Politics & economics - Apr 18
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Sudan, Chad, oil and genocide
Dave, The Oil Drum
This is the first in a series of posts I hope to complete about oil-related conflicts in regions of the world that TOD does not often pay sufficient attention to. Viewing geopolitics through the lens of oil is not always right, but as Michael Klare's book Blood And Oil makes clear, there is often a connection.
A good case can be laid out that Chad and the Sudan are in turmoil right now over oil and who controls it. Another case can be laid out that the cause of the Genocide in Darfur has it's root causes not only in ancient ethnic/tribal and religious rivalries that have been going on since Sudan's independence in the 1950's, but also has most recently been exacerbated in disputes over who will control the oil in the regions.
(17 April 2006)
The flight forward - links
Big Gav, Peak Energy (Australia)
A potpourri of energy-related links, mostly on politics today.
(17 April 2006)
For leading Exxon to its riches, $144,573 a day
Jad Mouawad, NY Times
For 13 years as chairman and chief executive, Lee R. Raymond propelled Exxon, the successor to John D. Rockefeller's Standard Oil Trust, to the pinnacle of the oil world.
Under Lee R. Raymond, the market value of Exxon Mobil increased fourfold to $375 billion, overtaking BP as the largest oil company.
Under Mr. Raymond, the company's market value increased fourfold to $375 billion, overtaking BP as the largest oil company and General Electric as the largest American corporation. Net income soared from $4.8 billion in 1992 to last year's record-setting $36.13 billion.
Shareholders benefited handsomely on Mr. Raymond's watch. The price of Exxon's shares rose an average of 13 percent a year. The company, now known as Exxon Mobil, paid $67 billion in total dividends.
For his efforts, Mr. Raymond, who retired in December, was compensated more than $686 million from 1993 to 2005, according to an analysis done for The New York Times by Brian Foley, an independent compensation consultant. That is $144,573 for each day he spent leading Exxon's "God pod," as the executive suite at the company's headquarters in Irving, Tex., is known.
(15 April 2006)
Article goes on to describe executive compensation in the oil industry.
Related comment from TomPaine: Legacy of an Exxon CEO.