Exxon Says Efficiency May Lower Oil Price

Not logged in [Log In] [Sign Up] [Points Leaders] [My Profile]

Monday, October 06, 2008 8:13:45 PM

Featured Sponsor

Save 5% on gas All gas purchases get a 5% rebate with the Discover Card* Click here for more info


Add gas prices to your web site. Click here to find out how!

GasBuddy News Article

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.
Visit Bloomberg for full article

Message Forum - Read Message

Category: Daily News Article Discussions > Topics		Add to favorite topics Post New Topic
Rate this topic: Low 1 - 2 - 3 - 4 - 5 High Avg rating: 2.3 (3 votes)

Author	Topic: Exxon Says Efficiency May Lower Oil Price	Post a Reply Back to Topics

JT Moderator	Message Posted: 7/20/2008 5:33:33 AM	Ignore JT Report Abuse
	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

REPLIES (newest first)

First

Next Last

SHEP20715 All-Star Author Maryland Posts:797 Points:141,505 Joined:Nov 2007	Message Posted: 7/23/2008 10:10:47 PM	Ignore SHEP20715 Report Abuse
	conserve
POLELANE Champion Author Ohio Posts:1,866 Points:193,700 Joined:Mar 2008	Message Posted: 7/23/2008 12:30:31 PM	Ignore POLELANE Report Abuse
	efficiency of what ??
ItsMorph Champion Author Grand Rapids Posts:21,430 Points:1,525,050 Joined:Mar 2004	Message Posted: 7/23/2008 9:46:37 AM	Ignore ItsMorph Report Abuse
	Nice.
SONICBLU Sophomore Author Delaware Posts:105 Points:40,290 Joined:Mar 2006	Message Posted: 7/23/2008 8:54:48 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:56 Points:72,140 Joined:May 2008	Message Posted: 7/23/2008 6:36:24 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:890 Points:118,880 Joined:Apr 2007	Message Posted: 7/22/2008 8:21:50 AM	Ignore Pede Report Abuse
	That makes every one get new cars with better mpg.
hangupanddrive All-Star Author Michigan Posts:602 Points:895,085 Joined:Aug 2005	Message Posted: 7/22/2008 8:06:25 AM	Ignore hangupanddrive Report Abuse
	No kidding.
KrazyDawg Champion Author California Posts:1,636 Points:276,050 Joined:Aug 2007	Message Posted: 7/22/2008 7:57:14 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 Veteran Author Austin Posts:353 Points:380,655 Joined:Aug 2004	Message Posted: 7/22/2008 7:55:00 AM	Ignore krucker Report Abuse
	GEEZ........This is 2 days old!!!
sledman56 Veteran Author Madison Posts:287 Points:213,665 Joined:Jul 2007	Message Posted: 7/22/2008 7:51:42 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:4,258 Points:494,635 Joined:Sep 2005	Message Posted: 7/22/2008 7:48:53 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:250,460 Joined:Sep 2006	Message Posted: 7/22/2008 7:47:00 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 7:46:42 AM	Ignore Dustinthewind Report Abuse
	Driving less by combining trips
laddyboy62 Champion Author Riverside Posts:1,355 Points:949,860 Joined:Mar 2005	Message Posted: 7/22/2008 7:42:54 AM	Ignore laddyboy62 Report Abuse
	driving less
Don20 Champion Author Oklahoma City Posts:1,302 Points:970,330 Joined:Mar 2005	Message Posted: 7/22/2008 7:39:38 AM	Ignore Don20 Report Abuse
	No public transportation in this area.. Your vehicle is your transportation.
Gerund1 All-Star Author Toronto Posts:982 Points:807,350 Joined:Apr 2003	Message Posted: 7/22/2008 7:38:53 AM	Ignore Gerund1 Report Abuse
	Yep, it's always the consumers fault.
z1000 All-Star Author Indianapolis Posts:954 Points:153,845 Joined:May 2007	Message Posted: 7/22/2008 7:38:45 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:696 Points:607,705 Joined:Sep 2003	Message Posted: 7/22/2008 7:37:54 AM	Ignore acknot Report Abuse
	Trying to shift attention away from record profits.
platypus1926 Rookie Author Georgia Posts:99 Points:175,180 Joined:Mar 2007	Message Posted: 7/22/2008 7:36:54 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:890 Points:118,880 Joined:Apr 2007	Message Posted: 7/22/2008 7:35:30 AM	Ignore Pede Report Abuse
	about time
JB1881 Champion Author New Mexico Posts:1,433 Points:358,085 Joined:Aug 2007	Message Posted: 7/22/2008 7:35:17 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:6,781 Points:1,662,240 Joined:May 2001	Message Posted: 7/22/2008 7:30:02 AM	Ignore letmathe Report Abuse
