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In fact, Exxon’s earnings have exceeded the gross domestic product of
several oil producing nations, including Kuwait, Libya and Qatar,
making it the most profitable corporation in U.S. history.
On October 27, ExxonMobil announced a $9.9 billion quarterly profit despite lost sales and damages to its rigs, refineries and pipelines resulting from the devastating hurricanes that recently swept the Gulf Coast.
The icing on this money cake is massive subsidies given to the oil industry from Congress. In August, Bush signed into law the notorious energy bill - granting $14.5 billion in tax breaks and incentives to the energy industry. Then, on October 7, the House of Representatives passed a bill that would give federal insurance to oil refiners whose expansion projects are delayed by lawsuits or red tape.
Surprise, Surprise
Exxon plans to invest ZERO dollars of its obscene profits into renewable energy development. According to Exxon spokesperson Dave Gardner, "We're an oil and gas company. In times past, when we tried to get into other businesses, we didn't do it well. We'd rather re-invest in what we know."
If Exxon is going to carry on business as usual, it should do it WITHOUT our tax dollars. Our coalition - Exxpose Exxon - is calling on CEO Lee Raymond to refuse the billions in American tax dollars that Congress is throwing his way. That money would be better spent rebuilding the communities destroyed by hurricanes and rewarding companies that are actually trying to solve the global warming crisis, rather than contribute to it.
Take Action!
Don't reward big oil. Tell Congress to remove tax breaks for the oil industry.
On October 27, ExxonMobil announced a $9.9 billion quarterly profit despite lost sales and damages to its rigs, refineries and pipelines resulting from the devastating hurricanes that recently swept the Gulf Coast.
The icing on this money cake is massive subsidies given to the oil industry from Congress. In August, Bush signed into law the notorious energy bill - granting $14.5 billion in tax breaks and incentives to the energy industry. Then, on October 7, the House of Representatives passed a bill that would give federal insurance to oil refiners whose expansion projects are delayed by lawsuits or red tape.
Surprise, Surprise
Exxon plans to invest ZERO dollars of its obscene profits into renewable energy development. According to Exxon spokesperson Dave Gardner, "We're an oil and gas company. In times past, when we tried to get into other businesses, we didn't do it well. We'd rather re-invest in what we know."
If Exxon is going to carry on business as usual, it should do it WITHOUT our tax dollars. Our coalition - Exxpose Exxon - is calling on CEO Lee Raymond to refuse the billions in American tax dollars that Congress is throwing his way. That money would be better spent rebuilding the communities destroyed by hurricanes and rewarding companies that are actually trying to solve the global warming crisis, rather than contribute to it.
Take Action!
Don't reward big oil. Tell Congress to remove tax breaks for the oil industry.
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