what 5 oil companies with their $375 million in daily profits

[xchrom]

http://www.nationofchange.org/what-five-oil-companies-did-their-375-million-daily-profits-1343222546

The Big Five oil companies – BP, Chevron, ConocoPhillips, ExxonMobil and Shell – are slated to announce their 2012 second-quarter profits later this week.

We can expect these companies, all of which rank in the top 10 of the “Fortune 500 Global Ranking,” to reveal billions of dollars more in profits, after earning $375 million in profits per day in 2011 ($261,000 per minute), and $368 million per day in the first three-months of 2012 — bringing their combined profits to $1 trillion from 2001 through 2011.

Below is a quick look at just how much these Big Oil companies are making, and where they are spending their billions in profits.

Big Oil’s Big Profits, In 24 Hours

1 The five biggest oil companies earned a combined profit of $375 million per day, or a record $137 billion profit for the year, in 2011, despite reducing their oil production.

2 In 60 seconds, these five companies earned $261,000 — more than 96 percent of American households make in one year.
These five oil companies received $6.6 million in federal tax breaks every day.

3 In 2011, the three largest domestic public oil companies spent $100 million of their profits each day, or over 50 percent, buying back their own stock to enrich their board, senior managers, and largest share holders.

4 The entire oil and gas industry spent on average $400,000 each day lobbying senators and representatives to weaken public health safeguards and keep big oil tax breaks, totaling nearly $150 million.

5 Each CEO of the Big Five companies received an average of $60,110 in compensation per day last year. On average, their pay jumped 55 percent in 2011. Exxon CEO Rex Tillerson’s compensation came close to $100,000 per day last year.

[chollybocker]

1. $100,0000 per day!

Can't make that much money selling hamburgers, whores or heroin.

[xchrom]

2. I'll give this 1 kick. Nt

[badtoworse]

3. What is their Return on Capital?

How does it compare with other companies in the oil business and to other industries? The numbers posted don't say much except that they have a lot of revenue.

They are very large companies with huge amounts of capital invested. It's not surprising that their revenues are substantial.

[Swede]

4. Be interesting to see how much they pay in taxes and royalties.

nt

[xchrom]

5. ok -- this is cnn - take with whatever grain of salt you deem necessary

http://money.cnn.com/galleries/2010/news/1004/gallery.top_5_tax_bills/2.html

Exxon Mobil: $15.1 billion

U.S. federal: -$156 million
U.S. state and local: $110 million
International: $15.2 billion
Exxon paid the most taxes last year of any U.S. company, by far -- but not a cent went to the IRS for income taxes. That's because the oil giant does business in some of the mostly highly taxed countries in the world. Want to extract petroleum in Nigeria? Be prepared to fork over up to 85% of your profit in tax payments.

Exxon doled out more than $15 billion in income tax payments to foreign countries last year. U.S. tax codes allow companies to take massive deductions in light of those international charges, which knocked Exxon's federal income-tax bill down into negative territory.

That said, Uncle Sam gets his money in other ways. Including sales taxes and duties, Exxon recorded $7.7 billion in U.S. tax costs last year, and paid even more overseas.

Its grand total in global taxes for the year? A whopping $78.6 billion. The company's effective income tax rate was a hefty 47%, its highest in three years.