Oil Company Profits

At least $1500 x 60 seconds x 60 minutes x 24 hours x 90 days
or for those who don't do story problems.
((((1500)60)60)24)90)

That was one, the big one, company's profit take!
Congratulations! A company that can have back-to-back world records for profits by a corporation. I mean, they broke their own record... what an achievement.
So to expand out a bit ... $1350X60X60X24X180
It's been a OK year, so far.

Put together with the federal tax breaks and the reversal of the Alaskan incident damage award. Wow, a very good year.

Update 03/25/09

"Under pressure to narrow projected deficits, President Barack Obama's 2010 budget proposal calls for raising more than $31 billion over the next decade by eliminating the oil and gas industry's eligibility for various tax breaks."

ah WSJ "Obama Administration Revives Tax Battle With Oil Industry"

well, it was going to happen. And of course the oil industry is crying people will lose jobs... whatever. One thing I do know. Once you get accustomed to a certain income level you work to stay at it ...but see the oil companies just where able to take advantage the last year of the Bush term. and huge.

"A report by the Congressional Research Service last year said the top five major integrated companies -- Exxon Mobil Corp., Royal Dutch Shell PLC, BP PLC, Chevron and ConocoPhillips -- generated more than $100 billion in profits on nearly $1.5 trillion of revenue in 2007."

writing this it appears like George W. Bush either worked to enable certain industries to just rake in the cash. Back to Back to Back Record Oil Profits and the massive bailout for supposedly wealthy firms per his pal Paulson. OR he really was a cowboy and could not recognize major problems in a line-up.

Update:
Opps! Did it again. what are the odds of 3 times in a row? ...run up the largest profits ever by a corporation 3x in a row.. They just got better again ... I mean when the profits came out 6 months ago. Those where "wow", then 3 months ago it was like "Whoa" and then again it is like. Is there any money left in the world? cause you got a profane amount of it.

Good Job! You did what every American company is set up to do. Now put the money to good use, so we don't have to offer you corporate welfare anymore.

Oops, did I say corporate welfare? Oh, I am sorry I am just kinda jealous of your success. I look at it like the oil industries just won the lottery. They got money now. $54 Billion in profits in their sector for the last 90 days. I can imagine seeing all the smiling faces of oil companies holding this big check for $54,000,000,000. I can imagine a group of people, who receive public assistance, pooling their resources to buy lottery tickets. Not a good idea, but it happens and this time they win.

Now they would be off the public payrolls. The government is not going to ask for the assistance back. Just go on with life and wish them good luck.

Well, Mr. Oilman, time to use your own money. Voluntarily give back your government benefits. Don't worry we will be here to hand you another welfare check in the future, should you need it. Just like my fictional lottery winners, you know at least one of them will be back on public assistance.