Record oil profits, record taxes paid

In regards to “High gas prices, high oil profits” letter to the editor, Feb. 10.

We all have fond memories of what we paid in years gone by. But to blame Exxon Mobil for a litany of problems confronting this country -- including the sub-prime debacle, home foreclosures, a recession that is by all accounts either already here or close at hand, and the loss of jobs -- is ridiculous.

Exxon Mobil established a record when it reported its recent earnings. But what seldom gets into the headlines is the amount of taxes it had to pay on those profits. My guess is that this amount also exceeded previous record amounts paid by any corporation.

The sub-prime mortgage situation can be blamed on individuals who either knowingly purchased homes they could not afford or lending practices that were totally inappropriate and even unethical by some accounts.

So before we blame Exxon Mobil or any other major oil company, it might serve everyone’s interests if all the facts were placed before us. And, no, I do not work for Exxon, either. I am just a simple consumer.

Bill Millico

Rancho Palos Verdes