For every dollar of net earnings in the U.S. between 2007 and 2016, ExxonMobil incurred more than $1.45 in taxes to federal, state and local governments. During the period 2007 – 2016, ExxonMobil's total U.S. tax expense exceeded U.S. operating earnings by over $31 billion. For 2016, total U.S. taxes were $4.7 billion, exceeding U.S. operating earnings by $5.9 billion.
On a dollar-for-dollar basis, the oil and natural gas sector's profits are generally in line with the average of all U.S. industry. From 2012 – 2016 the average profit margin of the U.S. petroleum industry was 1.5 percent and the effective tax rate was 33.6 percent. The average profit margin for U.S. industrials during the same period was 7.2 percent and the effective tax rate was 28.2 percent.