ExxonMobil

CONTRACTS

AIR FORCE

The Air Force is modifying a firm fixed price contract with McDonnell Douglas Corp., a wholly-owned subsidiary of the Boeing Co., of Long Beach, Calif., by increasing it to $114,000,000. This action procures multiple retrofit change modifications which brings Block 13 fielded aircraft configurations to a Block 17 aircraft configuration, the configuration of the production aircraft being delivered. At this time the amount obligated has been increased to $51,300,000. 516 AESG/SYK, Wright-Patterson AFB, Ohio, is the contracting activity (FA8614-04-C-2004, P00240).

DEFENSE LOGISTICS AGENCY    » read more »

WASHINGTON -- May 21, 2008 – Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) convened a hearing this morning to examine the explosive rise in oil prices in recent months. The hearing featured testimony from executives of five major oil companies – ExxonMobil, ConocoPhillips, Chevron, BP America and Shell.

Exxon building, Houston, Texas: Photo by Tom Haymes (CC)    » read more »

Washington, D.C. -- May 21, 2008 -- Senator Arlen Specter (R-Pa.), Ranking Member of the Senate Judiciary Committee, today questioned the top oil industry executives on the skyrocketing price of oil at a Senate Judiciary Committee hearing.

In his opening remarks, Senator Specter noted the primacy of the problem:

Gas prices, May 2008: Photo by aaron@digtialcole (CC)

“We are obviously in a crisis, national, international, with the escalating costs of oil and the intolerable prices of gasoline at the pump. It's important that we bear all of our resources to try to figure out what to do about it.”    » read more »

05/08/2008 -- Washington, DC — Senate Majority Leader Harry Reid and Senators Jeff Bingaman, Max Baucus, Charles Schumer, Byron Dorgan, Maria Cantwell and Bernie Sanders held a press conference today to unveil the Consumer-First Energy Act of 2008, a bill that addresses the root causes of high gas prices.

Gas prices: Photo by Todd Lappin (CC)

Seven years of the Bush Administration’s disastrous energy policies have enriched Big Oil and market speculators at the expense of American consumers. Democrats are committed to providing relief to consumers and strengthening our economic, energy and national security.    » read more »

5/1/2008 -- Today, Exxon reported its highest ever first-quarter profits of $10.9 billion, up 17% from a year ago. Yet even these record results fell short of Wall Street expectations, and caused Exxon’s stock to fall as a result. In reaction to this news, Hillary Clinton issued the following statement:

Exxon station: Photo by Je Kemp (CC)

"There is something seriously wrong with our economy when Exxon's record $11 billion in quarterly profits are seen as a disappointment by Wall Street. This is truly Dick Cheney's wonderland.    » read more »

13 February 2008 -- Venezuela's state-run oil company has announced it is cutting crude sales to ExxonMobil, the largest U.S. oil company, because of Exxon's efforts to seize Venezuelan assets.

Petroleos de Venezuela said in a statement Tuesday its move is retaliation for what it calls ExxonMobil's economic harassment.

ExxonMobil has not yet responded to Venezuela's decision.

British and Dutch courts last week granted ExxonMobil's demand to freeze as much as $12 billion in Venezuelan oil assets.    » read more »

02/04/2008 -- Rising fuel prices pushed profits for Exxon Mobil and other petroleum producers to new records. “It is absurd,” Senator Bernie Sanders said, “for oil companies like Exxon Mobil to be raking in obscene profits while millions of Americans are struggling to pay skyrocketing gas and home heating oil prices. We owe it to the American people to do everything we can to stop big oil companies from ripping off American consumers.”    » read more »

02/01/2008 -- WASHINGTON, February 1– Boosted by gushing oil prices, Exxon Mobil's $40.6 billion in 2007 profits exceeded the company’s own record for a U.S. corporation. Chevron also reported huge profits. At a meeting in Vienna of the international oil cartel, meanwhile, the Organization of Petroleum Exporting Companies kept production quotas steady.    » read more »

02/02/2008 -- Washington, DC — Senator John Kerry made the following statement today as ExxonMobil, BP, Shell, ChevronTexaco and ConocoPhillips released their annual profits:

“Big Oil has raked in profits of over half a trillion dollars since George Bush took office, $40 billion for ExxonMobil alone this quarter, and Americans have been stuck with record gas prices, dependence on foreign oil, and global climate change that gets more serious by the day.    » read more »

February 1, 2008 -- Washington, DC — Nevada Senator Harry Reid made the following statement today in response to the release of annual profits from ExxonMobil, BP, Shell, ChevronTexaco and ConocoPhillips:    » read more »

January 31, 2008 -- OLYMPIA – Washington Attorney General Rob McKenna announced today that, as a result of outreach by Maryland Attorney General Doug Gansler and himself, 32 other states have joined Washington and Maryland in signing an amicus brief in a significant case involving the 1989 Exxon Valdez oil spill. The brief, authored by General Gansler’s office, was filed this week in U.S.    » read more »

State Supports $2.5 Billion Punitive Damages Award to Alaskans

Juneau, Alaska, January 29, 2008 - Alaska Governor Sarah Palin today announced that the State of Alaska has filed an amicus, or “friend of the court,” brief supporting the award of punitive damages against Exxon Mobil stemming from the 1989 Exxon Valdez oil spill.    » read more »

January 28, 2008 -- OLYMPIA – Washington Attorney General Rob McKenna announced today that Washington will sign on to an amicus brief to support the commercial fishermen, seafood processors, tribes and others whose lives were impacted by the 1989 Exxon Valdez oil spill.    » read more »

November 5, 2007, Juneau, Alaska - Alaska Governor Sarah Palin today confirmed her direction last week to Attorney General Talis Colberg to begin work on the state’s response to the U.S. Supreme Court’s decision to hear the Exxon case.

Last Monday when the U.S. Supreme Court decided to hear Exxon Mobil’s appeal of the $2.5 billion damages award from the 1989 Exxon Valdez oil spill in Prince William Sound, Governor Palin conferred with Colberg about filing an amicus brief and a decision was made to go forward.    » read more »

29 October 2007 -- The U.S. Supreme Court will decide whether Exxon Mobil Corporation must pay massive punitive damages for the 1989 Exxon Valdez oil spill off the coast of Alaska.

The high court agreed Monday to review a federal appeals court ruling that Exxon Mobil must pay $2.5 billion in punitive damages. The figure is half that originally awarded by a federal jury in Alaska in 1994.    » read more »