Showing posts with label Rex Tillerson. Show all posts
Showing posts with label Rex Tillerson. Show all posts

Wednesday, June 16, 2010

Obama Shows He's Great At Talking...Action In The Gulf Is Another Matter

President Obama gave his official Presidential primetime address on the BP oil spill last night, nearly two months after the well-publicized rig explosion occurred. Now the White House may have been intimately involved in the situation early on, but Obama's speech showed that perhaps nothing much of substance has come from his interaction.

Talk of making BP pay, developing a plan to deal with the devastation and crying out against our anti-regulatory political environment over the last twenty or thirty years is all good stuff. However, the President must be a leader, and any politician can make big, broad claims as Obama did last night. What we needed to hear was immediate and effective action plans. I wouldn't have minded an apology for his kowtowing to the oil companies earlier this year when he spoke in favor of offshore drilling either.

Kate Shepard of Mother Jones might have served Obama well if she were let in on writing the speech and more importantly, the policy decisions that should be made for the good of our country and the planet. Here's a bit of what she had to say:

On the Gulf disaster, Obama could have offered clear direction on several issues: for instance, by clarifying the administration's stance on eliminating the liability cap to protect oil companies from damages following a spill, or by offering a hard number for how much money BP must set aside for the independently administered fund the government has proposed.

Then there are the questions about wider energy and climate policy that remain unanswered. Obama largely avoided the issue of climate change, only uttering the word "climate" once as part of the phrase "a strong and comprehensive energy and climate bill." He at least hit the right notes on clean energy, talking about solar power, wind, efficiency, and electric cars, an improvement over his State of the Union address this year, where nuclear power, "clean" coal, and offshore drilling figured heavily. But what his speech lacked was specific directives, which is what the Senate needs at this point. There wasn't even a clear call for a carbon cap, which I fear all but dooms its chances this year.

All of those things and more must be addressed if we want to be assertive in cleaning up the mess in the Gulf and preventing the next environmental catastrophe. You would think that creating more than half a million jobs a year by changing our climate-harming ways would entice Obama and the weak-kneed (and surprise, extremely vulnerable) Congress to do something about the fossil fuel industry. Of course, that would make sense for our long-term prospects, so obviously, they won't do it.

It is easy to call BP incompetent. Hell, they even admit to it themselves. The country is desperate to have a leader grab the reins and make change happen. Yes We Can......if

Friday, April 11, 2008

It Must Be Nice To Be Rex Tillerson

Who you ask, is Rex Tillerson? Only the CEO of the infamous Exxon Mobil. He heads the monolithic oil company that fuels an oil-addicted world its daily ration of poison. He oversees the contamination of the ground, the water and the air. It is a tough job and most likely many would not have the skill (or lack of conscience) to run such an organization. To those that sympathize with this poor, poor man...don't worry too much, he's being compensated quite well.

From The Wall Street Journal:

For the Exxon Mobil Corp. board of directors, the answer was a $16.7 million compensation package for Chairman and CEO Rex Tillerson, up 28.6% from a year earlier.[...]

To judge the performance of the 56-year-old Mr. Tillerson, the Exxon board looked beyond commodity prices to measures such as total shareholder return and return on capital employed. The Irving, Texas, oil giant is the largest U.S. company by its market capitalization -- about $479 billion, according to Thursday's share price.

Mr. Tillerson earned $1.75 million in base salary last year; he'll get a raise to $1.87 million in 2008. He received a bonus of $3.36 million last year, up 20% from a year earlier. The rest of his compensation package included an increase in value of his vested stock grants and pension, as well as smaller items such as personal use of the corporate aircraft ($41,122) and security ($229,331).


On the downside for Rex and other execs at Exxon Mobil, they are no longer going to be reimbursed for country club memberships (how stingy!) and that 25 to 100 thousand dollars will just have to come out of their own pockets. Yeah, its rough, but hey, with nearly $17 million coming into the bank account every year, I think Rex can manage.

As for the rest of us, the price of asthma inhalers will continue to rise, since demand is going to keep going up as the world becomes more polluted thanks to the greed of the oil companies and their disdain for the environment.