Exxon Says Efficiency May Lower Oil Price

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Exxon Says Efficiency May Lower Oil Price Sunday, July 20, 2008
Bloomberg -- July 19 (Bloomberg) -- Exxon Mobil Corp. Chief Executive Rex Tillerson said Americans should focus on efficiency to bring down oil and gasoline prices in the short term, according to an interview in The New York Times today. ``We're already seeing people responding that way, by using mass transportation and economizing trips they take,'' said Tillerson, who heads the world's largest oil company, based in Irving, Texas. In the longer term, Tillerson said, production must be expanded because conservation and alternative energy sources alone won't bring prices down.
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	Sunday, July 20, 2008 Bloomberg -- July 19 (Bloomberg) -- Exxon Mobil Corp. Chief Executive Rex Tillerson said Americans should focus on efficiency to bring down oil and gasoline prices in the short term, according to an interview in The New York Times today. ``We're already seeing people responding that way, by using mass transportation and economizing trips they take,'' said Tillerson, who heads the world's largest oil company, based in Irving, Texas. In the longer term, Tillerson said, production must be expanded because conservation and alternative energy sources alone won't bring prices down. Visit Bloomberg for full article

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SHEP20715 Champion Author Maryland Posts:1,026 Points:186,935 Joined:Nov 2007	Message Posted: 7/24/2008 2:10:47 AM	Ignore SHEP20715 Report Abuse
	conserve
POLELANE Champion Author Ohio Posts:2,245 Points:238,975 Joined:Mar 2008	Message Posted: 7/23/2008 4:30:31 PM	Ignore POLELANE Report Abuse
	efficiency of what ??
ItsMorph Champion Author Grand Rapids Posts:21,910 Points:1,569,605 Joined:Mar 2004	Message Posted: 7/23/2008 1:46:37 PM	Ignore ItsMorph Report Abuse
	Nice.
SONICBLU Sophomore Author Delaware Posts:107 Points:64,430 Joined:Mar 2006	Message Posted: 7/23/2008 12:54:48 PM	Ignore SONICBLU Report Abuse
	WELL, I SOLD MY EXXON STOCK AT $88. A FEW WEEKS AGO & BOUGHT A HONDA CIVIC HYBRID.
s3martin Sophomore Author Des Moines Posts:117 Points:104,685 Joined:May 2008	Message Posted: 7/23/2008 10:36:24 AM	Ignore s3martin Report Abuse
	Its not always easy to save fuel, always things to places to go.
Pede Champion Author New Jersey Posts:1,094 Points:147,230 Joined:Apr 2007	Message Posted: 7/22/2008 12:21:50 PM	Ignore Pede Report Abuse
	That makes every one get new cars with better mpg.
hangupanddrive All-Star Author Michigan Posts:705 Points:915,960 Joined:Aug 2005	Message Posted: 7/22/2008 12:06:25 PM	Ignore hangupanddrive Report Abuse
	No kidding.
KrazyDawg Champion Author California Posts:1,802 Points:304,620 Joined:Aug 2007	Message Posted: 7/22/2008 11:57:14 AM	Ignore KrazyDawg Report Abuse
	If you're not getting at least the EPA based on the old ratings, you're contributing to higher gas prices. It's not rocket science.
krucker All-Star Author Austin Posts:564 Points:422,005 Joined:Aug 2004	Message Posted: 7/22/2008 11:55:00 AM	Ignore krucker Report Abuse
	GEEZ........This is 2 days old!!!
sledman56 Veteran Author Madison Posts:287 Points:239,640 Joined:Jul 2007	Message Posted: 7/22/2008 11:51:42 AM	Ignore sledman56 Report Abuse
	That will be the day...just because the efficiency on cars is getting better I don't see the price going down because the oil companies will still want to make the high profits so prices still will go up.
RCinNM Champion Author New Mexico Posts:4,492 Points:539,810 Joined:Sep 2005	Message Posted: 7/22/2008 11:48:53 AM	Ignore RCinNM Report Abuse
	I live in the country, so I either have a neighbor pick up a few things for me or vice versa. If I do drive to town (38 miles away), it's never for one thing. I combine errands. Can't afford to do it any other way.
