With black gold king, how can we hope to deal with the growth of Islam in the free world?Lee Raymond, the chief executive of Exxon Mobil, has bowed out from the oil giant with a $400m pay and retirement deal that has caused outrage among environmentalists. In his 12 years at the top of the company, Exxon has pumped an estimated six billion tons of carbon into the atmosphere and has led the opposition to action on climate change
Investors and environmental campaigners condemned a $400m (£214m) retirement package for the boss of Exxon Mobil, the man known as the "Darth Vader of global warming" for his denial that carbon emissions cause climate change.
Protesters descended on the annual shareholder meeting of the world's largest oil company's in Dallas, Texas, amid fury over the lavish lifestyle that it plans to fund for Lee Raymond, who retired after 12 years as chairman and chief executive.
Exxon has been condemned by green groups for fuelling the world's addiction to oil by opposing the Kyoto treaty on reducing emissions and refusing to invest a penny in alternative energy sources. The total amount of carbon released into the atmosphere by the production and use of Exxon's oil and gas output is calculated at 500 million tons a year, or six billion tons during Mr Raymond's tenure.
Since becoming chief executive in 1993, Mr Raymond had become infamous for his dismissive response to environmental lobbyists at previous annual meetings. He has funnelled $19m of Exxon's money to groups that question the science of global warming. His package of pension and perks includes a bodyguard, a car and driver, and use of a company jet, plus a $1m-a-year deal to stay on as a consultant. Anger at oil chief's $400m retirement package by Stephen Foley
Mark Alexander
11 comments:
How nice, Mr Raymond, gets to whorship at the Temple of Dead Presidents, the protestors get to whorship at the Church of the Holy Self-Righteous Twaddle Merchants, the media , gets to display it's highly acclaimed superior disinterested objectivism. Something for everyone.
What a confluence of stupidities!
Wrong question Mark
Oil is a cyclical comodity that rises and falls over time. The answer is fairly obvious increasing supply reduces prices. However the Marxist left impedes development of those resources.
The other factor is that as prices increase other sites become viable
and Saudi Arabia is well aware of the upper thresh hold of the spectrum. Hugo Chavez and the lunatic in Iran have zero clue about ow actual markets work.
The hour of reckoning for the Sons of Allah is at hand. Resource based economies fail over the long haul . Countries that invest in human capital like India and China
will be the power houses of the future. Europe will go into a steep decline unless it dismantles
all traces of socialism.
Beakerkin:
Wrong question Mark
Damn! Why do I always get it wrong in your eyes? I've failed again!
His package of pension and perks includes a bodyguard, a car and driver, and use of a company jet, plus a $1m-a-year deal to stay on as a consultant.
My retirement "package" doesn't look anything like that!
Beak,
as prices increase other sites become viable
and Saudi Arabia is well aware of the upper thresh hold of the spectrum.
In a free economy, that is so. But I don't see much happening as far as developing and marketing alternative sources of energy go.
Our dollars spent on buying oil are funding our own destruction!
Mark, the author Michael Crichton has some excellent essays on the environment at michaelcrichton.com.
I think his latest book "state of fear" (I think) is on this subject. He claims the biggest challenge mankind faces is to distinguish fact from fiction, something I agree with.
Anton:
Thanks for this information. And thanks for the link. I shall investigate.
It's such a shame that people can't speak their mind these days, without barbarians threeatening to kill them.
What a mess we have made of our once free West!
Mark
Trust me you should read the carnage on my blog for those I have serious issues with . I do respect your views but lets go over some simple market basics.
Comodities go up and down in cycles and have lifespans. Oil is a comodity subject to the same behaviors as copper, coal etc. Increases in price create two reactions substitution and the development of additional sources.
The future of oil is quite clear and there is an upper threshold to what the Saudis can get away with.
Chavez is a Marxist and as such has zero comprehension of markets.
There are the types of capital in an economy. Natural Capital is resources like oil, coal, natural resources. Industrial Capital is factories and needs no further explanation. Human Capital is education and information based production. Over the long haul economies based on human capital or at least mixed with the other two elements grow into the dominant powers.
