Institute on Taxation and Economic Policy (ITEP)

April 6, 2026

FACT Coalition: Take the Money and Run – Amidst Oil Price Windfalls, U.S. Oil Majors Continue to Pay Less Tax at Home than Abroad

ITEP Work in Action

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The largest U.S. oil and gas companies continue to pay substantially more tax abroad than at home. Corporate tax breaks passed into law last summer are further reducing the effective tax rates of American oil and gas companies. Companies are required to reveal additional details about their taxes due to new accounting standards. 

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