One (Obscenely Profitable) Day In the Life of Big Oil August 2, 2012Posted by rogerhollander in Economic Crisis, Energy, Environment.
Tags: abby zimet, big oil, carbon pollution, Obama, oil ceos, oil companies, oil industry, oil profits, roger hollander, romney, stock paybacks, tax breaks
by Abby Zimet
Every hour this year, the five biggest oil companies have made $14,400,000 in profits, or more in one minute than what 96% of American households earn in one year. Each hour they also received over $270,000 in federal tax breaks, or $2.4 billion a year. Romney and the GOP want to double that, even though they already pay under 17% in taxes. ThinkProgress created a great chart tracking their money and pollutants over one day.