This video from the USA is about Big Oil profits.
By Bill Van Auken:
2 February 2008
Amid growing fears that the US economy is sliding into recession, accompanied by both mounting layoffs and an increased assault on the living standards of the working population, the big oil companies once again posted record profits.
ExxonMobil, the world’s largest oil conglomerate, announced Friday that it had broken its own previous record for the highest corporate profit ever, raking in a staggering $40.6 billion last year, up 3 percent over 2006.
The profit taken in by this single company amounted to more than the gross domestic product recorded in two thirds of the world’s nations, placing the company midway between Ecuador and Luxembourg, while its total sales—more than $404 billion—top the GDP of 120 countries. It is more than the entire amount spent by the US federal government on K-through-12 education.
The second-largest US oil company, Chevron, posted $18.7 billion in profits for the year, up 9 percent over 2006, while the No. 3 firm, ConocoPhillips, took in $11.9 billion—an actual decline over 2006, due to its loss of oil concessions in Venezuela.
For its part, Royal Dutch Shell reported an annual profit of $27.6 billion, a record for European companies.
Big Oil corporations and art: here.
Big Oil and US politics: here.
Exxon and the Rockefeller dynasty: here.
The Blood of the Earth: The Global Battle for Vanishing Oil Resources by Dilip Hiro: here.
Britain: ENERGY PRICE RISE CONDEMNED – UNISON demands profits inquiry: here.