July 13th, 2008
by Green
MSN Money talks about the pay that oil executives receive. You can just never have enough money, apparently.
ExxonMobil chief Rex Tillerson made $21.7 million last year, according to Equilar, an executive compensation research firm.
At Chevron, chief David O’Reilly made $15.7 million last year, according to Equilar, including $3.6 million in bonus pay. O’Reilly had $26.3 million worth of unvested stock grants at the end of the year.
ConocoPhillips CEO James Mulva made $15 million last year, including a $3.4 million bonus. He also had at least $234 million worth of unvested performance stock, thanks to an increase in the company’s stock price to $90 a share from $68 during 2007.
The article opens this way:
Many Americans are struggling to make ends meet because of $75 and $100 trips to the gas station.
Executives at oil companies are getting rich because of those same trips. And what do those CEOs have to say for themselves?
“It’s not our fault” — or something along those lines.
