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More than one in four shareholders of Exxon Mobil Corp. supported a resolution Wednesday demanding more disclosure about the energy giant’s oil sands holdings, the largest protest to date over the amount of information available regarding the multi-billion dollar energy projects.
About 26.4% of investors at Exxon’s annual general meeting in Dallas voted in favour of shareholder motion asking the company to produce a report detailing the financial risks associated with the oil sands projects. The board recommended investors shoot down the proposal.
Last week, Forbes magazine published what the top U.S. corporations paid in taxes last year.
“Most egregious,” Forbes notes, is General Electric, which “generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.”
Big Oil giant Exxon Mobil, which last year reported a record $45.2 billion profit, paid the most taxes of any corporation, but none of it went to the IRS
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