Statement from Daniel J. Weiss, Director of Climate Policy and Senior Fellow, the Center for American Progress:
In 2007, ExxonMobil made a world record profit and all we got was $3 per gallon gas. High oil and gas prices have lined ExxonMobil’s pockets, courtesy of American families paying near record gas prices.
President Bush spent his presidency defending big oil, and it has paid off. In December, he killed tax incentives for wind and solar power, alternative fuels, energy efficiency, clean coal, and cleaner cars all to prevent the elimination of a measly $1 billion in annual big oil tax loopholes. In 2007, ExxonMobil and the other big four oil companies are likely to make a combined profit of at least $120 billion. President Bush’s defense of big oil is shameful.
The Big Five are BP, Chevron, ConocoPhillips, ExxonMobil, and Shell. The data for the figure can be found here.