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  • Exxon Mobil (XOM) says CEO Rex Tillerson’s total compensation reached $40.2M last year, up 15% Y/Y, with much of the increase due to a change in pension value and other deferred compensation earnings. Tillerson's salary rose to $2.5M from $2.4M; effective Jan. 1, his salary increased to $2.7M. [View news story]
    Yes, thanks to all the OLD dedicated men that worked for these BIG oil companies in the past. they suffered and did with out to make the company grow. My Dad went to work for The Texas Company (TEXACO, INC.) mid-1932, worked until he was 66 and had to retire because of age. When he first started working, there were paydays when the men were told that as soon as the Company got money in, they would be paid. Just remember that was in the bad days of the big depression. They never got a bonis for helping the company out, they continued doing their JOB. No he was not the only man that did that, they made the big companies of today, I have to wonder how long the men would work if they were told that as soon as the Company got money, they would be paid.
    Apr 12 03:40 PM | 2 Likes Like |Link to Comment
  • The Arkansas Attorney General's office is opening an investigation into the causes the Exxon Mobil (XOM) pipeline rupture that spilled thousands of gallons of oil into an Arkansas town last week. The AG says the probe will determine whether XOM may be liable for the consequences of the spill under the Arkansas Water and Air Pollution Act and other laws. [View news story]
    They are responsable under the Federal Pipeline Safety act, falls under the 195.+++ code. Since it is an OIL line the big difference is it is a Criminal charge besides being a civil charge. If guilty, some one will go to Federal Prision.
    Apr 2 01:50 PM | Likes Like |Link to Comment
  • Exxon Mobil (XOM +0.4%) says it has yet to excavate the area around an Arkansas crude oil pipeline rupture that spilled ~12K barrels of crude during the weekend. Cleanup efforts are continuing as the pipeline remains shut. Digging down to the pipeline breach is a critical step in assessing damage and determining how and why it ruptured. [View news story]
    As a PE with 50+ years in the corrosion field, I would love to be onsite when this line is dug up. I have examaned many pipeline failures over the years. Did one for EXXON many years back on a large diameter gas line that failed in South Louisiana. It was a consturction failure, not corrosion.
    Apr 1 02:16 PM | 2 Likes Like |Link to Comment
  • An increasingly vocal campaign is arguing for a go-slow approach in allowing U.S. exports of liquefied natural gas. Industrial firms such as DOW, HUN and AA fear that exporting LNG could hurt the U.S. by driving up gas prices. But an XOM exec asks, "Why should the U.S. government discriminate between a... project to liquefy natural gas and a chemical plant to solidify it into plastic pellets? Both create investment, both create thousands of jobs." [View news story]
    Lets not give that energy to other countries and then have the American People paying high prices for energy used here. At the present time we are told that there is a surplus of Natural Gas here in the USA but I do have to question the source. Shale Gas comes on strong for a year or so until the frac pressure is depleted, then it drops off drastically, I know this for a fact, I have a well located on property that has done just that, it is now just a small amount per month. I have to wonder if the projection of gas is not based on the first few months of production. Let the other industries pay for the gas here on a supply and demand basis.
    Mar 26 05:25 AM | 2 Likes Like |Link to Comment