We all know what oil comanies have made in profits? What precisely do they pay the government in taxes?

Question

We all know what oil comanies have made in profits? What precisely do they pay the government in taxes?

Answer 1

You would have to look at their financial statements.  No one can tell you that off of the top of their head.

The good news is that, if they have billions in profits, they are paying billions in taxes.  Unfortunately, a few years ago, the Republican lead Congress at the time gave the oil companies about $6 Billion in tax incentives.  Theoretically, those incentives would allow the oil companies to explore alternative fuels but there was nothing in the law saying they had to do that so they didn't.