Top executives of the five largest oil companies tried to shift anger over high prices to a debate over supplies Wednesday (May 21,2008), leading a senator to accuse them of acting like "hapless victims" while racking up record profits.
He asked Simon (J. Stephen Simon, executive vice president of Exxon Mobil Corp) what his total compensation was at Exxon, a company that made $40 billion last year. Simon replied it was $12.5 million annually
The executives, appearing under oath before the Senate Judiciary Committee, said they know high prices are hurting people, but they said the cause is not company profits but global supply and demand.
Hello!!! Wish I made that much a year, or even half. They are blaming the American public for the high prices and laughing all the way to the bank.