The Today Show inteview with guy from Exxon

**littlemotherhaywood** · 05-03-2006, 08:36 AM

Did anyone watch it? What was your interpretation of what he said? I couldn't believe how he kept evading Matt Lauer's question about responsibility to the public and the families that are hurting in our nation. The last thing he said was basically that he works for the shareholders and it's his job to pad their pension. He said basically that Americans would rather have energy no matter what the cost (his thoughts anyway) than not have energy. He also said that Exxon didn't see any other viable options for energy to invest in (like the other companies out there) and that there was enough crude oil to last our generation and the next. Someone correct me if I'm wrong here. I was trying to get my dd ready and my ds was up two hours early so I may not have been completely with it. There's just nothing like watching someone who earns more than I'm likely to in this lifetime try to downplay how badly fuel prices are hurting our economy.

**ama** · 05-03-2006, 08:40 AM

Oh how I WISH I had watched this show. Just the little bit that you're telling burns me up though. How callous!

**banana** · 05-03-2006, 09:00 AM

I wish I watched that too.

**midwestgal** · 05-03-2006, 12:35 PM

We don't watch TV here, but I've read plenty. One of these oil company presidents (I'm quite sure it is Exxon) had a 400 million bonus or retirement package. Don't tell me they can't pass savings on to consumers!

**SMILESFRSD** · 05-03-2006, 12:38 PM

I watched it, all I have to say, is YEAH RIGHT! THey just feel they aren't as rich as they would like to be, at our expense.

**Dave'sGirl** · 05-03-2006, 12:45 PM

**frugalnana** · 05-03-2006, 12:55 PM

I didn't see it but I wish I had. My dh said it will get alot worse until someone in congress puts they're foot down. I can't imagine being a two income family making $6.50 an hr or less and trying to make ends meet. My oldest owns his own carpet cleaning business and the prices have effected him. Less people calling to have carpets cleaned. His wife works part-time as a lab tech. My next oldest son works as a crew supervisor for Arbys and his gf works at a Grocer. They can barely make ends meet each month.
It burns me that the companies whined about losing money, then I think it was 3 weeks ago showed a profit of over 3.5 billon. So how can they be hurting. I would like to see them live off our paychecks.

**YankeeMom** · 05-03-2006, 01:41 PM

You can see it online here:
http://video.msn.com/v/us/msnbc.htm?...a&f=00&fg=copy

**littlemotherhaywood** · 05-03-2006, 04:49 PM

Thanks, now I can share all of the information

**ewokgirl** · 05-03-2006, 04:54 PM

I just watched the video. I'm coming at this from a different perspective. My dad owned his own oil company when I was little, and when he retired a few years ago, he was a VP for one of the world's largest oil companies. Most of the outcry over prices is based on ignorance, IMO.

Most of our oil comes from foreign countries, some of whom we have difficult relationships with. The cost of drilling goes up depending on what they have to drill through (such as shale). The cost goes up due to terrorism. (I think it was year or so ago when ExxonMobil's Saudi Arabian office was broken into, and a few workers were murdered.) Those workers get paid more as an incentive/compensation for working in places like that. Oil has to be shipped all around the world, refinement costs money, etc.

Also, oil is a dying resource. The only problem I had with that guy's answers is that he said there's plenty of oil for this generation and the next. That's not what I've read. My dad doesn't understand why anyone in my generation would even bother going into the oil business because it's dying. (meaning it won't last forever)

When he said that people don't care how much energy they're using (or something to that extent), I think he's right. Look around. Practically every vehicle on our highways is a gas-guzzling behemoth of an SUV. Very few families actually NEED those SUVs they're so fond of buying and driving. Look at the houses being built. Square footage just keeps going up and up. People in America are all about image and having everything big. All of this uses up an inordinate amount of energy. If America really cared about the cost of energy, we'd be doing everything we can to conserve. Yet, as a whole, we demand more and more energy instead. I realize that isn't the case for many/most people on these boards, but when you look around at what's selling and being built, it's mostly big, energy-sucking houses and vehicles. We're a very selfish society.

