Is Big Oil “Taking the Money and Running”? Tax Footnotes to the Rescue
Does the U.S. inadequately tax major oil providers? Using new tax disclosure details from the financial statements of three U.S. oil majors (the TOMs), “Take the Money and Run…” makes this claim. Like many stories today, it employs exaggerated language to hook the reader – “Amid skyrocketing oil prices and concerns about ordinary Americans subsidizing Big Oil’s expected super profits at the…