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July 28, 2006
Oil Is Nothing If Not Profitable
By: Rowan Wolf
Well, big oil's earning reports say it all: there is big money to be made in oil.
Shell 40% profits 7.32 billion
Exxon- Mobil 36% profit 10.4 billion
Conoco-Phillips 65% profit 5 billion
BP 30% profits 7.3 billion
Chevron 18% profit 4.35 billion
Total profits for the second quarter from the Big Five - $34.37 billion
I guess it might just be coincidence that with oil profits way up, that the Brakes slam on US economic growth, and that the proposed energy bill does not address tax credits for oil companies.
Posted by Rowan at July 28, 2006 9:55 AM Category: Resource Depletion