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 All-Star Author Maryland Posts:658 Points:113,805 Joined:Nov 2007	Message Posted: 7/24/2008 1:10:47 AM	Ignore SHEP20715 Report Abuse
	conserve
POLELANE Champion Author Ohio Posts:1,630 Points:165,050 Joined:Mar 2008	Message Posted: 7/23/2008 3:30:31 PM	Ignore POLELANE Report Abuse
	efficiency of what ??
ItsMorph Champion Author Grand Rapids Posts:21,128 Points:1,496,520 Joined:Mar 2004	Message Posted: 7/23/2008 12:46:37 PM	Ignore ItsMorph Report Abuse
	Nice.
SONICBLU Rookie Author Delaware Posts:99 Points:23,490 Joined:Mar 2006	Message Posted: 7/23/2008 11:54:48 AM	Ignore SONICBLU Report Abuse
	WELL, I SOLD MY EXXON STOCK AT $88. A FEW WEEKS AGO & BOUGHT A HONDA CIVIC HYBRID.
s3martin Rookie Author Des Moines Posts:42 Points:53,360 Joined:May 2008	Message Posted: 7/23/2008 9:36:24 AM	Ignore s3martin Report Abuse
	Its not always easy to save fuel, always things to places to go.
Pede All-Star Author New Jersey Posts:743 Points:97,745 Joined:Apr 2007	Message Posted: 7/22/2008 11:21:50 AM	Ignore Pede Report Abuse
	That makes every one get new cars with better mpg.
hangupanddrive Veteran Author Michigan Posts:461 Points:868,360 Joined:Aug 2005	Message Posted: 7/22/2008 11:06:25 AM	Ignore hangupanddrive Report Abuse
	No kidding.
KrazyDawg Champion Author California Posts:1,609 Points:267,975 Joined:Aug 2007	Message Posted: 7/22/2008 10:57:14 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 Sophomore Author Austin Posts:217 Points:353,830 Joined:Aug 2004	Message Posted: 7/22/2008 10:55:00 AM	Ignore krucker Report Abuse
	GEEZ........This is 2 days old!!!
sledman56 Veteran Author Madison Posts:287 Points:202,865 Joined:Jul 2007	Message Posted: 7/22/2008 10:51:42 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:4,113 Points:466,935 Joined:Sep 2005	Message Posted: 7/22/2008 10:48:53 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:7 Points:250,235 Joined:Sep 2006	Message Posted: 7/22/2008 10:47:00 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:52,520 Joined:Jan 2008	Message Posted: 7/22/2008 10:46:42 AM	Ignore Dustinthewind Report Abuse
	Driving less by combining trips
laddyboy62 Champion Author Riverside Posts:1,210 Points:921,185 Joined:Mar 2005	Message Posted: 7/22/2008 10:42:54 AM	Ignore laddyboy62 Report Abuse
	driving less
Don20 Champion Author Oklahoma City Posts:1,170 Points:941,955 Joined:Mar 2005	Message Posted: 7/22/2008 10:39:38 AM	Ignore Don20 Report Abuse
	No public transportation in this area.. Your vehicle is your transportation.
Gerund1 All-Star Author Toronto Posts:862 Points:793,320 Joined:Apr 2003	Message Posted: 7/22/2008 10:38:53 AM	Ignore Gerund1 Report Abuse
	Yep, it's always the consumers fault.
z1000 All-Star Author Indianapolis Posts:794 Points:137,380 Joined:May 2007	Message Posted: 7/22/2008 10:38:45 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:561 Points:578,905 Joined:Sep 2003	Message Posted: 7/22/2008 10:37:54 AM	Ignore acknot Report Abuse
	Trying to shift attention away from record profits.
platypus1926 Rookie Author Georgia Posts:51 Points:151,570 Joined:Mar 2007	Message Posted: 7/22/2008 10:36:54 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 All-Star Author New Jersey Posts:743 Points:97,745 Joined:Apr 2007	Message Posted: 7/22/2008 10:35:30 AM	Ignore Pede Report Abuse
	about time
JB1881 Champion Author New Mexico Posts:1,284 Points:330,385 Joined:Aug 2007	Message Posted: 7/22/2008 10:35:17 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:6,634 Points:1,634,510 Joined:May 2001	Message Posted: 7/22/2008 10:30:02 AM	Ignore letmathe Report Abuse
	glazarides makes good points below.
rbrowdersr All-Star Author Detroit Posts:593 Points:397,810 Joined:Aug 2006	Message Posted: 7/22/2008 10:29:43 AM	Ignore rbrowdersr Report Abuse
	They will remain inefficient.
