Oil CEOs See Massive Bonuses amid Record Profits

The pay packages for the chief executives of British oil giants BP and Shell skyrocketed in 2022 after the oil titans posted record profits off the back of high gas prices last year, Reuters reported Friday.

The salary of BP CEO Bernard Looney climbed to roughly £1.3 million, while performance-related bonuses and stock awards climbed to £10.03 million, to a total of £11.33 million in compensation, more than two and a half times the £4.46 million he earned in 2021, the company announced Friday. BP —which lagged behind its American competitors in 2022 despite a record profit of roughly $28 billion — has drawn criticism from activists for cutting its green investments and reinvesting in gas and oil, Reuters reported.

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Teachers Get Raises, Bonuses From Federal COVID Relief Funds Meant to Reopen Schools Safely

This week’s Golden Horseshoe once again goes to the U.S. Department of Education for allowing school districts to use pandemic relief funds for pay raises and bonuses for teachers despite the funds being appropriated to reopen schools safely.

Schools nationwide received $190 billion through three relief packages passed. Of that total, the largest sum, $122 billion, was from President Biden’s American Rescue Plan.

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