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ExxonMobil CEO on Today
Rex Tillerson sat stolidly as Matt Lauer peppered him with purposefully naive questions about why Big Oil was profiting so much while drivers were suffering, etc. He responded with the usual points that on a percentage basis they were only in the middle of the pack, that they had heavy exploration costs, etc. What I found most notable was that Tillerson admitted that the current oil prices were demand-driven, citing the rise of a petrol-thirsty middle class in China and India. Unlike prominent Saudi oil minister al Naimi, and a host of other industry experts, he didn't claim that speculation was driving the price of oil.
Tillerson also broadly suggested that allowing the oil majors to explore more areas would bring more oil to the pumps - no doubt a reference to ANWR and exploring the US coastline.
Comments (1)
Video here:
http://www.msnbc.msn.com/id/21134540/vp/24644039#24644039
Also, an almost identical May 3rd interview of Tillerson by Lauer:
http://newsbusters.org/node/5198
Where are the formatting tools when you need them?
May 15, 2008 9:19 AM | Reply | Permalink
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