[conservative in nyc]

It's due to a number of factors, including excise taxes likely being included in the total, and U.S. companies being taxed on their worldwide income regardless of source. That fact was buried in one of the articles about Exxon's obscene profits.

[volunbeer]

Thanks for that link.... a cut and paste of the most important part -

"also noted the company's (Exxon) U.S. tax obligation in the past five years was about $60 billion -- about $20 billion more than its U.S. net income for the same period.""