Vail Daily letter: Letter’s facts wrong
July 20, 2010
In the Wednesday, July14, edition of the Vail Daily, you published a letter from Linda Petrie Bunch wherein she stated that “Exxon Mobil made $19 billion in profit, paid no taxes and got a refund of $156 million”.
Exxon Mobil’s profit of $19.658 billion was after a cash payment for income taxes of $15.427 billion. Exxon Mobil paid taxes at a 43.5 percent rate which is considerably above the stated corporate rate of 34 percent.
The source of this information is the 2009 Exxon Mobil Annual Report filing with the Securities and Exchange Commission.
If people are going to write letters to the Vail Daily, it is incumbent upon them to be accurate.
It is also incumbent upon The Vail Daily to verify the facts before publishing the letters.
It may be popular to vilify the oil industry, but there is no substitute for the truth.
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