India's growth will outpace China
as they value human capital and have more political stability. Europe is in decline as it has failed to dismantle the socialist mentality. At the same time the socialist economies are buckling the far left insists on allowing immigration of a permanent Muslim underclass that is not required to work . Paternalism is a failure and turns human beings into animals.
Beakerkin:
Trust me you should read the carnage on my blog for those I have serious issues with . I do respect your views but lets go over some simple market basics.
All right. Let's.
Comodities go up and down in cycles and have lifespans. Oil is a comodity subject to the same behaviors as copper, coal etc. Increases in price create two reactions substitution and the development of additional sources.
Agreed. But why are you telling me this. Do you think I would disagree, or what?
The future of oil is quite clear and there is an upper threshold to what the Saudis can get away with.
Yes, this would be correct in a free market. But it seems to me that the Saudis have a stranglehold over the market. With the Saudis, we are locked into a bind.
Chavez is a Marxist and as such has zero comprehension of markets.
I wouldn't bet on that. He might well be a Marxist, but I don't think for one minute that because of this, he necessarily understands nothing about market economics. We'll see.
There are the types of capital in an economy. Natural Capital is resources like oil, coal, natural resources. Industrial Capital is factories and needs no further explanation. Human Capital is education and information based production. Over the long haul economies based on human capital or at least mixed with the other two elements grow into the dominant powers.
Yes, maybe so; but the fact remains that oil drives our economies as things stand; moreover, because the West has allowed itself to become too dependent on it, and because so many people have been making a killing out of oil, and because of all the bribery and corruption - don't forget, the Saudis thrive on bribery and corruption - the Western world has stubbornly, and stupidly, refused to develop alternative sources of energy. This is very, very short-sighted, for not only is oil fuelling the ever-increasing growth of Islam in the free world, because we are empowering the Middle East, the engine of Islam, but we are also damaging the environment unnecessarily.
Now don't get me wrong: I am no GREEN FREAK; but WE DO need to look after the environment for future generations. This is an undeniable and indisputable FACT.
India's growth will outpace China as they value human capital and have more political stability.
We'll see. The Chinese are a clever people. Don't underestimate them.
Europe is in decline as it has failed to dismantle the socialist mentality.
Europe is in danger of terminal decline because of a socialist mentality, I agree. Of course, there could be a rude-awakening at some time. It cannot be ruled out. Britain was in terminal decline until Margaret Thatcher came along with her 'revolution'.
At the same time the socialist economies are buckling the far left insists on allowing immigration of a permanent Muslim underclass that is not required to work.
Yes, they are; but they are not the only ones. The US is supposed to be the example par excellence of a capitalist economy. But what are the Americans doing right now? They, too, are allowing in a permanent Mexican underclass, and far too many Muslims too, and these ILLEGAL IMMIGRANTS are also receiving a great deal of welfare in either direct or indirect forms. (For example: Who is paying for all the schooling and medical treatment of all those illegals? They may not be getting direct welfare in the form of payments not to work, but they are having a free ride, because they are not paying their taxes for these services. The US taxpayer is.)
Paternalism is a failure and turns human beings into animals.
Paternalism is bad. I don't doubt that, But I think it is an overstatement to say that it turns people into animals.
"My retirement "package" doesn't look anything like that!" Always
Well, at least you have one, my dear
Pardon the facetious nature of my comment, but there are many of us out here who do not have such luxuries, and not always entirely due to bad planning on our part either. Not picking on you Always, for I'm sure you have worked for it, you deserve it. Just that those of us out in the free world, are finding it harder and harder to hold it together.
Put another way, Robin Hood has turned into a commoner garden thief.
Hey Mark, this writing lark, does have it's benefits, the spelling is improving, not perfect yet, but improving.
Just Another Richard:
Hey Mark, this writing lark, does have it's benefits, the spelling is improving, not perfect yet, but improving.
I'm happy for you. :-)
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