and I have to pay $3 a gallon for gas?

http://abcnews.go.com/GMA/story?id=1841989

Exxon Chairman Gets $400 Million Retirement Package Amid Soaring Gas Prices

April 14, 2006— Soaring gas prices are squeezing most Americans at the pump, but at least one man isn't complaining.

Last year, Exxon made the biggest profit of any company ever, $36 billion, and its retiring chairman appears to be reaping the benefits.

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.

Last November, when he was still chairman of Exxon, Raymond told Congress that gas prices were high because of global supply and demand.

"We're all in this together, everywhere in the world," he testified.

Raymond, however, was confronted with caustic complaints about his compensation.

"In 2004, Mr. Raymond, your bonus was over $3.6 million," Sen. Barbara Boxer said.

That was before new corporate documents filed with the Securities and Exchange Commission that revealed Raymond's retirement deal and his $51.1 million paycheck in 2005. That's equivalent to $141,000 a day, nearly $6,000 an hour. It's almost more than five times what the CEO of Chevron made.

"I think it will spark a lot of outrage," said Sarah Anderson, a fellow in the global economy program at the Institute for Policy Studies, an independent think tank. "Clearly much of his high-level pay is due to the high price of gas."

Exxon defends Raymond's compensation, pointing out that during the 12 years he ran the company, Exxon became the largest oil company in the world and that the stock price went up 500 percent.

A company spokesman said the compensation package reflected "a very long and distinguished career."

Some Exxon shareholders are now trying to pass resolutions criticizing the company's executive pay policies. The company is urging other shareholders to vote against those resolutions.



This is crap.

Justin

 

If you want energy prices to come and you want to take an active role in solving the problem, invest in alternative energy stocks.

 

No, that is not the solution.

The solution is to vote.

And you better hurry up and exercise that right while you have it. The current police state we live in is intended to eliminate as many middle class voters from the process as quickly as possible!

 

It is sad that americans have to pay so much for something that has become so essential. Here in Venezuela we pay the equivalent to $0.04 per liter (95 octane gas). Venezuela's president is very incompetent and has asigned unpractical people jobs at the state oil company and thus production has been very low in the last few years. We mainly export to the US; I think that if the OPEC raised the ammount which we are allowed to produce and we had smarter leaders the oil prices would drop considerably. I think that the oil producing countries need to realize that if production is low and prices are high alternate fuel sources will appear (that is not convenient since most of these countries rely on their oil income)

 

That is not true either. Alternate energy ideas are purchased regularly to be buried by the petolium industry. :/

 

I think the profits big oil made just go to show the apathy of Americans. They gouge us for 45 billion dollar earnings and hardly anyone says a thing. Its crazy. American is going down the shitter fast.

 

Look at the charts of some solar panel technology stocks and you'll find that just in the last year many of them have triple digit returns and some even XXXX% returns.

 

Your not going to like this, but, he deserves it.

He has been there for 43 years of his life.

Under his tenur, they have become the worlds richest company.

As a shareholder, I think this is poor timing, but definatly worth every penny.

 

Amen, Henny. He made the stockholders a huge multiple of that.

As for Exxon, they've been extremely successful. Good for them.

Dependence on foreign oil has been a noted problem since before many of us were born, but when we were able to vote Bush was elected over Gore (way back when) and we haven't elected the right people to congress.

 

The market sets the prices not the oil companies. No gouging is taking place, if you want to be pissed off then take it out on the floor traders at the NYMEX.

 

Meh, just be glad you don't pay stupid amounts like in the UK or Hong Kong for example... current UK average price converted to US dollars and US gallons is: $6.15.

 

What's the benefit of having Bush in the W.H?
st12

 

What I wanna know is, if all those know-it-all protestors keep claiming Bush went to war in Iraq for the oil (their famous "No blood for Oil" mantra), then where the hell is my cheap oil????

I demand my cheap oil, dammit!

Stupid kids and their stupid mantras. This is the last time I listen to a bunch of trustfund babies protesting in $200 Nikes and who can afford $500 non-refundable airline tickets to strange cities in the middle of a working day...

 

they have sponsors! No cheap oil for us. Bush wants to control more oil so he can raise the price even higher.

 

Oh, I see. So Bush is sitting in the White House twirling his mustache and cackling at the idea of "controlling oil" prices even higher? Do you actually believe that?

I don't get you Bush bashers. You go on and on about how stupid he is, then you come up with all these elaborate master plans that he has supposedly concocted for various nefarious purposes.

Make up your mind: is the man dumb or is he the world's most brilliant criminal mastermind? He can't be both!

 

Bush isnt controlling oil, traders are. No one sets the prices, the market as a whole does.

 

Actually, the only mistake the Bush's office made was one letter in regards to the country he attacked about the war on terror and WMD. I can't believe how could the so sofisticated Pentagon, Congres, the White residents etc. mistake IraN for IraK?
Now they'll have much harder time going to war with Iran. I hope it never happens, but knowing the Iranians in LA, hard headed people the warr plans are in the making, two years at the very most America will be at warr with Iran. Too bad for all the lives and $$$$$$$$$$$ wasted in Irak, just to change the guy who didn't dance under their music. By the end of this year 2006 or at the beginning of 2007 Iran will be bombarded. The US economy will suffer, probably big time. Iran will be destroyed. Too bad for humanity.
Love is the most powerful wepon.
st12

 

Shhh!!! Common sense has no place in anti-Bush rhetoric.

 

Sorry couldn't help it.. but could you please point to this mustache he twirls?

 

I believe it's an invisible mustache. After all, Bush Bashers think the guy is the World's Most Brilliant Criminal Mastermind and The World's Dumbest Man at the same time, so why can't he have a secret machine that makes his Evil Mustache Invisible as well? You know, coz Evil Mustache Twirling is, like, twice as Evil. And stuff.