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

by
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.

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