Big oil profits fall by 66%, cash holdings at $50 billion - MarketWatch

NEW YORK (MarketWatch) -- Big oil cast a watchful eye on its massive cash hoard in the wake of sharply lower first-quarter earnings reported in recent days, as last year's boom of $100 crude sharply gave way to lower demand and depressed prices.

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While big oil's collective balance sheet remains as bullet proof as ever, the tidal wave of fresh cash has ebbed considerably for now. , ) even in the midst of a recession, big cap names from the energy sector find themselves adjusting their biggest of big ticket items.

Full Story: Big oil profits fall by 66%, cash holdings at $50 billion - MarketWatch