Income Taxes

Senator Bernie Sanders of Vermont states that some US oil companies are the richest in the country and instead of paying federal income taxes, some are not and some are even getting refunds.  ExxonMobil made $ 40 billion in 2006, $ 41 billion in 2007 and $ 45 billion in 2008.  In 2009 ExxonMobil "paid zero in federal income taxes" and received a refund of $ 156 million.  Chevron made $ 10 billion in 2011 and received a refund of $ 19 million.  Valero Energy got a refund of $ 157 in 2009.  This source says nothing about what they might have paid in taxes just the refund they got.  It is possible they paid too much in taxes and that is what got them the refund.  It is also possible they, like ExxonMobil, paid nothing while getting the refund.  Sanders also claims that the money the oil companies are making is not going into renewable energy or "to prevent oil spills".  

(Source:  "Take on the Corporate Bullies" by Senator Bernie Sanders.  The Progressive Dec 2010 Jan 2011)