$154 million

[Shimy87]

This is what the CEO of Conoco oil made last year. Maybe the goverment should spend less time worring about gay marriage and more time worring about how these oil companys are killing the economy. This prick isnt curing cancer, why is he getting paid like he did. Makes me sick

[ULYCYC]

Think you read it wrong. His base is 1.5 million a year plus a few million in stock options and bonus. 

[Shimy87]

Check it out on MSN money. His realized income was $154.7 million, he also has a ton of stock options not included in this report. He actually made that much for 2011

[ULYCYC]

That's profit on stocks he owns not salary.  Good for him.  Norbs and me should have bought some too.

[Steve Wood]

Exactly how are oil companies killing the economy?  Oil companies are one of the last large private enterprises in this country and, as such, one of the largest employers.  Oil company profits are small per gallon of gasoline and extremely small in comparison to state and federal taxes per gallon.

Further, contrary to what Obama likes to tell us, oil companies are not subsidized and receive no federal grants of any kind.  They do receive tax credits for investment in this country as do other major industries.... as if we had any left.

A subsidy is a cash payment such as the ethanol industry received for years to encourage them to buy up corn and make a lousy fuel supplement that lowers our gas mileage such that any benefit received from the reduction in usage of gasoline may be more than offset by the increased fuel required to get you from A to B.

Conoco is a publicly owned company that is owned by its stock holders, and as such, his salary, benefits, etc., are approved by a board of directors elected by the stock holders which benefit from profitability of the company.

Strange how oil company executives are demonized while bankers, Apple management, et al are largely ignored.  Yet oil companies support a far larger segment of the economy than do the others. 

[Shimy87]

oil company profits are small?? Investments in this country?  Strange how every year we get a gas price hike because refineries have to switch to a seasonal blend. So they claim a shortage ( I've yet to see  gas station close for a few days because they ran out of gas since he 70's) They raise the price every fall and spring. Maybe build a few new refinerys and create some more jobs with the record profits they make year after year. No, instead we get the shortage bullshit and they raise the price and make more on the gas they produce. I agree that oil companies have a huge roll in the economy, but come on, I say cut the tax breaks or tie them to job creation. The counrty is in desperate need of jobs, and if you believe the oil companies, they dont have the refining capacity, build some? Seems like an obvious solution, but then profits would be down and this poor CEO would have only gotten 77 million last year.

[Steve Wood]

Employment is booming in Texas due to the oil industry.  Texas is, of course, friendly to the industry.  It is booming in North Dakota and all places where oil companies are allowed to explore. 

There is a large shortage of refinery capacity in this country as no permits have been issued to build new ones in years.  After all, we can import refined oil so there is no need to build our own capacity when we can be at the mercy of those countries that can produce and refine.

I said no where that oil company profits are small.  I said the profit per gallon was small in comparison to the amount of taxes imposed by state and federal government.

They only get tax breaks based on investment.  You are merely parroting the left wing sermons that boil down to soak those that can to buy the votes of those that cannot.  Oil companies pay a lot better than does WalMart and Walmart is the second largest employer in the nation falling behind only the federal government that produces even less than Walmart.  The oil industry is the golden goose.

The U.S. now has the highest industrial tax rates of any modern industrial nation and a very small percentage of those that actually pay taxes are responsible for the bulk of taxes paid in this country.

Job creation in this country has been killed excessive and ridiculously complex government regulation-not by private enterprise.  History has shown us that those nations that soaked the rich to sate the rest have lost their wealth as it moved elsewhere.  Europe is the latest example from the fifties, sixties, and seventies.  Now, they have greatly lowered industrial rates trying to lure free enterprise back home, but, fell victim to the old print some more money scheme to bridge the gap so the world is teetering ever closer to financial doom and revolution.

[stevemon]

I'm dumfounded by the amount of misinformation the Left has thrown out there to hornswoggle the sheeple into throwing out the baby & keeping the bathwater. All in the name of sustainability, political correctness & "everyone getting a fair chance".
I'll be surprised if the smoke that Obama's blowing up the rears of the masses doesn't cause riots in the streets should conservatives ever come back in power. (Can we get some Chinese psychiatrists over here to show us how to UN-brainwash?)

[ULYCYC]

Like 99% of the occupy wall street crowd. Ask them a question and they have no clue why they are protesting.  As Steve W. pointed out  taxes paid by us on fuel is a bigger chunk then what the oil companies end profit per gal is. My state NY is $.70 a gal tax. Most oil companies average $.10 a gal profit.  Profit on milk runs close to $1.75 a gal.  Those cows should be grounded up into hamburgers for that.

[Steve Wood]

Exxon made 7 cents a gallon in 2011.  It's profit was about 9% which is not very high and is the middle of the Fortune top 500 companies.  Revenue wise, it is right there with Walmart.  Unlike Apple which is the world's most valuable company based on market cap, it has major operations in this country and it pays very good wages.   Speaking of Apple, it is very interesting to discover the measures it goes to to avoid taxes and it, unlike Exxon, does not return a dividend to its owners.

