exxonmobil explains 107b earnings
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

ExxonMobil explains $10.7B earnings

Arab Today, arab today

Arab Today, arab today ExxonMobil explains $10.7B earnings

IRVING ,Texas - UPI

Oil giant ExxonMobil Thursday reported first-quarter profits of $10.7 billion and warned of a Democratic initiative to remove U.S. oil industry subsidies. The figure is a 69 percent increase over first quarter 2010 profits. Speaking with reporters on a conference call, Ken Cohen, ExxonMobil's vice president, public and government affairs, said Congress should not go along with President Barack Obama's call to eliminate $4 billion in tax breaks for the oil industry. "Democratic Party leadership again talked about removing what they call $4 billion in oil industry subsidies," Cohen said. "But what they really mean is that they want to increase our taxes by taking away long-standing deductions for our industry while leaving these same deductions in place for other sectors of the economy. "The simple truth is that these are legitimate tax provisions to keep U.S. industry internationally competitive -- to keep jobs from being exported to other countries," he said. Cohen said rising oil prices mean "higher earnings for oil companies." He said ExxonMobil "earned about 7 cents" for every gallon of gasoline it sold in the United States and compared that to "40 to 60 cents per gallon that went from gasoline consumers to the government, state and federal, in gasoline taxes." He said oil prices were rising due to the weak dollar, increased demand from emerging economies -- Brazil, India and China in particular -- and from "political instability in some oil-producing regions." "Uncertainty about tomorrow is reflected in prices today," he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

exxonmobil explains 107b earnings exxonmobil explains 107b earnings

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

exxonmobil explains 107b earnings exxonmobil explains 107b earnings

 



GMT 08:12 2017 Tuesday ,28 November

Government launches a campaign to eliminate corruption

GMT 18:43 2018 Thursday ,20 September

Russian PM does not rule out expansion of trade wars

GMT 09:28 2017 Saturday ,30 December

Ski jumping: 40,000 to see Four Hills take leap of faith

GMT 19:31 2017 Sunday ,16 April

Iran to export gas to Iraq

GMT 03:14 2017 Monday ,17 April

Kazakhstan Ambassador hails ties with Oman

GMT 20:57 2017 Wednesday ,20 September

Dubai Customs launches Partners’ Happiness Lab

GMT 18:32 2017 Monday ,30 October

CBE governor directs banks to expand funding

GMT 14:58 2017 Sunday ,19 February

Dhoni removed as Pune captain, Smith to take over

GMT 14:35 2017 Thursday ,19 January

Naidu comes to the defence of 'Dangal' actress Zaira

GMT 18:06 2016 Tuesday ,06 December

HHA launches Geely X7 Sport 4WD in Saudi market
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday