SAN RAMON, Calif. — Chevron Corp.'s first-quarter profit soared 49 percent to $4 billion, joining the procession of U.S. oil companies to report colossal earnings as lawmakers consider ways to pacify motorists agitated about rising gas prices.

Chevron released its results yesterday after two of its biggest rivals, ConocoPhillips and Exxon Mobil Corp., already provoked public outrage with similarly large first-quarter profits. Combined, the three oil companies earned $15.7 billion during the first three months of the year. That's 17 percent more than the trio made during the same time last year when they went on to pocket a combined profit of nearly $64 billion for all of 2005.

"All these companies have so much money, they don't know what to do with it," said Oppenheimer & Co. analyst Fadel Gheit.

President Bush suggested to the oil companies yesterday that they invest more in projects that will increase energy supplies to meet a rising demand, which is expected to intensify as emerging economic powerhouses like India and China continue to grow.

For their part, the oil companies have been emphasizing that they make far less money on each dollar of sales than many other industries that aren't being excoriated for their capitalism.

Taken together, Exxon, Chevron and ConocoPhillips made a first-quarter profit of $8.19 on every $100 in sales. In contrast, Internet bellwethers Google Inc., Yahoo Inc. and eBay Inc. collectively turned a $19.20 profit on every $100 of their combined first-quarter revenue.

As important as the Internet has become, energy remains a more vital resource, generating a far higher sales volume. That has fueled the mounting indignation over the amount of cash pouring into the oil industry.

The combined first-quarter revenue of Exxon, Chevron and ConocoPhillips totaled $191.5 billion — more than the individual gross domestic products of 189 different countries, including the likes of Chile, Denmark, Peru and Venezuela, according to statistics compiled by the Central Intelligence Agency.

Even as politicians snipe at the oil industry's profits, the government has been sharing in the windfall from high gas prices. In the first quarter, Exxon, Chevron and ConocoPhillips turned over a combined $13.8 billion in excise taxes — about 7 percent of their total revenue.

Chevron also is receiving a financial lift from a deal that Congress helped make last year. The San Ramon, Calif.-based company bought rival Unocal Corp. for $18 billion eight months ago, prevailing over a higher offer from a bidder backed by China's government. The Chinese bidder, CNOOC Ltd., withdrew after Congress threatened to block a Unocal sale to a company outside the United States.

The Unocal acquisition is paying off even better than Chevron envisioned, Chief Financial Officer Steve Crowe told analysts during a conference call.

Chevron's first-quarter net income translated into $1.80 per share, two cents above the average estimate among analysts polled by Thomson Financial. It compared to a profit of $2.7 billion, or $1.28 per share, in the same January-March period last year.

Revenue totaled $54.6 billion, a 31 percent increase from $41.6 billion last year.

Investors cheered the results as Chevron shares gained $1.04, or 1.7 percent, to close at $61.02 on the New York Stock Exchange.