Top Two Oil Companies Earn $160,000 Per Minute, Paid Low Tax Rate

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http://www.alternet.org/hot-news-views/top-two-oil-companies-earn-160000-minute-paid-low-tax-rate

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ExxonMobil:

– Exxon spent 42 percent — or $10.7 billion — of its 2012 profits buying back its stock, which enriches executives and largest shareholders.

– Exxon has spent $17 million lobbying for the past 18 months, making it the top spender in the oil and gas industry. It has spent more than $52 million lobbyingfor the first three years of the Obama presidency, 50 percent more than in the Bush administration.

– Exxon is sitting on $18 billion in cash reserves.

– Exxon send federal candidates $1.3 million in campaign contributions so far this campaign cycle, sending 91 percent to Republicans.

– Exxon paid just 13 percent in federal taxes last year, lower than the average American family. Right after Mitt Romney, Senate Minority Leader Mitch McConnell (R-KY) is the top recipient of Exxon federal contributions.

– Exxon CEO Rex Tillerson received $24.7 million total compensation.

Royal Dutch Shell:

– Shell will start drilling in the Arctic this summer, but its oil spill response plan is still behind schedule. It’s off to an inauspicious start in the Arctic, recently losing control of an Arctic drilling rig.

– Shell has spent nearly $22 million for the past 18 months, making it the second-biggest spender of the oil and gas industry.

– Shell has more than $17.3 billion in cash reserves.

– Shell bought back 15 percent of its second-quarter profits, or $900 million.

– Shell CEO Peter Voser’s compensation more than doubled in 2011 to $15.3 million. His salary increased (in euros) by 113 percent.

– In its annual report, Shell noted that the number of oil spills increased from 195 in 2010 to 207 during 2011.