Public Citizen’s Report Exposes Fossil Fuel Industry Executives
By Katie Porter and Robert Weissman
A recent Public Citizen report detailed the extent to which the fossil fuel industry and its executives are grabbing as much cash as possible. Even as their companies falter — and as they impose huge liabilities on the public— Big Oil executives are coming out ahead.
The Public Citizen report found that of the fossil fuel companies that filed the 25 largest bankruptcy cases over the past three years, 76 of their executives received a combined $200 million in cash bonuses, retention payments and severance — an average payout of about $2.6 million per executive.
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