World-News

The increase in oil prices in world markets is inevitable because the resource is dwindling and supplies have peaked, peak oil means the end of cheap oil, and an end to economies organized around the increasing availability of cheap oil.

http://www.zmag.org/sustainers/content/2006-06/26shiva.cfm



ExxonMobil makes $10.4B in second quarter

Royal Dutch Shell (RDSA/RDSB) said Thursday that second-quarter earnings jumped 40% to $7.32 billion as high oil prices offset production difficulties in Nigeria and the Gulf of Mexico.

http://www.usatoday.com/money/companies/earnings/2006-07-27-exxon_x.htm



ConocoPhillips again posts a record profit

For the second quarter of the year, the company booked net income of $5.2 billion, or $3.09 a share, on revenue of $47.1 billion.

http://www.chron.com/disp/story.mpl/business/4074906.html


From Information Clearing House

--------

Shell Earnings Rise 40 Percent

Royal Dutch Shell PLC, Europe's second-largest oil company, said Thursday its second-quarter earnings jumped 40 percent. The main reason for the increase was higher oil prices, with earnings at Shell's oil exploration and production arm leaping. The earnings were in line with other major oil companies reporting results this week.

http://www.truthout.org/docs_2006/072706S.shtml