Our guest blogger is Kristen Bartoloni, Researcher for Progress Central.
On Friday, Transocean, the company that operated the infamous Deepwater Horizon oil rig, told its shareholders that it gave its executives multi-million-dollar bonuses based on the company’s “best year in safety performance.” Today, Interior Secretary Ken Salazar lashed out at the global offshore drilling company, which moved its official headquarters from Houston to Zug, Switzerland in 2008 in order to avoid paying taxes to the United States government. In a statement to ThinkProgress, Salazar criticized the company’s “complacency” about the explosion that killed 11 people, spewed 4.9 million barrels of oil into the Gulf of Mexico, and caused irreparable damage to Gulf communities:
At the end of the day, it was that complacency that created an oil spill that was pouring over 50 thousand barrels of oil into the Gulf of Mexico a day.
Using the justification of the company’s “exemplary statistical safety record,” Transocean’s executive compensation committee — GenOn Energy CEO Edward R. Muller, oil industry lawyer Martin B. McNamara, and retired Shell executive Robert Sprague — granted CEO Stewart Newman $6.3 million in bonus and “incentive compensation.”