Exxon raped reaped a $36 million dollar record profit last year, giving its Chairman a cool $3.6 million bonus. So how to thank him properly when gas prices hit an all time high with no end in sight? Why not give him a retirement package worth $400 Million??
Exxon is giving Lee Raymond one of the most generous retirement packages in history, nearly $400 million, including pension, stock options and other perks, such as a $1 million consulting deal, two years of home security, personal security, a car and driver, and use of a corporate jet for professional purposes.
There's an urban legend internet chain email calling for a gass boycott of Exxon and Mobil. While I don't think that's going to make much of a difference in gas prices, I'd be willing to boycott Exxon on principle over this one single issue.
We are in trouble for the long haul regarding oil, and it's not only American demand which will drive up prices- China is moving from a coal-driven to an oil-driven economy as well. India's economy is growing, too.
The only solution that I can see is to find alternatives to oil- as quickly as possible. Politically, obviously, this country is not currently oriented towards that option. Neither is the populace ready to make major changes (I know I'm not- even though just not having a car was a recent option). Interesting times ahead.
This is just outrageous. A manipulated market of a commodity we have to buy and 5 companies insulated from any price swings. 2600 energy mergers over the past ten years has not served us well.
We need Teddy Roosevelt to come back from the grave and trust bust again.
$400 million dollars ... and he can't buy his own fucking jet? What horseshit.
I wish our political "representatives" would start acting like it and get up in somebody's face about this stuff.
Do you know if Beilenson (I know I spelled his name really really wrong) has said if he'll confront Big Oil about some of this horse-doody?
And here's what I don't get -- if the cost of gasoline is rising with an increased cost of production, shouldn't the profits be the same? Unless, of course, inflated prices are due to more than just a raise in production costs.
These things will happen when you have an oligolopy and inelastic demand. Add the fact that the olipolopy can dictate its own legislation and as they say in the Midwest: KD-bar the door. We are just getting started.
According to Snopes, such a boycott would not work, and would likely backfire by driving UP prices to consumers.
http://www.snopes.com/politics/gasoline/gasout.asp
We are in trouble for the long haul regarding oil, and it's not only American demand which will drive up prices- China is moving from a coal-driven to an oil-driven economy as well. India's economy is growing, too.
The only solution that I can see is to find alternatives to oil- as quickly as possible. Politically, obviously, this country is not currently oriented towards that option. Neither is the populace ready to make major changes (I know I'm not- even though just not having a car was a recent option). Interesting times ahead.