McNasties Champion Author Milwaukee Posts:3,920 Points:749,625 Joined:May 2006	Message Posted: 7/22/2008 10:27:19 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:6,464 Points:1,521,110 Joined:Mar 2004	Message Posted: 7/22/2008 10:26:57 AM	Ignore courier400 Report Abuse
	They hang out the carrot, but we know once we eat it, here comes the saddle and spurs.
glazarides Veteran Author Akron Posts:426 Points:338,040 Joined:Jul 2006	Message Posted: 7/22/2008 10:24:18 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:607 Points:210,100 Joined:May 2004	Message Posted: 7/22/2008 10:22:05 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:8,110 Points:646,935 Joined:Aug 2006	Message Posted: 7/22/2008 10:21:51 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 Veteran Author Virginia Posts:488 Points:87,390 Joined:May 2008	Message Posted: 7/22/2008 10:21:16 AM	Ignore Parif Report Abuse
	Exxon will lower no gas prices they are greeeddddyy
MitchelSdReview Veteran Author South Dakota Posts:443 Points:83,505 Joined:Jun 2008	Message Posted: 7/22/2008 10:20:56 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 Veteran Author Akron Posts:426 Points:338,040 Joined:Jul 2006	Message Posted: 7/22/2008 10:17:58 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:874 Points:164,540 Joined:Sep 2007	Message Posted: 7/22/2008 10:17:55 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:1,442 Points:418,750 Joined:Jun 2007	Message Posted: 7/22/2008 10:17:23 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:653 Points:25,855 Joined:Dec 2005	Message Posted: 7/22/2008 10:17:14 AM	Ignore maindrag Report Abuse
	if this happens, i'll eat my vegtables.
eaglev All-Star Author Oklahoma City Posts:667 Points:270,695 Joined:Jul 2005	Message Posted: 7/22/2008 10:16:34 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 Veteran Author Kentucky Posts:452 Points:698,745 Joined:May 2006	Message Posted: 7/22/2008 10:16:22 AM	Ignore HEBster Report Abuse
	Whatever!
Mr.Dirt Champion Author Albany Posts:1,623 Points:1,201,130 Joined:Mar 2004	Message Posted: 7/22/2008 10:16:21 AM	Ignore Mr.Dirt Report Abuse
	that is for sure
crbTX Sophomore Author Houston Posts:121 Points:25,025 Joined:Mar 2008	Message Posted: 7/22/2008 10:14:30 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:2,798 Points:771,815 Joined:Mar 2004	Message Posted: 7/22/2008 10:11:44 AM	Ignore tobasco Report Abuse
	Riiiiight
MG_Sputnik Veteran Author Philadelphia Posts:476 Points:388,825 Joined:Apr 2006	Message Posted: 7/22/2008 10:09:15 AM	Ignore MG_Sputnik Report Abuse
	Like they really want to sell less gas. Sheeesh!
MedicKirk1 Sophomore Author New Hampshire Posts:101 Points:75,465 Joined:May 2008	Message Posted: 7/22/2008 10:09:03 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:7,717 Points:1,658,710 Joined:May 2002	Message Posted: 7/22/2008 10:07:40 AM	Ignore Chazzer Report Abuse
	What do they know!
Barnkitty Sophomore Author Michigan Posts:165 Points:607,025 Joined:Mar 2004	Message Posted: 7/22/2008 10:07:16 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:151 Points:128,400 Joined:Apr 2004	Message Posted: 7/22/2008 10:06:25 AM	Ignore GaryDavis77 Report Abuse
	Efficiency is not the answer.
RickPenn Rookie Author Fort Worth Posts:20 Points:51,580 Joined:Jun 2008	Message Posted: 7/22/2008 10:06:09 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:1,253 Points:794,855 Joined:Aug 2005	Message Posted: 7/22/2008 10:06:03 AM	Ignore my3sons Report Abuse
	exxon has made record profits--turn back some of that to lower prices!!
kevski All-Star Author Oregon Posts:985 Points:131,475 Joined:Feb 2008	Message Posted: 7/22/2008 10:02:11 AM	Ignore kevski Report Abuse
	well then rex...why don't you do something
emosley007 Veteran Author Raleigh Posts:277 Points:28,295 Joined:Jun 2008	Message Posted: 7/22/2008 10:00:03 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:1,603 Points:1,101,475 Joined:Apr 2005	Message Posted: 7/22/2008 9:58:42 AM	Ignore bug27 Report Abuse
	Efficiency, Conservation, new alternative sources and, in the meantime, drill, drill, drill!
RochBear Champion Author Minnesota Posts:1,382 Points:438,655 Joined:May 2006	Message Posted: 7/22/2008 9:58:03 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.