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Exxon's growing reliance on expensive oil

CNN -- Exxon Mobil outlined plans Thursday that rely heavily on oil from tough to reach places, extracting it from the depths of the ocean, the frozen Arctic and the tar sands in Canada's frozen tundra.

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Submitted Mar 15, 2010 By: Art48

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Amtrgas Champion Author Oakland Posts:2,551 Points:1,229,530 Joined:Dec 2007	Message Posted: Mar 15, 2010 11:13:25 PM Ignore Amtrgas Report Abuse This should be left until later.
ops3 Champion Author Cincinnati Posts:1,229 Points:737,025 Joined:Dec 2007	Message Posted: Mar 15, 2010 10:39:10 PM Ignore ops3 Report Abuse Why?
Art48 Champion Author Sacramento Posts:2,586 Points:96,255 Joined:Feb 2009	Message Posted: Mar 15, 2010 10:00:20 PM Ignore Art48 Report Abuse mandoid - "the left won't let them drill anywhere else - get.rid.of.the.left. vote them out!" You don't get it, do you? Look where they are drilling. All over the world. There just aren't any sizable easy finds left. Not in the US, in Canada in South America or in Mongolia. The "Really Big" finds here, if you were able to suck all the oil out in one day, wouldn't amount to what we burn up in a year. Face it, easy oil, plentiful oil is no longer. If there was easy plentiful oil in the US, why didn't they go after it when the Pubs were in power and the price of oil was much higher? [Edited by: Art48 at 3/15/2010 10:01:53 PM EST]
SpaceAce5 Veteran Author South Dakota Posts:300 Points:68,195 Joined:Feb 2010	Message Posted: Mar 15, 2010 8:23:59 PM Ignore SpaceAce5 Report Abuse get it from the hard places now, cant use it as an excuse to seriously jack up prices later
pgerassi Champion Author Milwaukee Posts:8,511 Points:1,664,925 Joined:Apr 2007	Message Posted: Mar 15, 2010 7:52:40 PM Ignore pgerassi Report Abuse Once free, most won't go back.
Robert44 Champion Author Columbus Posts:2,883 Points:944,235 Joined:Mar 2004	Message Posted: Mar 15, 2010 7:43:04 PM Ignore Robert44 Report Abuse HELL NO!!!!!!!!! THE ANSWER is Drill Baby Drill here in America!!!!
WilW Champion Author Atlanta Posts:9,859 Points:2,210,785 Joined:Aug 2004	Message Posted: Mar 15, 2010 7:39:25 PM Ignore WilW Report Abuse If "oil executives" harnessed "alternative energy" they would be "oil executives" no more. [Edited by: WilW at 3/15/2010 7:39:48 PM EST]
lembs All-Star Author San Francisco Posts:905 Points:861,350 Joined:May 2005	Message Posted: Mar 15, 2010 7:39:13 PM Ignore lembs Report Abuse now, why would exxon prefer more expensive oil? so they can come back and screw us?
Fencemaker Champion Author Pittsburgh Posts:3,064 Points:946,175 Joined:Sep 2006	Message Posted: Mar 15, 2010 7:38:13 PM Ignore Fencemaker Report Abuse Exxon is acting very short-sighted here.
raleightom All-Star Author Raleigh Posts:765 Points:215,710 Joined:Nov 2007	Message Posted: Mar 15, 2010 7:35:17 PM Ignore raleightom Report Abuse Somebody P L E A S E explain to the Oil Executives what ALTERNATIVE energy is !
dollarwatcher Champion Author Wisconsin Posts:5,555 Points:1,067,345 Joined:Mar 2007	Message Posted: Mar 15, 2010 7:33:25 PM Ignore dollarwatcher Report Abuse At least it's not from the middle east.
vegaland Champion Author Houston Posts:2,403 Points:501,795 Joined:May 2006	Message Posted: Mar 15, 2010 7:33:20 PM Ignore vegaland Report Abuse They're betting on high oil prices.
uptherefiners Champion Author Chicago Posts:3,313 Points:682,045 Joined:Jun 2006	Message Posted: Mar 15, 2010 7:30:26 PM Ignore uptherefiners Report Abuse guess Exxon's gearing up for the future
Bhmf4 Champion Author Alabama Posts:1,319 Points:841,105 Joined:Oct 2008	Message Posted: Mar 15, 2010 7:29:49 PM Ignore Bhmf4 Report Abuse Another reason to keep looking.