NMRA Rookie Author Twin Cities Posts:8 Points:257,005 Joined:Sep 2006	Message Posted: 7/22/2008 11:47:00 AM	Ignore NMRA Report Abuse
	I wonder how Mr Tillerson is handling the high cost of gas, do you think he drives less and uses mass transportation or is this just the advice he gives to the peons?
Dustinthewind Sophomore Author Atlanta Posts:174 Points:52,870 Joined:Jan 2008	Message Posted: 7/22/2008 11:46:42 AM	Ignore Dustinthewind Report Abuse
	Driving less by combining trips
laddyboy62 Champion Author Riverside Posts:1,586 Points:995,310 Joined:Mar 2005	Message Posted: 7/22/2008 11:42:54 AM	Ignore laddyboy62 Report Abuse
	driving less
Don20 Champion Author Oklahoma City Posts:1,530 Points:1,014,745 Joined:Mar 2005	Message Posted: 7/22/2008 11:39:38 AM	Ignore Don20 Report Abuse
	No public transportation in this area.. Your vehicle is your transportation.
Gerund1 Champion Author Toronto Posts:1,147 Points:828,105 Joined:Apr 2003	Message Posted: 7/22/2008 11:38:53 AM	Ignore Gerund1 Report Abuse
	Yep, it's always the consumers fault.
z1000 Champion Author Indianapolis Posts:1,255 Points:187,720 Joined:May 2007	Message Posted: 7/22/2008 11:38:45 AM	Ignore z1000 Report Abuse
	Just crash a couple oil tankers, Exxon, then you'll see supply go down and price go up.
acknot All-Star Author Seattle Posts:877 Points:643,550 Joined:Sep 2003	Message Posted: 7/22/2008 11:37:54 AM	Ignore acknot Report Abuse
	Trying to shift attention away from record profits.
platypus1926 Sophomore Author Georgia Posts:174 Points:212,990 Joined:Mar 2007	Message Posted: 7/22/2008 11:36:54 AM	Ignore platypus1926 Report Abuse
	And your company has made sooooooo much money and has made a LARGE profit....why don't you "spread the wealth" by giving 'treats' for Americans who have HAD to make other alternatives for travel!!!
Pede Champion Author New Jersey Posts:1,094 Points:147,230 Joined:Apr 2007	Message Posted: 7/22/2008 11:35:30 AM	Ignore Pede Report Abuse
	about time
JB1881 Champion Author New Mexico Posts:1,679 Points:403,535 Joined:Aug 2007	Message Posted: 7/22/2008 11:35:17 AM	Ignore JB1881 Report Abuse
	I'll use a Demacratic line, well kind of, WE CAN'T CONSERVE OUR WAY OUT OF THIS CRISIS!"
letmathe Champion Author Chicago Posts:6,978 Points:1,701,505 Joined:May 2001	Message Posted: 7/22/2008 11:30:02 AM	Ignore letmathe Report Abuse
	glazarides makes good points below.
rbrowdersr All-Star Author Detroit Posts:955 Points:467,975 Joined:Aug 2006	Message Posted: 7/22/2008 11:29:43 AM	Ignore rbrowdersr Report Abuse
	They will remain inefficient.
McNasties Champion Author Wisconsin Posts:3,920 Points:749,625 Joined:May 2006	Message Posted: 7/22/2008 11:27:19 AM	Ignore McNasties Report Abuse
	production must be expanded because (longterm) conservation and alternative energy sources alone won't bring prices down But ALGORE, Poorlosi and Omama wants to return the planet back to the 6th century
courier400 Champion Author Kansas Posts:6,836 Points:1,594,260 Joined:Mar 2004	Message Posted: 7/22/2008 11:26:57 AM	Ignore courier400 Report Abuse
	They hang out the carrot, but we know once we eat it, here comes the saddle and spurs.
glazarides All-Star Author Akron Posts:556 Points:368,040 Joined:Jul 2006	Message Posted: 7/22/2008 11:24:18 AM	Ignore glazarides Report Abuse
	MitchelSdReview: Then why do they lease it, they are in the business to make money, not spend hundreds of millions to lease areas they never will drill on. There's more to the story. HELLO
Wolfwings All-Star Author Delaware Posts:843 Points:251,365 Joined:May 2004	Message Posted: 7/22/2008 11:22:05 AM	Ignore Wolfwings Report Abuse
	I'll take advice from the oil barons when I make as much as they do.
