WOW Do Oil And Coal CEOs Make A Boatload Of Money!



[image url="http://static.businessinsider.com/image/4ab90668ff9b460756566732/image.jpg" link="http://www.businessinsider.com.au/the-top-paid-oil-and-coal-ceos-2009-9/ray-irani-occidental-petroleum-1" caption="" source="" alt="oil cash money price crude" align="left" size="xlarge" nocrop="true" clear="true"]
Oil and coal execs sure raked it in last year.CEOs from the two energy sectors made up seven of the 10 highest paid public company chief executives in the country, according to new research from The Corporate Library.

In 2008, one oil CEO made $222.6 million in total realised compensation, just third behind Stephen Schwarzman of Blackstone ($702.4 million) and Larry Ellison of Oracle ($556.9 million). Six other petroleum and coal CEOs made between $79.3 million and $159.6 million.

Paul Hodgson, Senior Research Associate at Corporate Library explains for us:

The high compensation for the oil execs is largely due to major increases in commodity prices over the three years up to and including most of 2008. This has had a very significant effect on oil industry stock prices, pushing them to increase far above general market increases.

Our issue with that is, of course, that oil execs had little or no control over the price of a barrel of oil but have benefited handsomely from it. What would have been a more appropriate performance metric would be peer-related, so execs only got rewarded for outperforming the industry, not just the general economy.

Of course, oil prices have come down from their summer 2008 high and pending climate change legislation could hurt both industries. Still, do they deserve what they got?

We’ve attached a graph of each companies stock performance while the person has been CEO (or the closest timeframe possible). You be the judge.

See which oil and coal CEOs pulled in the most money in 2008>>>

[slideshow]
[slide
permalink=”eugene-isenberg-nabors-industries-1″
title=”Eugene Isenberg – Nabors Industries”
content=”Total realised Compensation: $79.3 million

Years as CEO: 22


Image: http://www.naborsindustries.com
image=”http://static.businessinsider.com/image/4ab905533f1793262e9549b0/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”mark-papa-eog-resources-2″
title=”Mark Papa – EOG Resources”
content=”Total realised Compensation: $90.5 million

Years as CEO: 11


Image: http://www.eogresources.com
image=”http://static.businessinsider.com/image/4ab903417f81cc2643388ee8/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”bob-simpson-xto-energy-3″
title=”Bob Simpson – XTO Energy”
content=”Total realised Compensation: $103.5 million

Years as CEO: 23


Image: Bloomberg News
image=”http://static.businessinsider.com/image/4ab901e5a4c31e283b87f830/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”aubrey-mcclendon-chesapeake-energy-corp-4″
title=”Aubrey McClendon – Chesapeake Energy Corp.”
content=”Total realised Compensation: $114.3 million

Years as CEO: 20



image=”http://static.businessinsider.com/image/4ab900185af342503b7120da/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”michael-watford-ultra-petroleum-5″
title=”Michael Watford – Ultra Petroleum”
content=”Total realised Compensation: $116.9 million

Years as CEO: 10


Photo: http://www.finance.si
image=”http://static.businessinsider.com/image/4ab8ff1361037d5e5a3fa727/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”john-hess-hess-corp-6″
title=”John Hess – Hess Corp.”
content=”Total realised Compensation: $159.6 million

Years as CEO: 14



image=”http://static.businessinsider.com/image/4ab8fd82b043302b7007b78f/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”ray-irani-occidental-petroleum-7″
title=”Ray Irani – Occidental Petroleum”
content=”Total realised Compensation: $222.6 million

Years as CEO: 18




image=”http://static.businessinsider.com/image/4ab8fcf30a9b40264fd9adcb/image.jpg”
caption=””
credit=””
credit_href=””
]
[slide
permalink=”see-also-8″
title=”See Also”
content=”Have a lot of money like these guys? Here’s our guide to buying a private jet.
image=”http://static.businessinsider.com/image/4aae6703a588bc05188a21a3/image.jpg”
caption=””
credit=””
credit_href=””
]
[/slideshow]

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