2granny Champion Author Michigan Posts:7,145 Points:998,425 Joined:Apr 2009	Message Posted: Mar 15, 2010 7:27:56 PM Ignore 2granny Report Abuse Looks like we will be paying at the pump for this sooner or later.
bbreff Champion Author Atlanta Posts:7,642 Points:2,127,990 Joined:Jun 2005	Message Posted: Mar 15, 2010 7:19:02 PM Ignore bbreff Report Abuse Another reason to raise prices.
hibsaw Champion Author Mississippi Posts:5,666 Points:1,213,990 Joined:Feb 2008	Message Posted: Mar 15, 2010 7:13:14 PM Ignore hibsaw Report Abuse We wouldn't have to rely on those hard to reach places so much if it weren't for the ultra liberal politians and the tree huggers.
camel1 Champion Author Minnesota Posts:6,045 Points:1,815,440 Joined:Jul 2006	Message Posted: Mar 15, 2010 7:12:05 PM Ignore camel1 Report Abuse Why waste money in these areas? Invest in renewable energy. The money spent developing oil in these remote areas would really help in developing renewable "clean" energy.
paoli8 Champion Author Philadelphia Posts:4,900 Points:1,377,410 Joined:Jul 2007	Message Posted: Mar 15, 2010 7:10:37 PM Ignore paoli8 Report Abuse Where is there cheep oil?
garman87 Champion Author Austin Posts:2,357 Points:1,942,175 Joined:Aug 2005	Message Posted: Mar 15, 2010 7:09:30 PM Ignore garman87 Report Abuse Hopefully, Exxon starts sooner rather than later.
aldog365 Champion Author Nashville Posts:3,140 Points:1,557,660 Joined:Aug 2005	Message Posted: Mar 15, 2010 7:04:29 PM Ignore aldog365 Report Abuse Aren't we already getting oil from these places?
mandoid Champion Author Colorado Springs Posts:5,037 Points:1,083,080 Joined:May 2008	Message Posted: Mar 15, 2010 7:02:42 PM Ignore mandoid Report Abuse the left won't let them drill anywhere else - get.rid.of.the.left. vote them out!
PathfinderSC Champion Author South Carolina Posts:7,165 Points:1,365,130 Joined:Mar 2008	Message Posted: Mar 15, 2010 6:54:05 PM Ignore PathfinderSC Report Abuse November is coming , Vote. Maybe we can get new people that will see the peoples point, If not they will be voted out. WE CAN DO THIS.
Z51Corvette Champion Author Austin Posts:6,156 Points:1,224,540 Joined:Jan 2008	Message Posted: Mar 15, 2010 6:53:31 PM Ignore Z51Corvette Report Abuse If they are able, then let them go for it... too many wimps out there, who want to do it the EASY way.
4warned Champion Author Michigan Posts:5,512 Points:1,739,140 Joined:Nov 2006	Message Posted: Mar 15, 2010 6:50:47 PM Ignore 4warned Report Abuse All you ever here is poor oil. Give us some alternative energy then they can belly ache all they want.
Romey08 Champion Author Virginia Posts:4,232 Points:1,024,250 Joined:Apr 2008	Message Posted: Mar 15, 2010 6:40:36 PM Ignore Romey08 Report Abuse I'm sure Exxon is still digging for a profit.
carefrey Champion Author Orlando Posts:3,352 Points:717,375 Joined:Sep 2009	Message Posted: Mar 15, 2010 6:40:08 PM Ignore carefrey Report Abuse Do they really think we are stupid? We know they just want to raise prices!
