Crisis, but not for Shell oil fat cats

Shell cartoon

A video used to say about itself:

The world’s oil giants Exxon Mobil, Shell, Total and BP are set to return to Iraq more than 35 years after Saddam Hussein nationalised production in the country’s biggest oil deal since the invasion.

Translated from Z24 business news in the Netherlands:

UPDATE Linda Cook receives nearly 8.5 million from Shell

16.03.2010 | 11:24 Released
16/03/2010 | Last updated 11:37

UPDATE – Former Shell boss Linda Cook received about 2009, the year she left the company, over 8.4 million euros.

A large proportion of the sum consists of a golden handshake of 5.4 million euros, according to Shell‘s annual report published Tuesday, March 16. Cook also received her salary and bonus over the first five months that she was executive officer. Up to 31 December she remained on the payroll, her salary was still paid. Cook got a total of 8.479 million euros.

Magistrate model

In the remuneration report, drafted by director Hans Wijers, the golden handshake is based on the Dutch magistrate model. That model is applied in the Netherlands in the event of dismissal.

Cook’s leaving Shell was announced late in May 2009. For a long time, she had been supposed to be the future boss of Shell. But instead of Cook, Swiss Peter Voser became the new CEO and successor to the Dutchman Jeroen van der Veer.

Voser and Van der Veer

Voser in 2009 received 3.8 million euros (3.1 million bonus plus long term bonus). Jeroen van der Veer, who was CEO until July 2009 and later a member of the board of directors of the oil company, still got over 4.8 million euros.

See also here.

Multimillionaire bosses at the massive Shell oil corporation have boasted of doubling the number of workers to be thrown out of their jobs this year to satisfy wealthy City traders.

From Mother Jones in the USA about this video:

Greenpeace’s PolluterWatch brings us a new love story, this one bringing new meaning to the phrase, “Drill, baby, drill.” In their latest, “Rex” (a spoof of ExxonMobil CEO Rex Tillerson) meets “Bob” (Virginia’s new Republican Gov. Bob McDonnell), and the two realize that they’re a match made in offshore heaven.

The Obama administration has given the go-ahead to offshore oil drilling–despite the risk to the land, water and wildlife along hundreds of miles of U.S. coastline: here.

5 thoughts on “Crisis, but not for Shell oil fat cats

  1. In January, a disastrous Supreme Court ruling removed any restrictions on how much money big corporations like ExxonMobil can spend to elect their friends and defeat our allies in Congress. Congress must rectify this issue right after the Easter break or we could lose the Senate and the House to the far right.

    This is urgent – please write your Representatives right away.

    Bob Fertik
    League of Conservation Voters League of Conservation Voters

    Dear Friend,
    The Supreme Court has handed Big Oil a blank check to spend unlimited amounts on elections.

    We must fight back.

    Send an urgent message to your members of Congress today to demand action.

    In January, Big Oil was handed a gift that will help them try to fill Congress with their cronies.
    A disastrous Supreme Court ruling has removed any restrictions on how much money big corporations like ExxonMobil can spend to elect their friends and defeat our allies in Congress.

    This means that profit-driven Big Polluters can now spend unlimited amounts on elections, drowning out the voices of the majority of Americans who support clean energy and a healthy environment.

    Congress must rectify this issue right away. Will you contact your members of Congress to insist they pass legislation reinstating corporate spending limits on elections?

    Click here to demand that Congress take swift action.

    We know that Big Oil has deep pockets. Now, this ruling has allowed them to dig even deeper to influence elections, and destroy our clean energy future in the process.

    Consider what kind of damage this ruling could cause: In the 2007-2008 election cycle, before this catastrophic Supreme Court ruling, ExxonMobil spent just $800,000 on election activities due to existing restrictions. With these limits no longer in place, Exxon’s record-breaking profits could be tapped without restraint. If Exxon diverted just two percent of their $45 billion in 2008 profits to electoral activities, they could outspend the Obama and McCain campaigns combined.

    We can’t let this stand.

    Send an urgent message to your members of Congress right away.

    This Supreme Court decision is part of the disastrous legacy of one of Big Oil’s best friends – George W. Bush. It was Chief Justice Roberts and Justice Alito, Bush-appointed justices, who were the key swing votes in this outrageous decision.

    President Obama criticized this ruling in his State of the Union address, saying it would “open the floodgates for special interests” to spend without limits in our elections, and called on Congress to pass a bill that fixes this wrong-headed decision.

    Please, take a minute to contact your members of Congress now.

    After you take action, please spread the word. Thank you.


    Gene Karpinski
    League of Conservation Voters


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