Wednesday, April 27, 2011
SQUEEZING THE PUBLIC DRY
In business news, oil giant BP is reporting it made just $7 billion in the first quarter of the year, a 17 percent increase in profits. BP’s profits come at a time when the price of a gallon of gasoline has topped $4 in many parts of the country. On Tuesday, President Obama called for an end to $4 billion in tax breaks for the oil and gas industry.