Word: exxonmobils
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...Downriver, it's easy to see the cause of this deadly hostility. Since the 1950s, when oil was first found in recoverable quantities, the Delta and the waters off Nigeria's coast in the Gulf of Guinea have made the country and oil majors such as Chevron, Agip, ExxonMobil and Shell hundreds of billions of dollars. Nigeria currently earns more than $3 billion a month from oil - which accounts for some 95% of its export earnings and 40% of its gdp. But the vast majority of the people of the Delta still live in severe and visible poverty...
...nuclear policy and Venezuela's anticapitalism is actually making those countries richer and their rulers more popular by driving up the price of oil, a commodity they possess much of. In Venezuela the self-proclaimed Bolivarian revolutionary Chávez has taken state control of some oil fields and threatened ExxonMobil and other oil companies with raising royalty payments and lowering their partnership interests...
...guys that is pro-business, antitax and antigovernment meddling was talking loudly about greedy petro-executives, IRS audits of oil-company tax returns and withdrawing $2 billion in industry-specific tax breaks over 10 years. That's about a month's worth of profits for ExxonMobil, which announced quarterly earnings of $8.4 billion. "Listen, we've got people like this that are working for a living, who are paying higher prices for their gasoline--it's like a tax," said President George Bush, standing next to local resident Michael Wade at Fayard's service station in Biloxi, Miss., where...
...higher prices help anyone? Oil companies are tallying record-high profits. Their execs are cashing in too. ExxonMobil disclosed last week that Lee Raymond, who retired as its CEO in January, earned $69.7 million...
...measure, the $36 billion in profits that ExxonMobil earned last year is staggering. While corporate critics cavil, shareholders see a company simply doing what companies are supposed to do--earning money. Given Exxon's riches, though, the 32,677 claimants in a 17-year-old suit pursuing a $4.5 billion damage award from Exxon for its 1989 Valdez oil spill are puzzled: Why doesn't the world's largest and most profitable oil company just pay the victims and move on? Exxon recently argued its third appeal of the award handed out by a jury in 1994 as punishment...