Source: Wall Street Journal, Feb 1, 2011
HOUSTON—Exxon Mobil Corp., the world's largest publicly traded oil company, is struggling to find oil.
Instead, it is stocking up on natural gas, mostly through its acquisition of XTO Energy Inc. last year, according to an annual financial report by Exxon on Tuesday. This shift toward gas is troubling some investors, since gas sells for less than the equivalent amount of oil and companies are finding a lot of gas, putting downward pressure on prices.
Also, Exxon's sheer size has become an issue with investors. It pumps out of the earth the oil and gas equivalent of 1.6 billion barrels of oil each year. And finding a new barrel in the earth for every one it produces—a 100% reserve replacement rate—has become extraordinarily tough. Exxon boasted this was the 17th consecutive year of hitting this mark, but analysts agree that without the XTO deal, Exxon would have fallen far short this year.
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Who we are - Qui nous sommes
- PCGM - GMPC
- Like it or not, the combined forces of climate change and oil depletion mean we will all have to live with a lot less fossil fuel-based energy in the future. This has widespread implications for our way of life. Our group wants to help Greater Monctonians prepare for what could be a tricky transition. We are about: Food sovereignty, Active and public transportation, Energy efficiency, Education & Awareness +++ Qu'on le veuille ou non, l'effet combiné des changements climatiques et de l'épuisement du pétrole signifie que l'on devra à l'avenir composer avec beaucoup moins d'énergies fossiles. Cela suppose des changements considérables à notre mode de vie. Le but de notre groupe est d'aider les citoyens du Grand Moncton à se préparer à une transition qui pourrait s'avérer périlleuse. Nous sommes centrés sur : la souveraineté alimentaire, le transport actif et collectif, l'efficacité énergétique, l'éducation et la sensibilisation.
Alternative Energy - Énergies alternatives
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