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Your Pain, Their Gain: How High Gas Prices Impoverish The Many While Enriching The Few

The next time you’re gritting your teeth as you fill your tank with $4 gas, here’s something to consider: Your pain is their gain.The last of the Big Five oil companies announced first-quarter earnings Friday, so the totals are in. Between t…

The next time you’re gritting your teeth as you fill your tank with $4 gas, here’s something to consider: Your pain is their gain.

The last of the Big Five oil companies announced first-quarter earnings Friday, so the totals are in. Between the five of them, ExxonMobil, BP, Shell, Chevron, and ConocoPhillips made $34 billion in profits in the first three months of 2011 — up 42 percent from a year ago.

That’s about $110 for every man, woman, and child in the United States — in just three months.

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