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Big oil company profits absurd, but ...

Publication: Mississippi Business Journal
Publication Date: 01-MAY-06 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Big oil company profits absurd, but ...(Great Expectations)

Article Excerpt
Every day, I hear more comments critical of the big oil companies. Americans are angry as gasoline prices rapidly approach $3 a gallon--and beyond. I have been critical, too.

For example, Exxon Mobil set a national record for corporate profits last year. Exxon Mobil still has $33 billion in its coffers. Executive compensation is at an obnoxious level. Exxon's CEO, Lee Raymond, received a $58-million pay package for 2005 and another $98.4 million for his retirement.

If today's average production worker had received the same percentage of wage increase as the CEOs of the mega-corporations since 1990, the average would be an annual income of $110,126 rather than $27,460. Had minimum...

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