This past week BP, Phillips 66 and Shell reported financial results for the first quarter 2013. BP's replacement cost profit was $4.2 billion, down from $4.7 billion in the first quarter of 2012. Phillips 66's earnings were $1.4 billion, up from $636 million in the first quarter of 2012, while Shell's net profit was $8.18 billion, down from $8.74 billion in the first quarter of 2012.