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  • Gov't Gas Taxes Exceed Oil Company Profits...(media continues to blame the big oil)

    04/26/2006 6:26:44 AM PDT · by IrishMike · 58 replies · 2,047+ views
    NewsMax ^ | Wednesday, April 26, 2006
    While the media continues to blame the big oil companies for gouging U.S. motorists as they collect record breaking profits, the windfall profits raked in by the government in the form of energy tax revenue actually dwarf the oil companies' jackpot. The press sounded the alarm last year when the largest U.S. oil company, ExxonMobil Corp, announced profits of $36 billion. But according to the Tax Foundation, the biggest price gouging profiteer was the U.S. government, cashing in to the tune of $54 billion in oil and gas taxes. "Tax collections on the production and import of gasoline by state...