	glazarides makes good points below.
rbrowdersr All-Star Author Detroit Posts:737 Points:426,015 Joined:Aug 2006	Message Posted: 7/22/2008 7:29:43 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 7:27:19 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:6,609 Points:1,549,785 Joined:Mar 2004	Message Posted: 7/22/2008 7:26:57 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:481 Points:350,665 Joined:Jul 2006	Message Posted: 7/22/2008 7:24:18 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:687 Points:224,235 Joined:May 2004	Message Posted: 7/22/2008 7:22:05 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:8,685 Points:674,635 Joined:Aug 2006	Message Posted: 7/22/2008 7:21:51 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:628 Points:112,690 Joined:May 2008	Message Posted: 7/22/2008 7:21:16 AM	Ignore Parif Report Abuse
	Exxon will lower no gas prices they are greeeddddyy
MitchelSdReview Veteran Author South Dakota Posts:492 Points:95,535 Joined:Jun 2008	Message Posted: 7/22/2008 7:20:56 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:481 Points:350,665 Joined:Jul 2006	Message Posted: 7/22/2008 7:17:58 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:165,865 Joined:Sep 2007	Message Posted: 7/22/2008 7:17:55 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:1,584 Points:446,450 Joined:Jun 2007	Message Posted: 7/22/2008 7:17:23 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:726 Points:30,045 Joined:Dec 2005	Message Posted: 7/22/2008 7:17:14 AM	Ignore maindrag Report Abuse
	if this happens, i'll eat my vegtables.
eaglev All-Star Author Oklahoma City Posts:758 Points:288,645 Joined:Jul 2005	Message Posted: 7/22/2008 7:16:34 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:602 Points:727,400 Joined:May 2006	Message Posted: 7/22/2008 7:16:22 AM	Ignore HEBster Report Abuse
	Whatever!
Mr.Dirt Champion Author Albany Posts:1,755 Points:1,225,280 Joined:Mar 2004	Message Posted: 7/22/2008 7:16:21 AM	Ignore Mr.Dirt Report Abuse
	that is for sure
crbTX Sophomore Author Houston Posts:145 Points:29,205 Joined:Mar 2008	Message Posted: 7/22/2008 7:14:30 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:2,916 Points:795,515 Joined:Mar 2004	Message Posted: 7/22/2008 7:11:44 AM	Ignore tobasco Report Abuse
	Riiiiight
MG_Sputnik All-Star Author Philadelphia Posts:540 Points:410,380 Joined:Apr 2006	Message Posted: 7/22/2008 7:09:15 AM	Ignore MG_Sputnik Report Abuse
	Like they really want to sell less gas. Sheeesh!
MedicKirk1 Sophomore Author New Hampshire Posts:141 Points:95,565 Joined:May 2008	Message Posted: 7/22/2008 7:09:03 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:7,856 Points:1,686,185 Joined:May 2002	Message Posted: 7/22/2008 7:07:40 AM	Ignore Chazzer Report Abuse
	What do they know!
Barnkitty Sophomore Author Michigan Posts:171 Points:621,470 Joined:Mar 2004	Message Posted: 7/22/2008 7:07:16 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:143,440 Joined:Apr 2004	Message Posted: 7/22/2008 7:06:25 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 7:06:09 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:1,378 Points:818,980 Joined:Aug 2005	Message Posted: 7/22/2008 7:06:03 AM	Ignore my3sons Report Abuse
	exxon has made record profits--turn back some of that to lower prices!!
kevski Champion Author Oregon Posts:1,145 Points:157,190 Joined:Feb 2008	Message Posted: 7/22/2008 7:02:11 AM	Ignore kevski Report Abuse
	well then rex...why don't you do something
emosley007 Veteran Author Raleigh Posts:394 Points:34,780 Joined:Jun 2008	Message Posted: 7/22/2008 7:00:03 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:1,738 Points:1,128,950 Joined:Apr 2005	Message Posted: 7/22/2008 6:58:42 AM	Ignore bug27 Report Abuse
	Efficiency, Conservation, new alternative sources and, in the meantime, drill, drill, drill!
RochBear Champion Author Minnesota Posts:1,540 Points:465,525 Joined:May 2006	Message Posted: 7/22/2008 6:58:03 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.