Payments to Stakeholders Rise
Although a claimant of net value added, payments to stakeholders--hired labor, net rent to nonoperators, and interest--do not generally track movements in it. Payments to stakeholders and net value added can even move in opposite directions, as occurred in 2011 and 2012. The year-to-year consistency in payments to stakeholders follows from the fact that stakeholders do not share the risk of equity holders. In 2013, payments to stakeholders are forecast to rise $4.8 billion (9.4 percent) and to constitute 31 percent of net value added, more than in 2012.