ConocoPhillips Chief Executive James Mulva said cutting subsidies to the five biggest U.S. oil companies is discriminatory, will keep prices up and hinder job growth.
Stocks closed modestly higher on Wednesday, cutting in half the losses sustained Wednesday when a commodity rout roiled global markets.
Stocks traded modestly higher in the final hour of trading on Thursday as a commodity rout that roiled global markets on Wednesday reversed.
"When you see profits that include the word billions, people automatically think someone is getting screwed," says one energy analyst. "The fact that the (oil industry) is getting any breaks at all has become a sore spot."
Senate Democrats challenged leading oil industry executives Thursday to justify generous tax breaks at a time when people are paying $4 a gallon for gas.
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Edgy markets may see another volatile session Thursday, as the commodities shakeout plays out.
Cramer makes the call on viewers' favorite stocks.
Stocks closed at new highs for yet another session despite mixed economic news and a varied batch of earnings reports, putting all three major indices on track for the best April since 2009.
Stocks continued to gain before the market closed Thursday although many tech stocks slipped after mixed earnings reports and ahead of Microsoft's results, which will be released later today.
Stocks traded mixed after news that pending home sales rose 5.1 percent, and a slew of companies delivered a mixed batch of earnings, a day after the market hit record multi-year highs across-the-board.
ExxonMobil’s quarter earnings results were “good,” said Phil Weiss, senior energy analyst at Argus Research Company. He maintained his "positive view" on the stock.
Stock index futures fell slightly ahead of the open on Wall Street Thursday after news that the economy slowed in the first quarter, and jobless claims rose more than expected.
Five major oil companies prepare to unveil quarterly earnings numbers that are expected to show major profits at a time when Americans are facing rising gas prices at the pump. The Obama administration thinks the oil companies should give up about $44 billion worth of federal subsidies over the next ten years.
Brazilian oil giant Petrobras is confident the type of drilling accident BP faced in the Gulf of Mexico last year would not happen in its offshore operations, a company official said recently.
These four names probably wouldn't make the cut, Cramer said. Here's why.
The buzz at the “Business and Investment In Qatar Forum” is summed up by a Pegasus private equity investor as, “get in soon, it’s growing fast.”
"When a natural disaster strikes, its victims most urgently need aid. Many companies respond by making direct donations and matching employee gifts. But in times of crisis, we advise companies to do more than give money," writes this author.
Most oil companies are trading higher, helped by a surge in crude prices, according to Michael Kay, equity analyst at S&P.