Oil Companies: Low Profit Rates, High Taxes Paid

See QI: Exxon Paid Almost $1M per Hour in Income Taxes and Its Effective Tax Rate Was 42.3% at "Carpe Diem" by Mark Perry. Excerpts:

"ExxonMobil spent $7.8 billion in the first quarter on capital equipment and exploration (73% of its earnings),...Over the next five years, the oil company plans to invest about $175 billion in capital equipment and exploration."

"Dwarfing Exxon's first quarter profits of $10.65 billion, are the total taxes paid or collected around the world by Exxon from January to March, which totaled to$26.2 billion..."

"Exxon Mobil paid $8 billion in income taxes in the first quarter on $18.9 billion of income, which translates into a 42.3% effective income tax rate on its income."

"The 6.1% average profit margin for Exxon's industry "Major Integrated Oil and Gas" ranks #112 among all industries for the most recent quarter..."