TFR1031- CFO/CPA

How Evil is Exxon-Mobil?

Spot on !! Chucky & Bride of Chucky (Billary) and other prominent politicians egregiously exploit Exxon earnings for pure political play and to further their own interests at every oppty. The bias and manipulation of information is so extreme as to be criminal. When most people are presented with the plain facts they are usually dumb-founded don't know what to think. You're absoultely correct, the aggregate of all taxes paid are more that 2x net income. Exxon's avg pre-tax profit margin for the (3) yrs ended 2007 was 17% less than Google, Cisco, Blackberry, Coca Cola, J&J, Proctor & Gamble, ADP and even Weight Watchers. This warrants a windfall profits tax??? Not to mention that approx 75 to 80% of Exxon ownership is represented by avg folks with pensions, IRA's, 401K's and College (Endowment) Foundations??? While Exxon funds taxes in excess of 100% of its profit margin, companies like GE pay as little as 15 cents on the dollar; in fact all of the aforementioned Co.'s have lower effective tax rates than Exxon. The media and politicians zeal to demonize BIG OIL has been so effective as to paint a very negative and unfair picture of a very important and essential industry. Big OIL controls less than 5% of world oil resources, 95+% is controlled by Govt's, many of which are not friendly. Most people have no idea that Africa (Nigeria, Algeria & Libya) produce more than 3x as much oil as Exxon, BP, Royal Dutch Shell, Conoco Phillips & Chevron all put together !! And Africa is a minor player. It's never been more critical for us to get serious about an Domestic Energy policy.