tomok Champion Author Portland Posts:9,640 Points:719,335 Joined:Aug 2006	Message Posted: 7/22/2008 11:21:51 AM	Ignore tomok Report Abuse
	Efficiency will not lower the price. Producing more alternative fuels from NON FOOD sources. ***Limit the import of OPEC oil and their world terrorism paid with oil money. Produce more renewable energy from solar, wind, tidal, thermal, hydro., etc. etc. etc. ***Support the grid and drive an electrical vehicle. Build more nuclear plants. Produce oil from the east and west coasts. Take the control of oil out of Exxon hands. Produce more goods and services in the US - quit importing from China, India, or other countries - just because its cheaper. There is too much money flowing out of this country for no reason.
Parif All-Star Author Virginia Posts:841 Points:151,425 Joined:May 2008	Message Posted: 7/22/2008 11:21:16 AM	Ignore Parif Report Abuse
	Exxon will lower no gas prices they are greeeddddyy
MitchelSdReview All-Star Author South Dakota Posts:509 Points:102,200 Joined:Jun 2008	Message Posted: 7/22/2008 11:20:56 AM	Ignore MitchelSdReview Report Abuse
	Glaz, They are under a use it or lose it section. They are not allowed to drill off shore. Just becasue oil companies have a section of land does not mean there is oil there. HELLO
glazarides All-Star Author Akron Posts:556 Points:368,040 Joined:Jul 2006	Message Posted: 7/22/2008 11:17:58 AM	Ignore glazarides Report Abuse
	The oil companies should drill where they have leased in the Gulf of Mexico, not just sit on the leases to keep others from drilling. They say they don't have enough drilling rigs or personnel to drill in the Gulf, then why do they want to drill in the Atlantic and Pacific?!? It's a bunch of B.S. Also take oil off of the futures market, the speculators caused 60% of the price we pay at the pump. That would lower the price of oil!
Japsmith All-Star Author Tacoma Posts:910 Points:169,620 Joined:Sep 2007	Message Posted: 7/22/2008 11:17:55 AM	Ignore Japsmith Report Abuse
	It does not matter what he says, because big oil already has everybody by the purse strings.
FastAndy Champion Author Indianapolis Posts:1,821 Points:491,900 Joined:Jun 2007	Message Posted: 7/22/2008 11:17:23 AM	Ignore FastAndy Report Abuse
	For those that rant about Wal-mart importing, why is it that you allow our government making us import oil rather than drilling for our own here. Some more people should be ranting tword congress to get them to allow drilling and exploring here, and stop exporting our money to our enemies.
maindrag All-Star Author Ontario Posts:796 Points:34,715 Joined:Dec 2005	Message Posted: 7/22/2008 11:17:14 AM	Ignore maindrag Report Abuse
	if this happens, i'll eat my vegtables.
eaglev All-Star Author Oklahoma City Posts:978 Points:332,145 Joined:Jul 2005	Message Posted: 7/22/2008 11:16:34 AM	Ignore eaglev Report Abuse
	MedicKirk1 The only reason it looks like we are nearing the end is because our own govenment will not allow us to drill were we know the reserves are. WE NEED TO TELL CONGRESS TO DRILL HERE, DRILL NOW BUILD NOW.
HEBster All-Star Author Kentucky Posts:826 Points:771,855 Joined:May 2006	Message Posted: 7/22/2008 11:16:22 AM	Ignore HEBster Report Abuse
	Whatever!
Mr.Dirt Champion Author Albany Posts:1,964 Points:1,267,660 Joined:Mar 2004	Message Posted: 7/22/2008 11:16:21 AM	Ignore Mr.Dirt Report Abuse
	that is for sure
crbTX Sophomore Author Houston Posts:176 Points:41,000 Joined:Mar 2008	Message Posted: 7/22/2008 11:14:30 AM	Ignore crbTX Report Abuse
	Why would he want lower prices? He would make less money in his own pocket.
tobasco Champion Author Los Angeles Posts:3,117 Points:834,195 Joined:Mar 2004	Message Posted: 7/22/2008 11:11:44 AM	Ignore tobasco Report Abuse
	Riiiiight
MG_Sputnik All-Star Author Philadelphia Posts:640 Points:443,505 Joined:Apr 2006	Message Posted: 7/22/2008 11:09:15 AM	Ignore MG_Sputnik Report Abuse
	Like they really want to sell less gas. Sheeesh!
