Comments on: Polluter Profits Surge On ‘High Crimes Against Humanity’ http://wonkroom.thinkprogress.org/2008/07/23/polluter-profits-surge/ Thu, 26 Nov 2009 16:42:01 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: stateofthedivision http://wonkroom.thinkprogress.org/2008/07/23/polluter-profits-surge/comment-page-1/#comment-1696 stateofthedivision Thu, 24 Jul 2008 13:02:23 +0000 http://thinkprogress.org/wonkroom/2008/07/23/polluter-profits-surge/#comment-1696 CococoPhillips makes record revenue and profits of $5.44 billion and doesn't highlight it in their press release? They went on and on about their struggles maintaining production levels and the impact of high oil prices on their refining operations, but this NYSE corp was silent on their banner bottom line relative to history. What DC PR firm crafted such spin? Recall the big oil execs telling Congressional committees about the money they're pouring into exploration? ConocoPhillips spent $288 million on exploration, a mere 5.3% of profit and 0.4% of revenues. Instead, the company spent $2.5 billion to buy back shares and $700 million on dividends to shareholders. The public should be outraged. CococoPhillips makes record revenue and profits of $5.44 billion and doesn’t highlight it in their press release? They went on and on about their struggles maintaining production levels and the impact of high oil prices on their refining operations, but this NYSE corp was silent on their banner bottom line relative to history. What DC PR firm crafted such spin?

Recall the big oil execs telling Congressional committees about the money they’re pouring into exploration? ConocoPhillips spent $288 million on exploration, a mere 5.3% of profit and 0.4% of revenues. Instead, the company spent $2.5 billion to buy back shares and $700 million on dividends to shareholders. The public should be outraged.

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