29 Jul '12, 8pm

How Do You Spend $375 Million A Day? Ask The Oil Industry

How Do You Spend $375 Million A Day? Ask The Oil Industry

That certainly warrants repeating: Exxon and Shell made a combined $160,000 every minute for the last quarter, and still helped themselves to a piece of the $2.4 billion in federal tax breaks and subsidies that flow to the top five oil companies (the grand total for all members of the industry is estimated to be between $4 and $7 billion a year .) At their current rate of pay by the minute, they are on track to beat their record from last year when the top five oil companies combined earned a total of $261,000 every minute , for a grand total of $375 million a day . So the ultimate question is how do they spend all that money? The simplest answer is that they spend most of it in ways that only makes them wealthier. Again from

Full article: http://www.desmogblog.com/how-do-you-spend-375-million-da...

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