Why Exxon Won't Produce More
Even with prices at the pump near all-time highs, ExxonMobil isn't projecting increased oil production. Here's why
Texas-based Exxon is the largest publicly traded company in the energy business. In fact, it's the most profitable company in the history of capitalism, earning a record $40.6 billion on sales of $404 billion last year. Yet even with prices at the pump near all-time highs, Exxon isn't planning on producing any more oil four years from now than it did last year. That means the company's oil output won't even keep pace with its own projections of worldwide ... Full Story »
Posted by Dwight Rousu
