Valeri Vasquez, Center for American Progress. May 11, 2011.
Exxon Mobil's accounting methods mask its low effective tax rate: it claims taxes that are paid by others, such as drivers at the pump and employee payroll taxes.
Exxon's taxes were actually less than zero! Big Oil's lobbyists have so skewed the system that Exxon was able to extract a $156 million rebate from us taxpayers last year.