WASHINGTON - On a day oil prices leaped to unheard-of highs, senators lined up Big Oil's biggest executives and pummeled them with complaints that they're pretending to be "hapless victims" while raking in record profits.
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Profits have been huge "in absolute terms," conceded J. Stephen Simon, executive vice president of Exxon Mobil Corp., but they "must be viewed in the context of the massive scale of our industry." And high earnings "in the current up cycle" are needed for investments in the long term, including when profits will be down.
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Simon was asked what his total compensation was at Exxon, a company that made $40.6 billion last year. Simon replied it was $12.5 million.
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You have "just a litany of complaints that you're all just hapless victims of a system," Sen. Dianne Feinstein, D-Calif., told the executives. "Yet you rack up record profits ... quarter after quarter after quarter."
minotauromachy, i know you just railed on us for our lack of journalistic integrity, but i'm pissed, and so is the fucking associated press.
these guys are pieces of shit, and they better be careful lest a labor movement have them tarred and feathered.
link.
Wednesday, May 21, 2008
big oil defends right to be greedy, malevolent cocksuckers
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fuck that I am pissed too. I wonder how squirming apologists for oil companies like Glenn Beck can exist. I mean do they really need defending, considering their imperialistic history and humongous profits.
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