Exxon Mobil CEO Rex Tillerson says that fears about climate change, drilling, and energy dependence are overblown.
Exxon Mobil’s CEO had a good year in 2011 — compensation valued at $25.2 million. Shareholders did as well, and they’re supporting the oil giant’s pay program.
Exxon Mobil gave its top executive a 17 percent increase in compensation last year, as the oil giant posted one of its most profitable years on record.
The ship, which caused the worst oil tanker spill in American history, has changed names and owners four times since the accident in 1989.
Exxon said that it will spend about $185 billion over the next five years to find more oil and natural gas to meet an expected increase in energy demand.
Exxon Mobil’s fourth-quarter profit rose 2 percent as higher oil prices offset a drop in production. Revenue rose 15.6 percent to $121.6 billion.
Apple has surpassed Irving-based Exxon Mobil as the most valuable company in the United States.
Exxon says higher oil prices and refining margins boosted its second-quarter profits 41 percent, the highest profit for the company since 2008.
Exxon Mobil rode higher oil prices to a $30 billion profit last year. But shareholders on Wednesday are likely to ask pointed questions about its push into natural gas.
Exxon says it earned nearly $11 billion, which will likely land it in the center of the national debate over high gasoline prices.
A federal judge will hear arguments Friday on whether Irving-based Exxon Mobil Corp. owes another $100 million to remove oil remaining from the 1989 Exxon Valdez tanker spill.
The largest U.S. oil refinery released 8 million pounds of illegal pollution in the last five years, violating federal air pollution laws thousands of times, according to a lawsuit against Irving-based ExxonMobil.