[carnut2256]

Sure, spot market prices are the reason. Right.
http://news.yahoo.com/s/nm/20070407/bs_nm/occidentalpetroleum_pay_dc_4

 

[glhshelby]

he shouldn`t even get a salary when he has access to that kind of stock.If so,any exec should have a cap at 1m. If they can`t live on that,they can`t manage their money good enough to be running a corp.

 

[CTWLSMIKE]

"When you look at this, this is solid pay for performance," said Richard Kline, an Occidental spokesman. "It serves the best interest of the corporation and the best interest of the shareholder."
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This guy should get an award for most BS in a single statement. No man is worth upwards of half a billion dollars unless he possibly finds world peace, cures all diseases, and can figure out how to stop the New York Knicks from sucking so badly.

 

[CessnaDriver]

Gas is expensive today because decisions to drill for domestic sources were unpopular with the public ten years ago. The costs are high because we made them high. It is the electorates fault for being over conservative on environmental issues, and nobody wants refinerys in their backyard. We wanted special blend fuels to help the air quality as well, but we do not want to pay more for it. The politicians gave us what we wanted and place taxes on fuel as well for good measure. We wanted SUV's but want cheap gas for them too, but we were unwilling to build the infrastructure necessary to support demand for cheaper fuels today back then. Supply and demand. Supply is now sensitive to overseas events, and oil companys have a fertile ground for high profits.

I wont defend some exec, but they are not the reason why gas costs what it does.

In some western countrys gas costs more then double what it costs in America.
So yes, it could be much much worse.

 

[CTWLSMIKE]

I wont defend some exec, but they are not the reason why gas costs what it does.

In some western countrys gas costs more then double what it costs in America. So yes, it could be much much worse.

I agree with you there. And if you go to Venezuela, gas is about 11 cents a gallon or something ridiculous like that. Nice that they realize what "fuels" their economy and give back to their people.

Now where is my train schedule...

 

[CessnaDriver]

Certainly, but that is artificially created by Chavez, and has nothing to do with giving anything back to the poeple. Living under a socialist whack job does not appeal to me, nor islamic fundamentalists. We are going to be using gas for a while, until the next big breakthrough, which will come someday. perhaps sooner then we think. But more affordable gas in the future, means making some decisions today. Decisions Americans are still reluctant to make.

 

[Atencio]

The United States needs to embark on an alternative energy program the likes of the 60's space program.

 

[CTWLSMIKE]

Certainly, but that is artificially created by Chavez, and has nothing to do with giving anything back to the poeple. Living under a socialist whack job does not appeal to me, nor islamic fundamentalists. We are going to be using gas for a while, until the next big breakthrough, which will come someday. perhaps sooner then we think. But more affordable gas in the future, means making some decisions today. Decisions Americans are still reluctant to make.

Well I was a little sarcastic with the reply, but it wasn't very evident. Your points are well taken and I wholeheartedly agree.

I just hope we don't suffer any big hurricanes this year, or the prices could get even uglier.

 

[CessnaDriver]

They predict an aggressive hurricane season this year. But they did that last year and were completly wrong. Sooner or later they will "guess" right.



I don't think that alternative energy should be persued like the space program was.
I am just too wary of government attempting this on it's own and throwing gobs of taxpayer money down a hole, dictated by politicians where it goes. (their own districts of course) Apollo and NASA enjoyed a special time back then. The gubmint just doesnt work like that anymore.

But I agree on the main thrust of the idea..

I think that truly revolutionary energy breakthroughs should be persued by private industry and encouraged by existing government agencies, cooperation and sharing of information.

There are major corporations looking into things like zero point energy right now.
But, we will always need oil, at least for a long long time. Plastics of course are in nearly everything.

I gotta tell ya, I love my car, I love my 400 HP engine, I just dont want it taken away from me by anyone, I worked too hard to get it. Even gas prices do not bother me too much yet.
In the future, as long as I get the same performance without compromise I dont care what powers it. Mr. Fusion is fine with me.

