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Rex W. Tillerson (wife: Renda R.)
624 DOVE CREEK RD
BARTONVILLE , TX 76226-6397
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The HIGH cost of really BIG businesses.

The Exxon Mobil Corporation, more commonly known as ExxonMobil, is an oil and gas corporation in the United States. The Exxon Mobil headquarters is located in Irving, Texas. ExxonMobil markets itself around the world under the brands of Exxon, Mobil, and Esso. It also owns hundreds of smaller subsidiaries, and SeaRiver Maritime, a petroleum shipping company. At the end of 1999, the company was formed by the merger of Exxon and Mobil. Their daily production was nearly 4 billion BOE (barrels of oil equivalent) in 2008. However, this is only approximately 3% of world production. ExxonMobil has been accused by major scientific organizations of waging a misinformation campaign aiming to create uncertainty on the issue of global warming. Most of us know the real "inconvenient truth".

Both the Exxon and Mobil companies were direct descendants of John D. Rockefeller's Standard Oil company, which was established in 1870. The reputation of Standard Oil suffered badly after publication of Ida Tarbell's exposé The History of the Standard Oil Company. The book was a shining example of muckraking, an individual who seeks to expose or reveal corruption of businesses or government to the public. It eventually lead to an outcry for the government to take action against the company.

By 1911, the U.S. Supreme Court ruled that Standard Oil must be dissolved and split into 34 companies. Two of these companies were Jersey Standard ("Standard Oil Company of New Jersey"), which eventually became Exxon, and Socony ("Standard Oil Company of New York"), which eventually became Mobil.

Over the next several decades, both companies grew significantly. Jersey Standard became the largest oil producer in the world. In 1931, Socony merged with Vacuum Oil Co. In 1933, Jersey Standard and Socony-Vacuum merged their interests in the region into a 50-50 joint venture. Standard-Vacuum Oil Co., also known as "Stanvac," which eventually was dissolved in 1962.

Mobil Chemical Company was established in 1950. In 1955, Socony-Vacuum became Socony Mobil Oil Co. and in 1966 was just called Mobil Oil Corp. Ten years later, the newly formed Mobil Corporation absorbed Mobil Oil as a wholly owned subsidiary. In 1972, Jersey Standard changed its name to Exxon Corporation and established Exxon as a trademark in the United States. Outside the U.S., Exxon and its affiliates continued to use their Esso trademark.

Then in March of 1989, one the second worst oil spill in the history of the United States, took place. The Exxon Valdez oil tanker struck a reef in Alaska and spilled more than 11 million gallons of crude oil. This was about one third of the oil that was spilled in the Greenpoint Oil Spill in 1978. The Greenpoint Spill was caused by leaking tanks and pipelines, spillage and explosion in 1950 may have contributed to the presence of between 17 and 30 million gallons of oil in the ground. The petroleum was found when U.S. Coast Guard observed an oil slick in 1978. Cleanup begain in 1979 by ExxonMobil, and is still ongoing. Nine million gallons of petroleum have been removed, more than 8 million gallons of oil and byproducts are considered to remain underground. It is thought that more than 30 million gallons were lost in the disaster. After Valdez incident, Congress passed the Oil Pollution Act of 1990. The US Supreme Court reduced the initial award of $5 billion dollars to just over $500 million.

In 1998, Exxon and Mobil signed an agreement to merge and form a new company called Exxon Mobil Corporation. After the merger was complete, they company became the largest company on the planet. Though many economic forcasters wonder how much longer it will be before Walmart passes them. The merger of Exxon and Mobil was an interesting part of U.S. history because it reunited the two largest companies of John D. Rockefeller's Standard Oil trust, the company the government broke up, only to reunite it into an even larger company. It was also the largest merger in American history.

As Americans have been suffering at the pump with ridiculously high gas prices, ExxonMobil stock price has surged in tandem with rising oil prices. For 2005, it reported record profits of US $36 billion in annual income, up 42% from the previous year.

As Americans are struggling with supporting and feeding their families and survive in daily life, Mr. Rex Tillerson certainally has not felt the "PINCH AT THE PUMP". Rex W. Tillerson was born March 23, 1952, in Wichita Falls, Texas. He is an engineer and has been chairman and Chief Executive Officer (CEO) of Exxon Mobil Corporation since January 1, 2006. Recently, Tillerson re-established his authority during a shareholder meeting on May 28, 2008. The Rockefeller family sponsored a non-binding resolution to separate the CEO and chairman positions that Rex Tillerson holds in order to maintain a system of checks and balances. The Rockefeller family also wanted Exxon Mobil to invest more in alternative energy. The resolution did not obtain the necessary majority, and Tillerson held on to both job titles.

Source: Rex Tillerson Wikipedia

Source: Exxon Mobil Wikipedia