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They'd rather sell for $200/barrel. Their plan to hold volume production flat is a good a reason as any to break up the company for the benefit of consumers. I
by moog 19y ago
They'd rather sell for $200/barrel. Their plan to hold volume production flat is a good a reason as any to break up the company for the benefit of consumers. I wouldn't let them near 'green' energy development either as their interests aren't served by viable alternatives to oil.
- nradov 19y agoThis is silly. First of all, ExxonMobil doesn't control "most" of the oil reserves; they have only a very small fraction. And if the US federal government forcibly broke the company into several pieces (like Bell Telephone) the resulting smaller companies would still have no greater incentive to increase production.
- noonespecial 19y agoI meant it as a critique of OPEC in general. They will control production to get the most money per barrel because when its gone, its gone. Exxon is the largest publicly traded energy company in the world (from tfa). They do better when prices stay high. While they may not be the biggest player in the whole oil game, they do play a significant role in oil's path to the end consumer. Lets just say they have a lot more to gain form $200/barrel oil than from $50/barrel oil and leave it at that.
- nradov 19y agoHuh? ExxonMobil is not a member of OPEC. What are you proposing they do differently?