BP reported a 63 per cent rise in profits on Tuesday for the first quarter of this year,

[spanone]

oddly, i couldn't find this story in a usa paper. npr reported on it this am but it's not on it's website.

maybe the american press corps was ordered to keep mum on the story? who knows? no report on exxon/mobil yet.


Rising prices boost oil profits

A global increase in oil and gas prices has contributed to the profit margin of oil majors
British Petroleum (BP) and Royal Dutch Shell, two of the largest international oil majors, have announced a boost in first quarter profits, reflecting on increased oil and gas prices.
BP reported a 63 per cent rise in profits on Tuesday for the first quarter of this year, while Royal Dutch Shell announced a 25 per cent rise in earnings over the same period.
http://english.aljazeera.net/NR/exeres/729B0B17-8C04-4249-B69B-FADF394A4DC3.htm

[AndyA]

1. I'd like to know what other industries have businesses that are experiencing

such profit increases.

Anyone?

There must be a reason why Congress isn't doing more about this. Profits of this nature, in the absence of other industries also showing such increases, would indicate price gouging to me.

[Cerridwen]

2. Kick. n/t

[Rosemary2205]

3. I wonder if the percent profit per barrel sold is the same?

I'll bet you my last penny the oil companies ARE the speculators shoving the prices up in the futures market and deliberately manipulating the supply.