Art48 Champion Author Sacramento Posts:2,586 Points:96,255 Joined:Feb 2009	Message Posted: Mar 15, 2010 6:34:59 PM Ignore Art48 Report Abuse Hugo40 - "Exxon, like many companies plugged many wells years ago when the depth was too great to make a profit and now they want to unplug these same wells and pump crude from them while the prices are up." Ah, yes that would be far cheaper and more profitable than drilling new wells in deep water or in the polar regions where they can only work a few winter months out of the year or oil sands with require lots of energy to extract the oil. Yes, I'm sure they thought one through and decided plugging wells was the best way to go, NOT.
BobbyVA Champion Author Virginia Beach Posts:3,426 Points:746,965 Joined:Jul 2009	Message Posted: Mar 15, 2010 6:34:23 PM Ignore BobbyVA Report Abuse This excuse for relying heavily on oil from tough to reach places is because of the US Congress and there drilling restrictions.
MINER Champion Author Pittsburgh Posts:8,960 Points:2,585,815 Joined:Jul 2002	Message Posted: Mar 15, 2010 6:33:57 PM Ignore MINER Report Abuse Does anyone expect this idle chit chat will have any meaning to Exxon Co.
georgeo Champion Author California Posts:4,172 Points:178,915 Joined:May 2009	Message Posted: Mar 15, 2010 6:32:38 PM Ignore georgeo Report Abuse an excuse for a price rise? They aren't pumping all the oil they have drilled now.
jwduke1 Champion Author Iowa Posts:13,850 Points:2,722,690 Joined:Apr 2004	Message Posted: Mar 15, 2010 6:32:04 PM Ignore jwduke1 Report Abuse Who is paying for this?
fullauto Champion Author Reading Posts:3,307 Points:1,066,475 Joined:Apr 2008	Message Posted: Mar 15, 2010 6:26:58 PM Ignore fullauto Report Abuse energy funds!
wizzard1222 Champion Author St. Louis Posts:6,209 Points:1,832,040 Joined:Mar 2006	Message Posted: Mar 15, 2010 6:20:26 PM Ignore wizzard1222 Report Abuse Try Iraq ???
AtascaderoHound All-Star Author California Posts:558 Points:588,935 Joined:Oct 2006	Message Posted: Mar 15, 2010 6:19:09 PM Ignore AtascaderoHound Report Abuse When we get over this infatuation with an ever diminishing dirty resource we and our planet will all be the better for it!
rollma2 Champion Author Montreal Posts:1,181 Points:261,125 Joined:Jul 2009	Message Posted: Mar 15, 2010 6:16:35 PM Ignore rollma2 Report Abuse funny how prices don't go down...
Ken2OD Champion Author Grand Rapids Posts:6,673 Points:1,506,000 Joined:Dec 2005	Message Posted: Mar 15, 2010 6:09:37 PM Ignore Ken2OD Report Abuse I never knew that conventional means of drilling for oil were cheap. It's funny what a billion years can do. Today's trees will be tomorrow's oil.
pliskin Champion Author Syracuse Posts:4,363 Points:1,347,095 Joined:Apr 2005	Message Posted: Mar 15, 2010 6:01:57 PM Ignore pliskin Report Abuse Great idea, outlaw329., too bad Exxon doesn't seem to be the one catching on. They're one of the largest, if not the largest oil company in the world. They can push Congress to drill in the US but for some reason don't seem to be doing it. It's too bad we can't get a smaller company to drill here and drill now for less and have to rely on companies such as Exxon because of their size and influence on the market.
aarrrt Champion Author San Diego Posts:5,422 Points:1,211,190 Joined:May 2008	Message Posted: Mar 15, 2010 5:58:59 PM Ignore aarrrt Report Abuse That's give them a ready made excuse to raise their oil/gas prices. As others have said, why not use our own assets?
