Oil profits run about 10 percent of their revenues, which is within the normal range for businesses. The raw numbers are large, though, and can be used by politicians to get voters angry enough to approve more government looting of the companies.

Exxon Mobil pays more in income tax than the entire lower 50 percent of the U.S. population.

Keep in mind that more taxes and penalties on oil companies won't give us more oil or cheaper oil. And if anyone thinks the taxes will actually be used for something useful as far as getting us the energy we need, they haven't been watching our government very long.