Exxon : Time for Iraq War Oil Profits Payout, page 1

The reality of US troops killing and dying for Iraqi oil hit US public consciousness hard on June 19, 2008, when it was announced that the occupied government of Iraq intended to award no-bid oil service contracts to ExxonMobil, Shell, BP, Chevron and Total.

Lee Raymond received roughly $400 million in compensation upon retiring from Exxon where he served as CEO from 1999 through 2005. Exxon has seen record profits as a result of skyrocketing energy prices, due in part to the ongoing fragility of energy supplies and the threat of further violence in the Middle East

Political cartoonist Jeff Danziger deftly captured the contradiction of great wealth being amassed by giant oil companies in the midst of great suffering in a drawing showing celebrating, self-indulgent oil executives riding on the backs of two US soldiers in Iraq. One soldier says to the other: "This is what they really mean by 'Mission Accomplished.'"

ExxonMobil has accumulated $163 billion in record profits in the five-year war period, not only because of the increase in oil prices but because of increased sales of petroleum products to the Pentagon, which amounted to $4.2 billion from 2003 to 2007. Shell and BP compete with ExxonMobil for leadership in Pentagon sales.