Home > Economy > How Big Oil Spent Part of Its $90 Billion in Profits So Far in 2012 | Center for American Progress

How Big Oil Spent Part of Its $90 Billion in Profits So Far in 2012 | Center for American Progress

Lingering high oil and gasoline prices contributed to another quarter of huge profits for the big five oil companies: BP plc, Chevron Corp, ConocoPhillips, ExxonMobil Corp, and the Royal Dutch Shell Group. They earned a combined $28 billion in the third quarter of 2012, reaping more than $90 billion in profits through the first three quarters of the year. (see Table 1) As they did last year, the “big five” are on track to easily exceed $100 billion in profits this year.

For more on this story, visit: How Big Oil Spent Part of Its $90 Billion in Profits So Far in 2012 | Center for American Progress.

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