Mega-Profits for Big Oil
2008Barry Weisleder 2008-06The page as the paper published it (Wayback Machine) →
From the paper's own web edition, recovered from the Internet Archive: the text as the paper put it online, not machine-read. The printed issue of June 2008 is not held.
by Barry Weisleder / June 2008
Petro-Canada, Royal Dutch Shell and BP collectively amassed $17.8 billion in first-quarter profits -- exceeding all expectations as the price of crude oil continued to surge above $135 (U.S.) a barrel.
Profits at the Canadian oil and gas giant were $1.1 billion in the first quarter, or $2.22 a share, up 86 per cent from $590 million a year earlier.
"We're off to a good start for the year, " said Petro-Canada chief executive Ron Brenneman.
And we continue to ask: How much of those profits do you suppose will be dedicated to the development of safe, clean energy alternatives to the burning of fossil fuels and the exacerbation of global warming?