and they STILL get the depletion allowance. Anyone who thinks that's fair should visit the grave of John D Rockefeller and take him some flowers. Be sure to tell him you enjoy paying more taxes so his descendents can pay less to none. And, NO, ending or drastically lowering the depletion allowance would have NO effect on gasoline prices. Crude oil prices are based on world markets. Gasoline prices are based on crude oil prices. And, yes, they pay LOTS of taxes. The property taxes on a 1,000 barrel per day oil well plus the associated pipelines are a lot of money. But so are the property taxes on EVERY business's equipment.
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JUNIOR:
It's about time you started to read the facts and quit listening to the "spin". I provided a link for you from a financial publication...rather than a propaganda sheet from the DNC...Here's what it says:
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"(Members of Congress) can stand with big oil companies, or they can stand with the American people," the president said.
A majority of senators supported Obama's proposal, but the Republicans' threat of a filibuster meant the measure fell nine votes shy of the supermajority of 60 needed to become law. It's unlikely the senators spent much time poring over financial statements and annual reports, but if they had, they would have seen that each of the three largest oil companies paid more in income taxes last year than any other corporation in America.
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I don't know if you drive or not, but try to restrain the
hatred and envy the Marxists have pumped into you...
Try LOGIC rather than HATE... If taxes are raised on oil..they will need to be passed on to the buyer.. How much would you like prices to go up ? Look in your supermarket..things which cost $2.50 when Obama took office , are closer to $4.00 now. The food has to be grown, processed and transported, all of which takes fuel & power. Same goes for manufactured goods and services.
How much will you be happy to pay for gasoline...$5, $6...$8 ? Obama's energy secretary says he would like you to pay $10, would you be pleased if he achieves his goals ?