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Posts tagged “XOM”

By Robert Rapier on Aug 1, 2011 with 114 responses

‘Tis the Season for Oil Company Misinformation

In my travels around the globe, I have never been to another country that regards their oil companies as we do here in the U.S. I have actually been in countries where people view their domestic oil companies as a source of national pride. Here in the U.S., the average person on the street views our oil companies as vile, greedy parasites on taxpayers that should be tarred, feathered, and run right out of the country. While this belief is commonly held among Democrats, even staunch Conservatives like Bill O’Reilly have gone on anti-oil company rants, while offering suggestions like “American oil companies must supply the federal government with a written explanation every time they raise the price of gas… Continue»

By Robert Rapier on May 11, 2011 with 52 responses

Getting to the Bottom of ExxonMobil’s Taxes

As I noted in a previous essay, rising gas prices inevitably mean that our political leaders start looking to assign blame. The annual ritual has been to call the CEOs of the biggest oil companies in the U.S. to Washington so politicians can engage in a bit of political theater. The 2011 dog and pony show has now been scheduled: Oil-industry CEOs to get grilled by Congress At a Senate hearing, the CEOs will be pressed to explain why gasoline prices are so high — they average nearly $4 in most places and have topped $5 a gallon in few cities. Democrats are also planning to pressure the companies to renounce long-standing government subsidies totaling billions of dollars a year…. Continue»

By Robert Rapier on Oct 5, 2009 with no responses

Energy Potpourri

I am at the 2009 Gasification Technologies Conference this week, with a pretty full schedule. But there are three stories that I wanted to quickly hit. One is a follow-up on the previous cellulosic ethanol post, one is about Paul Sankey’s new report on peak demand, and the last is on a technology that ExxonMobil has reported on here at the conference that I felt was quite interesting. There will probably be no more new posts from me until the weekend. I only got away with this one because I decided to write instead of network (which I hate to do anyway) during free periods today.When Technologies Are Mandated I don’t care too much for mandates. I think they are… Continue»

By Robert Rapier on Jul 22, 2009 with no responses

China Tightens Grip on Africa’s Energy Resources with Stake in Offshore Field

Today a topical post the latest from Money Morning, which as I previously explained will be featured here whenever they have relevant material to offer. As always, normal caveats apply: I am not an investment advisor. I don’t endorse any specific stocks mentioned in the following story nor the ad at the end of the story. ————————–China Tightens Grip on Africa’s Energy Resources with Stake in Offshore Field By Jason Simpkins Managing EditorMoney Morning CNOOC Ltd. (NYSE ADR: CEO) and Sinopec Corp. (NYSE ADR: SHI) have agreed to buy a 20% stake in an oil field off the shore of Angola for $1.3 billion, illustrating China’s persistent attempts to acquire resources for its economic expansion at a time of weakness… Continue»

By Robert Rapier on Jun 22, 2009 with no responses

ExxonMobil in the Electric Car Business?

An interesting link from a reader this morning:The Maya 300: An Exxon-Assisted Electric Car If you’ve picked up a magazine in the last year, you’ve likely seen ads touting ExxonMobil’s (XOM) research into lithium-ion batteries. This week, you will get a further look into how that technology will come to the marketplace. Electrovaya on Wednesday will discuss its plans for the Maya 300, an all-electric vehicle coming in 2011. The car will run on lithium-ion batteries, charge in about eight to 10 hours, run for 60 miles and plug into regular 110-volt outlets. It will cost around $20,000 to $25,000. An extended-range battery option will run for 120 miles on a charge and cost $30,000 to $35,000. Turns out that… Continue»