Congratulations to Exxon Mobile for earning $56 billion net profit in 2022. Against all odds, they found a way to make record profits
$6.3 million per hour
$1,750 per second
But don’t worry. That didn’t stop Exxon Mobil from getting subsidies from our government. Since FY2000
Texas gave them $1.4 Billion
Louisiana: $500 Million
The federal government: $5.4 Billion in bailout money
Does anyone want to know why we are speedrunning to climate crisis?
@flexghost The best part of those #Louisiana tax breaks? They are granted via the Industrial Tax Exemption Plan, which originally gave a state board rights to exempt companies like Exxon from paying large portions of LOCAL property taxes.
While this program brought industry to many areas, it shifted a greater portion of the tax burden onto individuals, many of whom did not see meaningful wage increases and were disproportionately harmed by the pollution of these facilities.
flexghost.
Austin 