It's time to declare martial law on oil company looting,In a thinly disguised attempt to act as if it cared about the people wading in the water, Chevron has pledged $5 million to relief efforts. ExxonMobil and Shell have pledged $2 million apiece. British Petroleum and Citgo have pledged $1 million each.
says Derrick Z. Jackson in the Boston Globe.
This is nothing next to their wealth. Of the world's seven most profitable corporations, four are ExxonMobil, Royal Dutch Shell, BP, and Chevron. The [four] had combined profits last year of $72.8 billion...
And that was last year. A month ago, ExxonMobil, Chevron, and ConocoPhillips announced record second-quarter profits of $7.6 billion, $3.7 billion, and $3.1 billion, respectively. Royal Dutch Shell's quarterly profits were up by 34 percent.... Continue