Kyle Kulinski
@seculartalk·2.1M subscribers·24.1K videos
Exxon Makes $9.5 Billion Q1 Profit After Arkansas Oil Spill
Posted
April 26, 2013
Views
713
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37
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April 26, 2013
713
37
4
5.75%
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2:42Now PlayingOne month after dumping 500,000 gallons of tar sands crude oil from a ruptured pipeline in Arkansas, the most valuable and profitable corporation in the world ExxonMobil announced higher first quarter profits. Exxon earned $9.5 billion in the first quarter, compared to $9.45 billion last year, and Exxon's total oil and natural gas production declined 3.5 percent.
Meanwhile, Exxon is exempt from paying taxes toward the oil spill liability fund that helps clean up spills like in Arkansas, where wildlife have been killed and covered by oil. The 1980 law exemption applies to diluted bitumen so companies escape paying the 8-cents-per-barrel fee to the fund that helps clean up hundreds of spills each year. At the federal level, Exxon's tax rate comes to only 13 percent...
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Clip from the Thursday, April 25th 2013 edition of The Kyle Kulinski Show, which airs live on Blog Talk Radio and Secular Talk Radio monday - friday 5-7pm Eastern.
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