What the Oil Companies Do With Their Record $375 Million A DAY In Profits

Abby Zimet

With the Big Five oil companies – BP, Chevron, ConocoPhillips, ExxonMobil and Shell – slated to announce their second-quarter profits this week, a breakdown of how they spend $375 million in profits per day - $261,000 per minute, or a total of $1 trillion over the last ten years, with the added bonus of $6.6 million in federal tax breaks every day, despite reduced production - mostly on lobbying, obscene CEO compensation, campaign contributions to Republicans, false pro-oil ads, and more lobbying. From ThinkProgress.

This is the world we live in. This is the world we cover.

Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Don't Exist.

Please select a donation method:

Share This Article