Houston, TX – ConocoPhillips says third-quarter profit rose 41 percent due largely to record oil prices this summer. The results easily topped Wall Street forecasts for the third-largest U.S. oil company.
The Houston-based company said net income for the July-September period rose to $5.18 billion, or $3.39 per share, from $3.67 billion, or $2.23 per share, during the same period a year earlier.
Revenue rose nearly 52 percent to $70 billion from $46.1 billion a year ago.
Lawton, OK – One of the more significant pieces of legislation in U.S. history has been in effect for a few weeks. The "Economic Rescue Plan" was passed to rescue lenders and gives the Federal Reserve authority to borrow between 700 to 850 billion dollars. 4th District U.S. Representative Tom Cole from Oklahoma voted for the legislation both times it came through the house.
KCCU's David Meyer reports on why Cole's Democratic challenger Blake Cummings feels the rescue plan robs the taxpayer. This is the final part of a two part series.