Saturday, April 30, 2011
Your Pain, Their Gain: How High Gas Prices Impoverish The Many While Enriching The Few
The next time you're gritting your teeth as you fill your tank with $4 gas, here's something to consider: Your pain is their gain. The last of the Big Five oil companies announced first-quarter earnings Friday, so the totals are in. Between the five of them, ExxonMobil, BP, Shell, Chevron, and ConocoPhillips made $34 billion in profits in the first three months of 2011 -- up 42 percent from a year ago. Click here.
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