Exxon Mobil’s Tax Rate Drops To 13 Percent, After Making 35 Percent More Profits On Rising Gas Prices In 2011

Exxon Mobil’s Tax Rate Drops To 13 Percent, After Making 35 Percent More Profits On Rising Gas Prices In 2011: Exxon Mobil, the most profitable of the big five oil companies, made $41.1 billion in profits last year. Although Exxon made 35 percent more profits since 2010, its estimated effective tax rate actually dropped. Citizens for Tax Justice reported Exxon paid only 17.6 percent taxes in 2010, lower than the average American, and a Reuters [...]/p