Obscene Oil Company Profits


Petro-Canada, Royal Dutch Shell and BP collectively hauled in $17.8 billion in first-quarter profits, with the announcements blowing past analysts' expectations yesterday as the price of crude oil continued to hover above $115 (U.S.) a barrel. With some predicting oil at $200 over the coming years – Qatar's energy minister says even late 2008 is a possibility — the earnings party appears poised to last until the taps stop flowing.

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