WIPACKERFAN Champion Author Chicago Posts:6,480 Points:1,383,835 Joined:Aug 2005	Message Posted: Mar 15, 2010 5:58:53 PM Ignore WIPACKERFAN Report Abuse That's their choice.
goldseeker Champion Author West Virginia Posts:16,291 Points:2,252,480 Joined:Sep 2005	Message Posted: Mar 15, 2010 5:58:39 PM Ignore goldseeker Report Abuse OK
Sneakers55 Champion Author Houston Posts:43,319 Points:1,711,030 Joined:Nov 2005	Message Posted: Mar 15, 2010 5:57:18 PM Ignore Sneakers55 Report Abuse Northernskys wrote: >and yet we have oil off the coast of FL that we are not allowed to touch. They like their oil-free beaches in Florida. I don't know exactly what's wrong with the beach in Galveston but (IMHO) water should not have that greenish-purple color.
TAT36 Champion Author Florida Posts:4,428 Points:844,420 Joined:Sep 2009	Message Posted: Mar 15, 2010 5:56:33 PM Ignore TAT36 Report Abuse Drill here for own oil would be far the best course. However when last this happened OPEC lowered oil prices so much it became unprofitable to drill in our own back yard. Not an easy fix we want to be independent but we also want the lowest price. Don't think we can have both.
outlaw329 Champion Author Austin Posts:5,279 Points:931,320 Joined:Aug 2008	Message Posted: Mar 15, 2010 5:55:45 PM Ignore outlaw329 Report Abuse Hey just thought of an idea. Maybe we could drill for oil here and not be so dependent on foreign oil. It is just an idea that might catch on one day.
Beboper Champion Author Virginia Posts:6,357 Points:1,695,815 Joined:Oct 2005	Message Posted: Mar 15, 2010 5:55:36 PM Ignore Beboper Report Abuse I think wat we are saying here is we found another way to raise gas prices
kbierley Champion Author Dayton Posts:9,931 Points:1,270,610 Joined:Nov 2003	Message Posted: Mar 15, 2010 5:49:00 PM Ignore kbierley Report Abuse Drill for more U.S. Oil, NOW! Can we do that?
NatureBoyKY Champion Author Kentucky Posts:2,646 Points:975,430 Joined:Jan 2008	Message Posted: Mar 15, 2010 5:47:58 PM Ignore NatureBoyKY Report Abuse That assumes a high price. The last time plans like this were made, oil plumeted and they were abandoned. This time speculators will get burned, prices will plumet and it will all stop again, unless China continues to actually grow with this price for oil.
Northernskys All-Star Author Dayton Posts:539 Points:354,490 Joined:Sep 2005	Message Posted: Mar 15, 2010 5:46:55 PM Ignore Northernskys Report Abuse and yet we have oil off the coast of FL that we are not allowed to touch.
signwiz Champion Author Indiana Posts:1,395 Points:1,349,080 Joined:Feb 2006	Message Posted: Mar 15, 2010 5:44:30 PM Ignore signwiz Report Abuse It won't just be Exxon.
djgunrunner Champion Author Salt Lake City Posts:7,583 Points:1,886,845 Joined:Apr 2005	Message Posted: Mar 15, 2010 5:43:23 PM Ignore djgunrunner Report Abuse Our country has places that are viable and the administration talks a good show but when the talk is over the show is over. Sort of like their dealings with Iran. The reasons for factory produced Natural Gas cars grows daily. Our country owns two factories. Nothing happens. We could cut oil dependence. Nothing happens. Instead they continue to waste money on stuff like Ethanol that has low performance and takes away food. What about Hydrogen. No, the government takes lobbyist payoffs and stymies it in favor of Ethanol. Hydrogen will never run out as long as we have water and a power source. The stations can be built anywhere and there is no need to transport it since the storage can be where it is manufactured. The cost of refineries can certainly be more than that of a Hydrogen plant and dispersal center. But no, someone is getting a better deal elsewhere however it is not the American people.