For a better understanding of oil and natural gas industry earnings, take a look at a pair of blog posts by ExxonMobil’s Ken Cohen (here and here), effectively countering criticisms of the company’s earnings by those who also call for new energy taxes.
- 2011 global earnings: $41 billion.
- 2011 global revenues: $486.4 billion – from which costs (about $413.1 billion) and global income taxes (about $31 billion) are subtracted, leaving about $41 billion.
Perspective: Though ExxonMobil’s earnings are large, it earned only about 8.5 cents for every dollar of global revenue, which is less than half the earnings per dollar of sales for companies selling smart phones, computers, beverages and other commodities.
- 2011 U.S. tax expenses: $12.3 billion
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