Greasy Profits

The Occidental Petroleum Company has become the first oil company to reveal its 1974 profïts picture.

Occidental, the 11th largest oil company in America, reports that during the first two months of 1974, the company made a profit of $46.9 million.

This figure is staggering in economic terms because it represents a 1300% increase in profits over the same two-month period of last year.

Occidental is just the first company to report its 1974 earnings. Last month, Washington Senator Henry Jackson predicted that the size of the oil industry profits, to be revealed publicly in the next few weeks, will be what Jackson termed "obscene."