EXXON EARNS HUGE PROFITS, BUT ALSO PAYS HUGE TAXES 1. the worlds largest oil company, Exxon-Mobil is reporting near-record profits in the first quarter of 2011. Exxon earns nearly $11 bln in 1Q, best since '08 - BusinessWeek 2. only 3% of the oil companys profits come from the U.S. Gas prices and industry earnings: A few things to think about the next time you fill up | ExxonMobil's Perspectives Blog 3. While Exxon Mobil squeezes a couple of pennies out of each gallon of gas, the U.S. government does a bit better. The government rakes in somewhere between 40-60 cents in taxes from each gallon of gas. And since the government spends ZERO dollars to sell that gasoline, their profit margin is 100%. a. The main component of the price at the pump is the cost of a barrel of crude oil. Another major component of the price of gas is state and federal taxes, which range from a high of 66 cents per gallon in California 4. In 2010, ExxonMobil made less than 8 cents [that's 8%] for every dollar of revenue from all of our businesses around the world. Thats less than half of companies selling pharmaceuticals, beverages, tobacco and computers, just to name a few. 5. Exxon also paid almost $10 billion dollars in U.S. taxes last year alone, and just under $59 billion in the past five years. a. From 2006-2010, Exxon earned $40.5 billion in the US b. From 2006-2010, Exxon paid $59.5 billion in US taxes. Exxon Earns Huge Profits, But Also Pays Huge Taxes | TheBlaze.com Does it seem like the Left always needs a bête noire...?