NEWS FLASH

GAS PRICES FACT: High Gas Prices Mean Big Profits For Big Oil | Just the five largest oil companies — ExxonMobil, ConocoPhillips, BP, Chevron, and Shell — booked a combined profit of $137 billion in 2011, even though these companies produced 4 percent less oil in 2011. And of course Big Oil’s record profits are directly related to increasing pain at the pump for American consumers:

This fact was first featured in the ThinkProgress Progress Report: “Five Facts About Gas Prices.”