Thread: USA Gasoline Prices ..... Did you ever notice ......

Originally Posted by thebigspendur

Yes that makes me shed a tear for the poor oil companies. Maybe we need to give them some big fat tax advantages, oh wait we do, well maybe they need more. Maybe we need to take up a collection for them.

America's three biggest oil companies, ExxonMobil ( XOM - news - people ), Chevron ( CVX - news - people ) and ConocoPhillips ( COP - news - people ), all endure income tax burdens of more than 40%--higher than the statutory U.S. rate of 35%. Exxon, with a 45% rate, tallied $21.6 billion in worldwide income taxes for 2010. Source Forbes.com

I'm sure 40% tax isn't enough for you. Do you believe profits are sinful, that corporations should not make a profit at all?

Originally Posted by Crotalus

America's three biggest oil companies, ExxonMobil ( XOM - news - people ), Chevron ( CVX - news - people ) and ConocoPhillips ( COP - news - people ), all endure income tax burdens of more than 40%--higher than the statutory U.S. rate of 35%. Exxon, with a 45% rate, tallied $21.6 billion in worldwide income taxes for 2010. Source Forbes.com

I'm sure 40% tax isn't enough for you. Do you believe profits are sinful, that corporations should not make a profit at all?

I don't know what they pay but in the end they are among the richest corporations in the world and some have more revenue than most countries. So when they have a spill why do they use technology that is 40 years old. I guess they can't afford the research cause it doesn't pay money like new drilling methods.