EXXONMOBIL'S TILLERSON SEES FUTURE IN OIL-SHALE DEPOSITS, LNG AND ARCTIC GAS

Hart's Petroleum Finance Week, December, 2004

Very few outside of the industry understand how bleak the future of energy could become without a little cooperation. "In a sense, as an industry, we have become a victim of our own success," said Rex Tillerson, president, ExxonMobil Corp., (NYSE: XOM) at a recent IPAA/ Tipro meeting in Houston.

"We have made energy readily and easily available, so people just click on a light switch now and don't even think about it. If there's one challenge we have, it's making people understand the importance and the enormity of this issue."

The reality is that without energy growth, there can be no economic growth. "Economic growth requires reliable, affordable energy supplies," Tillerson said. "There is a misplaced view in our society of the role alternative energy sources...

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