"Exxon and Chevron pay more in taxes abroad than they pay in the US, as detailed in a report by @factcoalition.bsky.social ....The new reporting requirements are particularly relevant now, as the gas and oil industry’s tax avoidance continues while Americans face rising costs at the pump."
Zorka Milin
Oil and gas companies pay more in taxes abroad than they pay in the U.S. thanks to excessive tax breaks and subsidies.
But as Americans face higher fuel prices, even more handouts to this industry will not lower prices.
itep.org/major-oil-an...
The oil and gas industry has long been known for widespread tax avoidance. Now, thanks to new disclosure rules, we have a better picture of how this occurs.
