Democrats in the US Senate yesterday called for a temporary special tax on oil companies’ profits and a rollback of $17 billion in oil industry tax breaks as part of an energy package.
The proposed 25 percent profits tax would apply just to oil company earnings above what would be considered “reasonable” and only if those […]

ExxonMobil may have record a whopping $11 billion profit yesterday, but its share still fell nearly 4 per cent as analysts warned that the company might fail to grow at all in the next five years.
The bottom line is the world’s biggest energy group’s oil production fell almost 10 per cent in the first three […]

As consumers from Atlanta to Aberdeen struggle with soaring gas prices, and Clinton and Obama squabble over gas tax rebates, at least the oil barons are happy. Royal Dutch Shell and BP have racked up combined profits of over $14bn in just three months, thanks to the soaring prices of oil and gas.
The rival energy […]

“On April Fools’ Day, the biggest joke of all is being played on American families by Big Oil,” so said Edward J. Markey chairman of the House Select Committee on Energy Independence and Global Warming.
In front of him sitting like peas in a pod were the executives from Exxon Mobil, Shell Oil, BP America, Chevron […]

Its April Fool’s Day, and Congress is giving us a chance to have some fun while taking a serious look at the impact of Big Oil. Oil Change International will be watching the hearing closely, and we hope you can watch it with us!
Rep. Ed Markey (D-Mass), who chairs the Energy Independence and […]