The mining industry’s financial experts, SNL Energy, has produced a report detailing the top pay rises for chiefs of energy and mining companies over the course of 2010. At a time when the finances of most of the world’s countries are under some level of strain, such information may lead to negative responses – particularly with the Deepwater Horizon disaster so fresh in the memory – although the energy industry is one of the strongest in any recession.

Our mining correspondent notes: “People will look at the pay rises and wonder if the person getting them has really justifiably earned the increase in their pay packet. One thing that may arise from the release of this information is customers of the companies concerned looking at the level of service they have received and giving some thought to whether that service merits a high level of remuneration.”

The top pay rises in the sector include a pay boost to Dominion Resources CEO Thomas Farrell II, whose pay went up by $4.5 million to nearly $15 million a year, while Westar Energy’s William B. Moore saw his pay go from just over a million dollars in 2009 to more than $5.2 million a year later – representing a near-400% increase in his financial compensation over twelve months.

Our correspondent concludes: “Compared to other countries, the USA is less angered by huge financial remuneration being given to executives, but in a year when the energy and mining industry has come in for some criticism, and when prices at the gas pumps are a continuing source of discontent among the American consumers, people will look at the numbers and at least pause.”