With regard to Conoco Phillips, its leadership has brought it well up the Fortune 500 ladder to number four position and the performance incentives in its management teams contracts have rewarded them handsomely.  These incentives were approved by its owners (stockholders).   Of course, the management of Facebook has also been rewarded handsomely as well.  The principal has reaped over one billion dollars as his share in the past few days.   We all know how much Facebook does for this country.

With regard to tax breaks, major companies have not received depletion allowances for many a year.  This was eliminated years ago in a prior demonization.  It remains with smaller independents however, but, is used to tar and feather the big companies by the government and idiots on the internet.

Instead of trying to finish the destruction of the American Industrial base, this country should be trying to encourage the private economy sector rather than seeking its elimination thru replacement with jobs in the government "industry".    It's alternative is to find a means of reducing the population by 50% (maybe there is some truth in the Chemtrails rumors).  Unfortunately, even a 50% reduction will leave us largely with the ignorant, indoctrinated, hands out for my personal subsidy, crowd that is incapable of feeding itself.

Welcome to the New Africa of the global economy.

[Steve Wood]

If one buys Exxon common stock, one gets a 2.2% dividend this year.

If one buys Conoco-Phillips stock, one gets 5.5% in dividends this year.

If one buys stock in the U.S. government (T-Note), one will get 0.3% this year

In the private sector, the government would be dismantled by its stock holders, employees terminated, and it's assets put up for auction.  That may be what the Chinese have in mind as we have not fulfilled our promises to them.

[Shimy87]

Holy shitstom, I think I struck a nerve. I believe the less involvement goverment has the better, my main point was this....one man isnt worth that much. I'm a firm believer in capitolism, work hard and do a good job and you will be rewarded. No free lunches. But the "greed is good" mentality of the super rich is nothing to admire. Lets wait and see what good, if any, this guy does with his massive paychecks. I'll go out on a limb and say we wont hear much.

[Steve Wood]

Whether he does good with it, or not, we shall never hear because that would be counter to the propaganda that the media wishes to hear.  If he had been a member of the banking industry, it would have been considered chump change.

The fact is that he is running a 250 billion dollar company and his leadership has produced outstanding results for the stock holders.  Further the stock has performed very well and he is merely reaping the rewards of the stock performance.  If it had gone the other way, he would have far less income as he could not cash in for a profit that was not there.  Stock options are one of the common means of encouraging leadership to perform.  If you do, you make a lot of money.  If you don't, you probably get fired, but, you certainly don't make more than your base salary.

I would suspect that he will do more with his rewards that do most of the liberal money makers like the guy at FB as he spent a lot of years to get where he is today and he has not forgotten.

His company is planning to drill 150 wells in southwest Texas this year.  I promise you that this creates a bunch of jobs in all the industries that service oil fields.

Further, oil companies do not control oil prices, nor the derivatives generated from crude oil.  It is a commodity and is traded as such.  Oil traders set the market price which is driven by supply/demand, and a lot of psychology.  This is just like commodities like corn, soy beans, or gold.

Your post misconstrued the actual facts and your statement that oil companies were killing the economy was a rant that has no basis in reality.  Unfortunately reality has been submerged in propaganda and you are probably not in a minority these days with the continual barrage of lies that come out of Washington and its spokepeoples (spokesheeples).

The largest single in situ oil reserve in the world is in Northeastern Alberta.  It is larger than Saudi Arabia or Venezuela.  North Dakota and Texas have giant reserves in the ground.  I don't think anyone really has a grasp on how much is in the Gulf of Mexico.

One thing that is certain.  North America has many years of energy reserves compared to any other part of the world-IF they are developed.

This is scary as a nation as large as China cannot support its growth requirements.  Nor can Russian, Europe, etc.  We are sitting on the one thing that everyone else needs.

[Just a Six?]

Even if he donates 20% a year to medical research it won't make the news.
But I agree that it's twisted to see One Man make as much as a small city of hard working people.

[ULYCYC]

As I said before, that 154 million is leftwing bullshit math. This is from the wall street journal and concurs with other news sources.  Also what business is it of ours on how he spends his money?   Stuffing stripper G strings with $100 bills is more fun than building parks for crackheads to hang out in


HOUSTON (Dow Jones)--ConocoPhillips (COP) Chief Executive Jim Mulva received around $27.7 million in total compensation in 2011, a 55% increase from a year earlier, driven mainly by a jump in his pension value, according to a regulatory filing.
 Mulva, who will retire this year and has run the company since 1999, received around $1.5 million in base salary, unchanged from 2010, and cash bonuses totaling around $3.5 million, down from $4.3 million a year earlier, according to the company's proxy statement filed Wednesday.
 He also received shares of ConocoPhillips stock valued at around $7.4 million, a rise of roughly $1.2 million from 2010, and gained $6.5 million by exercising options. Other compensation, including Mulva's use of company aircraft, life insurance and home security, was valued at around $263,522. The value of Mulva's pension in 2011 was around $8.5 million, up from zero reported the previous year.
 -By Isabel Ordonez, Dow Jones Newswires; 713-547-9207; isabel.ordonez@dowjones.com