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Oil Profits

Big Oil Big on Profits, Small on American Values

Alan Rosenblatt | Posted 05.25.2011 | Green
Alan Rosenblatt

Until oil companies start acting like they are on the American team and help us reduce ALL oil consumption, I will be glad we have lots of grassroots advocacy campaigns to keep the pressure on them.

Sierra Club RAW: John McCain, Big Oil's Bestie as Record Profits (and Campaign Cash) Roll In

Josh Dorner | Posted 05.25.2011 | Business
Josh Dorner

After hitting a real gusher of campaign cash from Big Oil, what does McCain propose to do about high gas prices and obscene oil company profits? Why, he wants to give Big Oil a Texas-sized tax cut.

Big Oil's biggest quarter ever: $51.5B in all

AP | JOHN PORRETTO | Posted 05.25.2011 | Business

HOUSTON — Oil giants Chevron Corp. and Total SA wrapped up a string of gargantuan, record-breaking earnings reports Friday, a stretch in which s...

Oil Profits Shatter Records

AP | JOHN PORRETTO | Posted 05.25.2011 | Business

HOUSTON — Exxon Mobil Corp. reported second-quarter earnings of $11.68 billion Thursday, the biggest profit from operations ever by any U.S. cor...

Shell's Record Profit Fueled By High Oil Prices

AP | TOBY STERLING | Posted 05.25.2011 | Business

AMSTERDAM, Netherlands — Royal Dutch Shell PLC reported a 33 percent jump in second-quarter profits Thursday, its biggest quarter ever at $11.6 ...

Oil Earnings Mixed On "Weak" Gasoline Margins

AP | JOHN PORRETTO | Posted 05.25.2011 | Business

HOUSTON — The roiling global oil market continues to pick its winners and losers, as oil giant BP PLC reported a 28 percent rise in second-quart...

Jason Linkins

McCain Pushes Drilling: "Oil Executives Say...We Could Get Results From It" (VIDEO) | Jason Linkins | Posted 05.25.2011 | Politics

John McCain addressed a town hall meeting in Rochester, NY, today, and the line that everyone will be talking about, or would, if anyone in the media ...

Ferraris Not Good Enough Anymore: Oil Profits Inspire "Conspicuous Consumption"

Wall Street Journal | Margaret Coker | Posted 05.25.2011 | Business

ABU DHABI, United Arab Emirates -- With oil near record highs, the Persian Gulf is awash in cash, stimulating a return to some very conspicuous consum...

Squeezed Dry

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

The long term massive substitution of technology-driven innovation, fueled with cheap wages and energy, may be at increasing risk. Rising energy costs are hard to substitute around.

Oil CEOs: High Prices, Fat Paychecks

BusinessWeek | Moira Herbst | Posted 05.25.2011 | Business

As consumers around the world struggle to fill their gas tanks, captains of the oil industry are getting a raise. Starting with info provided by Capi...

Chevron's 1Q profit of $5.17B marks Big Oil's latest gusher

AP | MICHAEL LIEDTKE | Posted 05.25.2011 | Business

SAN RAMON, Calif. — Astounding profits in the oil industry are becoming as routine as the anguished looks of motorists filling up their gas tank...

Obama Proposal May Levy $15B Tax On Oil Company Profits

Bloomberg | Daniel Whitten | Posted 05.25.2011 | Business

Democratic presidential candidate Barack Obama's proposal for a windfall profits tax on oil companies could cost $15 billion a year at last year's pro...

Stolen Oil Profits "Money Pit" Of Iraq Insurgency

New York Times | RICHARD A. OPPEL Jr. | Posted 05.25.2011 | Politics

The Baiji refinery, with its distillation towers rising against the Hamrin Mountains, may be the most important industrial site in the Sunni Arab-domi...

Oil Profits Suggest Big Oil May Be Gauging Americans

AP | John Poretto | Posted 05.25.2011 | Business

Historic oil prices and $3-a-gallon gasoline have been contributing to fears of a recession, but they've yet to cause the hue and cry that some might ...