Huffington Post: Trump’s Exit From Anti-Corruption Pact Helps Big Oil Hide How Much It Pays In US Taxes

The secrecy underscores the generous subsidies and tax credits afforded to the oil and gas industry. Nearly half of all untapped oil reserves in the U.S. would be unprofitable without subsidies, a study published last month in the journal Nature found. Exxon Mobil alone received $12.8 billion in subsidies and paid a tax rate of 13.6 percent over the past eight years, according to a report by the Institute on Taxation and Economic Policy. (The report did not calculate data for Chevron or ConocoPhillips.)Read more