Oil Industry Profits vs. Gasoline Taxes
October 26, 2005
Who profits most at the gas pump? The answer may surprise you.
We’ve just released a new analysis comparing the combined profits of the largest U.S. oil companies with state and federal gas tax collections since 1977. Here’s the key figure from the analysis:
Figure 1. State and Federal Taxes on Gasoline Production and Imports Exceed Oil Industry Profits in Most Years
Sometimes data really do speak for themselves. Click here to check out the full analysis.