Exxon Makes $104 Million In Profit Per Day So Far In 2012...

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Exxon Makes $104 Million In Profit Per Day So Far In 2012, While Americans Are Stuck With A Higher Gas Bill

By Rebecca Leber

Last year, ExxonMobil, one of the world’s most profitable companies, earned $1,300 in profits per second. As consumers paid record-high springtime gas prices, Exxon posted first quarter profits of $9.45 billion.

This is down slightly from the first quarter of 2011, when Exxon posted $10.65 billion in profits. Exxon benefited from the high price of oil, but analysts expected slightly lower profits due in part to the cheap price of natural gas, which the company is heavily invested in.

A by-the-numbers look shows how Exxon’s executives and Big Oil’s allies are rewarded generously for the company’s billions, while Americans are stuck with rising gas bills:

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Exxon not only used 60 percent of its Q1 profits to buy back its stocks, enriching executives and largest shareholders, but it funnels money through political groups like American Legislative Exchange Council (ALEC) and American Petroleum Institute, to influence legislation in its favor.

http://thinkprogress.org/climate/2012/04/26/471469/exxon-takes-104-million-profits-per-day-so-far-in-2012-while-americans-are-stuck-with-a-higher-gas-bill/

March 29:

In a 51-47 vote, 43 Senate Republicans and four Democrats filibustered to protect $24 billion in tax breaks for Big Oil. Although a majority voted for Sen. Robert Menendez’s (D-NJ) bill, it fell short of the 60 needed. The only two Republicans to break rank were Sen. Susan Collins (R-ME) and retiring Sen. Olympia Snowe (R-ME).

- more -

http://thinkprogress.org/climate/2012/03/29/454853/senators-who-voted-to-protect-oil-tax-breaks-received-23582500-from-big-oil/

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1. What was their return on equity?

Without knowing that, the dollars are hard to put in context.