Our Lavishly Rewarded Fossil Fools

1
Over the past five years, a new Institute for Policy Studies report details, top-ranking executives at America’s 30 largest oil, gas, and coal companies have together collected $5.97 billion in personal compensation. Number of fossil fuel execs who shared in the $5.97-billion 2010-2014 pay bonanza Pay incentives in the fossil fuel industry encourage environmentally reckless behavior. Instead of investing big- time in renewables, fossil fuel executives have their companies spending billions “buying back” their stock, a maneuver designed to jack up share prices — and inflate the share price- based pay that goes to top fossil fuel execs. Our Lavishly Rewarded Fossil Fools ccc Sources: Institute for Policy Studies, Money to Burn: How CEO Pay Is Accelerating Climate Change, September 2015. Fossil fuel company buyback spending , 2014 163 Number of homes that $5.97 billion could weatherize 3,321,881 $38.5 billi on Global 2014 private sector spending on renewable energy R&D $6.6 b One of America’s top 30 fossil fuel giants, ConocoPhillips, currently ranks as the world’s biggest generator of pollution from methane, a greenhouse gas with 86 times the global warming potential of carbon dioxide. ConocoPhillips CEO Ryan Lance 2014 compensation: $27 million The Earth may have a shaky future. But fossil fuel CEOs have arranged their own futures quite nicely. The top 30 fossil fuel CEOs are currently sitting on retirement accounts worth over $500 Value of ExxonMobil CEO Rex Tillerson’s retirement account: $68 million Median retirement savings, U.S. households headed by 55-to-64-year- old $103,200

Transcript of Our Lavishly Rewarded Fossil Fools

Page 1: Our Lavishly Rewarded Fossil Fools

Over the past five years, a new Institute for Policy Studies report details, top-ranking executives at America’s 30 largest oil, gas, and coal companies have together collected $5.97 billion in personal compensation.

Number of fossil fuel execs who shared in the $5.97-billion 2010-2014 pay bonanza

Pay incentives in the fossil fuel industry encourage environmentally

reckless behavior. Instead of investing big-time in renewables,

fossil fuel executives have their companies spending billions “buying

back” their stock, a maneuver designed to jack up share prices —

and inflate the share price-based pay that goes to top fossil fuel execs.

Our Lavishly Rewarded Fossil Fools

ccc Sources: Institute for Policy Studies, Money to Burn: How CEO Pay Is Accelerating Climate Change, September 2015. Shutterstock..

Fossil fuel company buyback

spending, 2014

163Number of homes that $5.97 billion could weatherize3,321,881

$38.5 billion

Global 2014 private sector spending on renewable

energy R&D

$6.6 b

One of America’s top 30 fossil fuel giants, ConocoPhillips, currently ranks as the world’s biggest generator of pollution from methane, a greenhouse gas with 86 times the global warming potential of carbon dioxide.ConocoPhillips CEO Ryan Lance 2014 compensation:

$27 million

The Earth may have a shaky future. But

fossil fuel CEOs have arranged their own futures quite nicely.

The top 30 fossil fuel CEOs are currently

sitting on retirement accounts worth over

$500 million.

Value of ExxonMobil CEO Rex Tillerson’s retirement account:

$68 millionMedian retirement savings, U.S. households headed by 55-to-64-year-old

$103,200