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April 28, 2011

Exxon stood head and shoulders above the other big five oil companies with first-quarter profits of nearly $10.7 billion.  CAP’s Valeri Vasquez has the details.

The first anniversary of the BP fatal oil disaster in the Gulf of Mexico reminded Americans of the enormous human and economic costs of our oil dependence. One year later, BP is posting first-quarter profits of nearly $5.5 billion. This 17 percent growth from 2010’s first-quarter earnings comes despite BP having distributed a mere 19 percent of the $20 billion it agreed to pay oil spill victims and their families. Read the full article