Sabrina Valle

HOUSTON, (Reuters) – Exxon Mobil Corp (NYSE: Chevron According to Securities filings, Corp (NYSE:), paid its chief executives over $22 million last year. This comes a day after U.S. lawmakers charged oil companies with price gouging during high gasoline prices.

Exxon’s CEO Darren Woods was paid $23.6 million last fiscal year. This is an increase of $15.6 million from 2020. The filing also showed that Woods received $3.1 million in cash bonuses.

According to Thursday’s filing, Michael Wirth, Chevron CEO, was paid $22.6 Million in 2021. This is down from $29,000,000 in 2020. Wirth also received $4.5 million in cash bonuses.

The heads of several of the largest publicly traded oil companies in the world were questioned by a group of U.S. Congressmen on Wednesday. They defended U.S. producers of oil from charges like price-gouging, saying that they add to production and that no single company determines the fuel price.

U.S. Representative Lori Trahan from Massachusetts said, “You are making multi-million dollars and your stock options are paying you handsomely. (while) telling the US Congress that your hands have been tied.” “Thus, millions are considering taking on a second or third job to help them make ends meet.

Woods stated Wednesday that Exxon’s dividends and profits from its shareholders benefit all families in the United States.

Wirth pointed out that his 2021 pay was lower than he had been paid in 2021. This is correcting Representative Nanette Barragan, Democrat from California over her claim that he was making more because of rising fuel costs.

According to As You Sow (a shareholder advocacy organization focused on ESG matters), proxy votes for executive pay became more frequent last year.