Posts in Big Oil Profits
- Fossil fuel companies operating in the U.S. and Canada made $271 billion dollars in profit in 2012, while continuing to receive billions in subsidies.
- Arkansas has become the latest scene of an Exxon oil spill, and the subsequent spin attempts to side-step blame. The truth tells a different story.
- Today the House of Representatives’ Energy and Commerce committee is convening a hearing concerning “achieving North American energy independence within the next decade”. Here’s a little tip – save yourself the time and don’t bother watching the bulk of this hearing unless you want a lesson in fossil fuels public relations and willful ignorance. I’ll...
Continue reading 'Energy security hearing to be show in industry spin and willful ignorance'.
- This is a guest post from Phil Mattera, over at the always vital Dirt Digger’s Digest: The U.S. Securities and Exchange Commission often behaves like a watchdog with no teeth, but it has just stood up to intense pressure from big business and finally approved two rules that will shine a light on dealings between...
Continue reading 'Extraction and Disclosure'.
- A couple months ago, Oil Change International worked with Earth Track and NRDC to expose a huge loophole that allows tar sands producers to avoid paying their fair share into the Oil Spill Liability Trust Fund. Oil producers generally pay into this fund, but through a exemption in the tax code, tar sands oil producers...
Continue reading 'Tar sands tax loophole highlighted in two more reports'.
- If you believe the press reports, you’d think that the oil industry was hurting of late, what with the headlines coming out of the most recent quarterly earnings reports saying things like, “Exxon and Shell Earnings Disappoint,” and “Occidental quarterly profit lower”, and “Chevron 2nd-Quarter Profit Off 6.8%; Upstream Earnings Fall”. These headlines paint a...
Continue reading 'Oil companies continue to profit at the expense of our future'.
- Members of Congress have taken almost $16 million from the oil, gas and coal industries so far in this 112th Congress. That puts this Congress on track to be the dirtiest ever. The information comes to light as part of the latest update of DirtyEnergyMoney.com, a project of Oil Change International which uniquely refines and...
Continue reading 'Dirty Energy Money pouring into Congress faster than ever before'.
- Earlier today President Obama challenged Congress to either stand with Big Oil, or stand with the American people. A vote on legislation introduced by Senator Robert Menendez (D-NJ) that would have eliminated over $2.4 billion in annual tax deductions to the top 5 oil companies was subsequently defeated a few hours later. Once again Congress...
Continue reading 'Senate Fails to Cut Favors to Big Oil, Once Again'.
- You can SHARE this infographic on Facebook. What if you were in Vegas, and a friend told you there was a slot machine in the corner that was giving out $59 for every $1 that was put in? You’d think the machine was broken, and that it was rigged. What if an investment advisor told...
Continue reading 'One Dollar In, Fifty-Nine Out'.
- Pssst. I’ve got a secret. The oil industry is in it for the money. I know how shocking this must be for many of you. But it’s true. Literally. The duty of Big Oil’s executives to their shareholders is to maximize their profits. There’s nothing wrong with that, in theory. They are in fact, quite...
Continue reading 'Pssst! Don’t tell anyone…Big Oil Makes Money!'.
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