Industry taxes

ExxonMobil's U.S. tax burden is already very large. 

• Including all forms of taxation, from 2005 to 2009 our U.S. taxes ($63 billion) exceeded our U.S. earnings ($44 billion) by $19 billion.

• In 2009 ExxonMobil's worldwide tax expenses amounted to $81 billion, more than four times our earnings.  About 25 percent of our revenue went to taxes around the world.  Our earnings, after taxes, amounted to 6.2 percent of our revenues.
• ExxonMobil's worldwide effective income tax rate for 2009 was 47 percent. 

 Additional taxes would raise prices and reduce supplies.

• The administration's 2011 budget proposal seeks about $80 billion in new taxes on the oil industry.  Increasing industry taxes would disadvantage American companies competing in the global marketplace for energy.  New taxes on American energy companies would discourage the critical investments needed to safeguard our energy security in coming decades.
• Industry projects span decades, require massive investments, and utilize cutting-edge technologies that evolve throughout project lifecycles.  Under these circumstances, long-term planning — which relies on stable legal, fiscal and regulatory frameworks — is critical.