08 May '11, 12pm

Big Oil visits the stock market with your money

Big Oil visits the stock market with your money

Big Oil visits the stock market with your money Big oil companies use Q1 profits to drive up their share prices May 8, 2011 Daniel J. Weiss and Valeri Vasquez in a CAP repost . Americans spent 28 percent more for gasoline during the first three months of 2011 than the same period in 2010. Meanwhile, the big five oil companies—BP, Chevron, Conoco Phillips, ExxonMobil, and Shell—made 38 percent more profit. The companies then used a major portion of these additional profits to enrich their board of directors, senior managers, and shareholders by purchasing shares of their stock. A Citizens for Tax Justice report explains that this action: …drive[s] up the companies’ share prices, which also benefits managers, whose compensation depends in part on rising stock values. ExxonMobil nearly doubled its profits from 2010, reaping close to $11 billion dollars. It spent $5.7 billion—...

Full article: http://climateprogress.org/2011/05/08/big-oil-visits-the-...

Tweets

Most-cited climate skeptics linked to Big Oil

sustainablebusiness.com 10 May '11, 10pm

It was the trusted and saintly scientists themselves that originally polluted the planet with their pesticides and cancer ...

The facts of Big Oil's tax loopholes and windfa...

climateprogress.org 12 May '11, 1pm

Americans eager to reduce the mammoth federal debt that threatens our economy’s long-term prosperity overwhelmingly suppor...

Americans to Big Oil: We’ve got your number

Americans to Big Oil: We’ve got your number

grist.org 12 May '11, 6pm

Americans eager to reduce the mammoth federal debt that threatens our economy's long-term prosperity overwhelmingly suppor...

Shill, Baby, Shill: Big Oil Still Getting Big T...

treehugger.com 06 May '11, 6pm

Photo credit: tsuda via Flickr/Creative Commons Yesterday I watched the U.S. House of Representatives shill for Big Oil ag...

Shill, Baby, Shill: Big Oil Still Getting Big T...

treehugger.com 06 May '11, 6pm

Photo credit: tsuda via Flickr/Creative Commons Yesterday I watched the U.S. House of Representatives shill for Big Oil ag...

Oil Money Needed for Geothermal Projects | Alte...

altenergystocks.com 12 May '11, 2pm

America's leadership in geothermal the industry remains in the “and” category. As in, “solar, wind, tidal, biofuels AND ge...

9 in 10 Americans blame Wall Street and Big Oil...

climateprogress.org 10 May '11, 11am

A fundamental reason why the price of oil has been rising in recent years, which you certainly won’t hear from the media, ...

House Reps Squash Effort to End Oil Subsidies A...

treehugger.com 05 May '11, 8pm

House members who voted to continue the subsidies received, on average, five times more money in 2010 from oil and gas int...

Helmsley Money Set-Back for Dog Charities

treehugger.com 08 May '11, 11am

Stunned headlines followed news that Leona Helmsley's dog, Trouble, became a millionare in her own right after the "Queen ...

GOP Has Voted to Support Big Oil 7 Times in 2011

treehugger.com 11 May '11, 6pm

Despite consistently spouting rhetoric that would lead you to believe that the GOP was all about slashing government spend...

Four Ridiculous Subsidies for Big Oil That Shou...

treehugger.com 03 May '11, 12am

Domestic manufacturing tax deduction: This is the largest single tax break, and would save over $1.7 billion a year if eli...

Four Ridiculous Subsidies for Big Oil That Shou...

treehugger.com 03 May '11, 12am

Domestic manufacturing tax deduction: This is the largest single tax break, and would save over $1.7 billion a year if eli...

Senate Holds Hearing on Big Oil Tax Breaks

Senate Holds Hearing on Big Oil Tax Breaks

triplepundit.com 13 May '11, 10am

One argument heard often from the sustainability community, in favor of further taxing big oil has little to do with profi...

Oil subsidy vote was all about the money

Oil subsidy vote was all about the money

mnn.com 18 May '11, 6pm

The funding divide in Washington is likely to become more obvious in the coming days and months. The Senate is gearing up ...

Democrats Seek to Strip $21 Billion in Subsidie...

treehugger.com 11 May '11, 11pm

And it's not like the Democrats are noble champions of the cause or anything -- they were originally planning to use the s...