Meet Lee Raymond, chairman and chief executive of Mobil-Exxon.
Lee is the man who is enjoying the profits of those high prices you are trying to pay at the gas pump.
Because of record breaking profits, Mobil-Exxon has announced it has paid Raymond $7.5 million this past year in salary and bonuses.
Then Mobil-Exxon padded it with a $28 million stock grant to Lee and capped it off with $2.6 million in "other compensation" and "incentives."
Tell me, what kind of incentives do you need after just being handed $35.5 million for one years work?
The only thing I can think of is giving him an even greater incentive to gouge our pocket books even more than he had this year.
Today's lesson is in spelling so pay close attention.
Price gouging is spelled thusly...
M-o-b-i-l hyphen E-x-x-o-n
The company's website explains that among other things, Lee is being rewarded for "robust returns in world wide exploration."
I think they really meant "world wide exploitation."
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