 

[TheDarkCutlass]

Hurmm, yep, all in america... back in the 60's or 70's, brazil passed a law making ALL gas stations to carry Ethanol.... the 70's!

Heck, we americans are only now comming out with it, and gas stations to fill it up are still very very limited!

And as far as this guy. Lets just say he played his cards right, just like ANY shareholder on the stock market that makes a fortune does. IT just so happens he was also a CEO of said company (hence why he has so many shares of said stock) and when you make your stocks do a 699% increase, alot of people are cashing out!

 

[Atencio]

Hurmm, yep, all in america... back in the 60's or 70's, brazil passed a law making ALL gas stations to carry Ethanol.... the 70's!

Heck, we americans are only now comming out with it, and gas stations to fill it up are still very very limited!

Our ethanol program will never be successful like Brazils. Brazil's ethanol is sugarcane based which takes far less energy to convert to ethanol then does our corn based ethanol.

 

[TheDarkCutlass]

then maybe we need to bum rush FL for all their sugar canes?

Maybe we should start impoting sugar instead of oil?

 

[Milezone]

$3 a gallon because this is America, a free country. We all hate the $3 a gallon gas but us as American choose to purchase gas gussling rides and choose to pay that $3 a gallon. Kinda like choosing to buy a JL or a HW. Our choice.
If we continue to allow the gas companies to charge this amount using our big fancy no mileage rides, then the gas companies will continue to charge the max theycan for thier profit. Once a monopoly accurs (as in Microsoft) you really have no choice but to pay what they ask.
I'm no expert at this stuff, that is just my take on things. We are making our first purchase of a hybrid this year, as we do lots of driving to and fro our store. And I want to give the gas companies as little of my money as possible.

Russ

 

[32lowboy]

^^^^^^^
like Russ said, gas is 3 bucks a gallon cuz oil companies are greedy, plain and simple.

But look at it this way too, most people drive less when the price of gas go's up, they combine trips or dont go places that are as far as they used to, that has 2 plus's
1 less polutants in the air, better for the environment = us
2 the supply of oil will last longer because we're not useing as much.

on the ethanal thing, I was reading a few weeks ago that Coke and Pepsi are both considering going back to sugar as a sweetner instead of corn syrup because the price of corn has gone up so much. funny huh?

 

[Quantum]

I'm a big proponent of curbing excessive executive salaries because for the overwhelming majority, its completely undeserved.

However: high oil prices should be blamed on futures trading and environmental restrictions. The fact that Americans are still buying tons of SUVs doesn't help either.

 

[jedimario]

While $400 million is an aweful lot, it seems they already paid (or promised to pay) nealry 75% over the last 16 years, instead of it all coming now.

"The largest part of Ray Irani's 2006 payout was $270.2 million from the exercise of options awarded from 1997 to 2006, representing more than 7.1 million shares, according to the company's annual proxy statement, which was filed with the "

Granted, I have no idea how this stuff works.

And from the article it really looks like something turned the company around while he was there. Good work should not go unrewarded.

 

[CessnaDriver]

Ultimately it is what pleases the stock holders. Like any big company.
I would rather put up with this kind of thing as a downside of capitalism then any of the alternatives however. And he will spend the money. So it does go to pay others salarys certainly.

 

[ranchero]

I'm a happy and proud Exxon shareholder. My shares have greatly increased in value over the years and the dividend Exxon pays me keeps going up yearly. I have no problem paying for performance and I have no contempt at all for huge salaries and bonuses to corporate CEOs who produce.

It's funny. Our society whines about enviro concerns, will not allow us to drill for more oil supply that could lower prices and complains about paying CEOs well for performance. But nobody ever thinks too much has been paid to the inane celebrities who make movies, tv & music nor to ungrateful or injured multi-millionaire athletes. We need to have contempt for boobs like Barbara Streisand, Snoopy Dog Dog and Barry Bonds but instead we choose to target productive winners just because we don't like paying for fuel.

I filled at $2.52 a gallon of unleaded today and last week in Germany at Euro 1.11 a litre for diesel (about US $6 per gallon). I'm just fine with American oil companies.