51% crude oil, 20% refining, 18% taxes, and 11% marketing leaves 0% in profit, which doesn’t really jive with the fact that Exxon did $48.87 billion in profits on $339.25 billion in revenue in 2024, which implies that at least 14% of the cost of the gallon of gas goes to profits.
this post was submitted on 16 Mar 2026
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When you own pretty much the entire manufacturing pipeline, you hide your profit in your early steps and sell at a loss, woe is me, support your billionaires, etc etc
So it makes taxes look huge while not at all accounting for corporate profits. Typical corporate media propaganda.
Tax it out of existence. It's bad for everyone and everything.