{"id":207,"date":"2022-06-11T19:26:55","date_gmt":"2022-06-11T19:26:55","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=207"},"modified":"2022-06-11T19:26:57","modified_gmt":"2022-06-11T19:26:57","slug":"biden-tells-exxon-to-start-paying-its-taxes","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/207\/","title":{"rendered":"Biden Tells Exxon To Start Paying Its Taxes"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>With the U.S. Administration growing more desperate by the week as gasoline prices breach $5 per gallon in the United States, President Biden is now taking aim at individual oil and gas companies\u2014namely, ExxonMobil.<\/p>\n\n\n\n<p>A Biden statement attempting to address May inflation data contained harsh words\u2014both for the oil industry as a whole and Exxon specifically.<\/p>\n\n\n\n<p>&#8220;Why aren&#8217;t they drilling? Because they make more money not producing more oil,&#8221; he said. &#8220;Exxon, start investing and start paying your taxes.&#8221;<\/p>\n\n\n\n<p>The President also said that they would make sure everyone knew how much Exxon was profiting. &#8220;Exxon made more money than God last year.&#8221;<\/p>\n\n\n\n<p>To be precise, Exxon&#8217;s net profit was $23 billion in 2021, making up for the $22.4 billion loss the year prior. Exxon&#8217;s 2021 profit came in\u00a0behind Apple, Berkshire Hathaway, Alphabet, Microsoft, JP Morgan Chase, Meta Platforms, Amazon, and Bank of America\u2014and barely eeked out a win over the Federal National Mortgage Association, Fannie Mae.<\/p>\n\n\n\n<p>On the issue of taxes, Exxon\u2019s income taxes for Q1 2022 alone were $2.8 billion dollars, with full year 2021 income taxes at $7.6 billion, according to\u00a0Macrotrends\u00a0and\u00a0CSI Market.<\/p>\n\n\n\n<p>Biden\u2019s anti-oil statement follows a similar one from Thursday, where deputy director of the National Economic Council Bharat Ramamurti told CNN in a phone interview that &#8220;It&#8217;s outrageous that oil and gas companies are able to take advantage and make four times the profits that they made when there wasn&#8217;t a war.\u201d When asked about the potential for the White House to back a proposal for a windfall profit tax, Ramamurti said that they were \u201copen to lots of different ideas. We realize there is a problem here we need to tackle.\u201d<\/p>\n\n\n\n<p>By Julianne Geiger for Oilprice.com<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2022-06-11T19:26:57+00:00\"> 11 June 2022<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"With the U.S. Administration growing more desperate by the week as gasoline prices breach $5 per gallon in the United States, President Biden is now taking aim at individual oil and gas companies\u2014namely, ExxonMobil. A Biden statement attempting to address May inflation data contained harsh words\u2014both for the oil industry as a whole and Exxon [&hellip;]","protected":false},"author":1,"featured_media":208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,18,36,19,16],"tags":[],"services":[],"class_list":["post-207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-headline","category-lastnews","category-news","category-oil"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=207"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/208"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=207"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}