Exxon: Profit Pirate or Tax Victim?
The oil giant paid $9.3 billion, or 49% of its first-quarter gross income, in income taxes. Is that enough? Depends on who you talk to
With gas prices averaging $3.63 a gallon, consumers understandably aren't cheering Exxon Mobil's latest profit report. On May 1, Exxon Mobil announced first-quarter 2008 earnings of $10.9 billion--a figure that marks the second-largest U.S. quarterly profit ever, even if it slightly missed Wall Street's expectations.
Perhaps more surprising was this figure buried in the Exxon (XOM) report: $9.3 billion. That's how much Exxon paid in worldwide ...
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