Thread: Who gets rich off $3 gas - who doesn't

EIA estimates it costs U.S. oil companies an average of about $24 a barrel to find, develop and produce oil worldwide, but that doesn't include costs like transportation, administration, or income taxes - which can be substantial. While Exxon made $40 billion in 2007, a 60% increase from 2004, it paid $100 billion in taxes and royalties


Dissecting a gallon of gas - who get's what - Mar. 13, 2008

March 19, 2008: 10:25 AM EDT

now this was three years ago

Originally Posted by wingrider

EIA estimates it costs U.S. oil companies an average of about $24 a barrel to find, develop and produce oil worldwide, but that doesn't include costs like transportation, administration, or income taxes - which can be substantial. While Exxon made $40 billion in 2007, a 60% increase from 2004, it paid $100 billion in taxes and royalties


Dissecting a gallon of gas - who get's what - Mar. 13, 2008

March 19, 2008: 10:25 AM EDT

now this was three years ago

Except it paid NO federal taxes in 2010. Exxon's Income Tax: $0 [UPDATED] | Mother Jones

from your artice Cicero:

It is incorrect to say that ExxonMobil did not pay any U.S. income tax in 2009. In fact, we expect a significant U.S. federal income tax liability for 2009, although our tax return will not be filed until later this year. Our tax installments overpaid our 2008 U.S. federal income taxes and we used that excess in part to pay our 2009 estimated taxes. The amount stated in our 10-K filing with the SEC, which Chris [Christopher Helman, who originally reported on this story for Forbes] told me he based his story on, includes expenses or credits recorded during 2009, and can represent items from previous years or expectations for subsequent years. It is not our actual tax bill.

Also those articles are missing the security fee that the US pays to transport and protect those shipments of oil from the ME.

and all of a sudden we get " crickets"" hmmmmmmmm