Friday, October 28, 2011

The Big Oil Quiz

1. ExxonMobil produces 2 million barrels of oil per day of worldwide.  In addition to its own production, Exxon also purchases crude oil at the market rate for its global refining network.  How much oil does Exxon buy every day at the prevailing market rate?
a. 500,000 barrels
b. 1 million barrels
c. 3 million barrels
d. 5 million barrels

2. Local, state and federal gasoline taxes average roughly 49 cents per gallon nationally, and are as high as 67 cents per gallon in California and New York.  What amount of profit does ExxonMobil earn per gallon of gasoline sold? 
a. 65 cents per gallon
b. 45 cents per gallon
c. 25 cents per gallon
d. 8 cents per gallon 

3. More than 75% of ExxonMobil’s operating earnings come from outside the United States. What percent of ExxonMobil's workforce is based in the United States?
a.  20%
b. 40%
c. 60%
d. 80% 

4. ExxonMobil is the world’s largest publicly traded oil company. What percent of the world’s oil reserves does it actually control?
a. Less than 1 percent
b. 2 percent
c. 5 percent
d. 10 percent 

5. What percent of the world's oil reserves do America's "Big Oil" companies control?
a. 3 percent
b. 6 percent
c. 12 percent
d. 18 percent 

6. In the first half of 2011, ExxonMobil paid $6.7 billion in tax expenses in the U.S. What were ExxonMobil's operating earnings for that period? 
a. $20 billion
b. $7 billion
c. $5.5 billion
d. $3.5 billion

Find the answers here.

The Grouch's bonus question:  Who gouges their customers more and reaps windfall profits, Exxon-Mobil or Apple Computer?


  1. Answers? You mean you actually want us to look these up? :)

  2. I'm optimistic that someone might actually open the link and read a few paragraphs. The main purpose of the post is to dispel some of the common myths perpetuated by the media and politicians about big oil.