Tags: General Environment
The five largest oil companies -- BP, Chevron, ConocoPhillips, ExxonMobil, and Royal Dutch Shell -- made a record-high $137 billion in profits in 2011. That's up 75 percent from 2010. Additionally, these oil giants have made more than $1 trillion in profits from 2001 through 2011. This exceeds the previous record of $136 billion in profits in 2008.
At the same time, Big Oil continues to benefit from billions in taxpayer-funded subsidies. Check out this report from the Center for American Progress for more on Big Oil's banner year.