MedicKirk1 Sophomore Author New Hampshire Posts:187 Points:118,085 Joined:May 2008	Message Posted: 7/22/2008 11:09:03 AM	Ignore MedicKirk1 Report Abuse
	What we TRULY need to do is focus on developing alternative energy sources because fossil fuels is nearing its end.
Chazzer Champion Author Nevada Posts:8,091 Points:1,731,635 Joined:May 2002	Message Posted: 7/22/2008 11:07:40 AM	Ignore Chazzer Report Abuse
	What do they know!
Barnkitty Sophomore Author Michigan Posts:179 Points:637,280 Joined:Mar 2004	Message Posted: 7/22/2008 11:07:16 AM	Ignore Barnkitty Report Abuse
	If you want an anti-buy in China rant, why pick on just Wal-Mart? Go to any major or discount retailer and look at the back of the boxes... Might as well boycott them all. But, is it entirely the retailers' fault that so many manufacturers have so many good that are made in China? Retailers are just the middle-men, after all... Maybe if we stop buying so much junk we don't need, there will be more dollars in our pockets, less money rewarding manufacturers outsourcing, and less garage sales. (and that includes toys for the kiddies made by Mattel-remember their recalls of china made proucts?)
GaryDavis77 Sophomore Author Washington Posts:183 Points:148,115 Joined:Apr 2004	Message Posted: 7/22/2008 11:06:25 AM	Ignore GaryDavis77 Report Abuse
	Efficiency is not the answer.
RickPenn Rookie Author Texas Posts:20 Points:51,580 Joined:Jun 2008	Message Posted: 7/22/2008 11:06:09 AM	Ignore RickPenn Report Abuse
	Not much help for those already being as fuel efficient as they can be.
my3sons Champion Author New York Posts:1,585 Points:855,820 Joined:Aug 2005	Message Posted: 7/22/2008 11:06:03 AM	Ignore my3sons Report Abuse
	exxon has made record profits--turn back some of that to lower prices!!
kevski Champion Author Oregon Posts:1,403 Points:198,340 Joined:Feb 2008	Message Posted: 7/22/2008 11:02:11 AM	Ignore kevski Report Abuse
	well then rex...why don't you do something
emosley007 All-Star Author Raleigh Posts:643 Points:58,275 Joined:Jun 2008	Message Posted: 7/22/2008 11:00:03 AM	Ignore emosley007 Report Abuse
	efficiency may lower price just the title alone you can comment on. if efficiency lowers price why has it not gone down yet. everyone is advertising fuel efficiency from cars to houses.
bug27 Champion Author Kentucky Posts:1,969 Points:1,174,400 Joined:Apr 2005	Message Posted: 7/22/2008 10:58:42 AM	Ignore bug27 Report Abuse
	Efficiency, Conservation, new alternative sources and, in the meantime, drill, drill, drill!
RochBear Champion Author Minnesota Posts:1,758 Points:505,580 Joined:May 2006	Message Posted: 7/22/2008 10:58:03 AM	Ignore RochBear Report Abuse
	Kingdick, although we have butted heads in the past (over ethonal), I agree with most of what you are saying, and although you don't back up your rant with many facts, economically you are correct. When we buy foriegn goods, we increase the trade deficit. Oil is traded in US Dollars, and thus buying foreign made items causes the value of the dollar to fall, and thus increases our cost of oil. You are also correct in the fact that every day more and more Chinesse works goto work in a factory, and do less subsistance farming. They are becoming "westernized", and pretty soon this worker will want to buy a car, and thus increase the world demand for oil. Additionally, the shipping cost to import stuff from China is HUGE. The boats use a LOT of fuel, but not nearly as much as the trucks do, transporting the goods over the federal interstate highway system. I still buy a few things at walmart (actually at Sam's club) But these are things which are made in the USA. Things like MILK, which is cheaper there, than at the grocery store. HOwever, there are many things which we all buy which are NOT made in the USA. TVs for example. You might buy a Sharp, or an RCA, but they are ALL made in the far east. There hasn't been a USA made TV set in decades. It's a shame this country has lost so much of it's manufacturing capacity. Maybe the high shipping costs will bring some of these jobs back home.