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TIMOTHY B FAVERO's avatar

A friend of mine wrote her MBA thesis on integrated oil companies and found out that these companies make $0.05 - $0.07 cents per gallon of gasoline sold. These companies also spending billions yearly on capex to try and keep gas prices low. They also spending millions-billions on local, state and federal excise taxes, and property taxes on their facilities and the gas stations that they own. Exxon Mobil in their 2012 10K on page 94 said that their income tax rate from 2010-2012 was 45%, 46% and 44%. https://www.sec.gov/Archives/edgar/data/34088/000003408813000011/xom10k2012.htm

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John Oh's avatar

There must be some malice involved to be so wrong on so many things. For instance, if at the beginning of the Russian invasion of Ukraine, the administration had said we'll worry about climate later, we need to produce more energy and expanded oil gas and nukes, the Russians would have seen a serious counter to their energy blackmail coming. And the situation would be much different and better. Wandering around asking KSA and Venezuela to produce more is just stupid especially when there is no refinery capacity. It's a clear sign that this administration is not serious about doing anything to help the average person.

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