“As oil prices reached a new all-time high today of $130 a barrel for light sweet crude, and executives from the top 5 oil companies come to Congress for a second time this year, a new report details decisions by the big five oil companies to use record-breaking corporate profits to boost executive compensation and prop up their stock price with rich stock buy-backs instead of investing in renewable technologies to end America’s addition to oil…The report, produced by the House Select Committee on Energy Independence and Global Warming, found that even as American consumers suffer declines in real income and purchasing power, executive pay and shareholder dividends in the oil industry have far outpaced investment in new oil discoveries or alternative energy. The committee looked at executive pay and stock purchases at ExxonMobil, British Petroleum, Shell, ConocoPhillips, and Chevron, which combined made $123 billion last year.”