Oil Company Exec Bonuses Revisited

In reviewing the subject of bonuses for oil company executives in the midst of the oil spill in 2010, referred to by CNBC.com as the "Crisis in the Gulf," an exploration of other oil company bonuses revealed this to be a normal part of the oil and gas corporate culture.

 
When Transocean rewarded its executives in 2010 for maintaining a numerically sound safety record, they offered financial bonuses. Although the executives donated the money to help those injured in the explosion of the oil rig, CNN News says the company contends that the bonuses were deserved.

According to an article by ABC Good Morning America, when Exxon paid more than $400 million to former CEO, Lee Raymond in the form of stock options, security, transportation and retirement pension funds, it was for leading the company to the largest profit it had ever seen. The company profits totaled more than $36 billion.

                          Source: YouTube, AttackofTheShow

Juxtaposed against the oil spill in the gulf of Mexico in 2010, despite the loss of income, worker injuries and possible long term health effects, deaths, loss of wildlife and devastation, the awarding of bonuses by oil companies shows no sign of being eliminated any time soon.