Oil consumption around the world has gone up. China has increased their oil needs tremendously in the past few years. It's not just our usage driving prices; it's the world's oil demand. Plus, we pay less for gas than almost anyone else in the world. If you look at Europe, they're paying through the nose for fuel. Granted, some of those countries are socialized rather than democratic, so some of that is taxes, but overall, we pay little in comparison.

Now, I'm not happy with the oil prices, either. But, I do what I can to conserve. We drive fuel-efficient cars. We live in a relatively small house. We run the heat and AC only when necessary (which in TX, AC is necessary much of the year, but I keep the temp at 79 or 80).

As for what he said about other companies investing in technology available now for fuel alternatives, yet EM is investing in new technology, I think that's very, very wise. Hybrids cars aren't living up to the hype. Hydrogen fuel cells have problems. Let the others work on the now stuff, and be glad that another company is looking into new technology. If someone isn't looking ahead, we'll never find a really good solution. It takes money to do research and test the technology.

Our nation needs to start looking in the mirror, rather than blaming everything on the oil companies. I realize people are really offended that they're not going to do anything to help the American people (like dropping their prices and reducing their profits), but come on! We don't expect that of any other business. This is capitalism at work. We're generally in favor of capitalism unless we're talking about oil companies or Walmart.

The cost of oil is affecting poorer families here, I know, but I see that as a wage problem. Minimum wage is not a living wage anymore.

**midwestgal** · 05-03-2006, 05:14 PM

I understand, ewokgirl, what you are saying. We are extremely conservative in our home with fuel. We drove super-economical cars when gas was only 25 cents/gallon in Texas back in the early 70's. But there is not a CEO in the world who should be making $400 million as the Exxon CEO has, profiting in record-breaking sales. Post-Katrina and with the Iraqi war still going strong, Exxon and their shareholders have made more money than any other business in the history of commerce in the USA! What these companies want to do is to shift the entire blame on the US consumer who, yes, does consume too much fuel as a nation. But IMHO, it seems to me that they will not share some of the burden with the consumer. If they would, these executives would not be pocketing this kind of money! Shame on them! Individual states are now talking of levying taxes on these companies within their states to bring these profits more in line and make these companies demonstrate more accountability. Otherwise, we are simply at their mercy. They can tell us anything they please!

**ewokgirl** · 05-03-2006, 06:18 PM

Point well taken, and I do understand the frustration with the crazy, inflated salaries. I just wanted to make the point that everything isn't the fault of the oil companies. People always want to place blame there (I'm not saying they're completely blameless), but no one ever seems to want to look at themselves. I've known so many people with the huge houses and massive, unnecessary vehicles, and they sniff and say they can afford it, so what does anyone else care. Well, I care, because it means they're using far more than their share of a dying resource. You get an entire nation of people with that attitude, and suddenly, prices are high, and no one wants to take any of the blame in the higher demand for oil.

**yankeegal** · 05-03-2006, 07:04 PM

Originally Posted by ewokgirl

Point well taken, and I do understand the frustration with the crazy, inflated salaries. I just wanted to make the point that everything isn't the fault of the oil companies. People always want to place blame there (I'm not saying they're completely blameless), but no one ever seems to want to look at themselves. I've known so many people with the huge houses and massive, unnecessary vehicles, and they sniff and say they can afford it, so what does anyone else care. Well, I care, because it means they're using far more than their share of a dying resource. You get an entire nation of people with that attitude, and suddenly, prices are high, and no one wants to take any of the blame in the higher demand for oil.

Excellent point! If EVERYONE would just cut back a little, it would make such a big difference.

**Lmullin** · 05-03-2006, 08:59 PM

We are all in this together! We all need to conserve. If everyone cuts down just a little, we can make a huge difference. It benefits everyone to cut back. Batch your errands to save on gas. Walk or ride a bike when you can. Turn the heat down just a tad. Shut a light when not in use, etc. You all know what I'm talking about. I'm preaching to the quoir.

**SHOPGIRL** · 05-03-2006, 09:03 PM

Well, I'd have to agree with the Exxon guy. It's his job as the head of a company to make as much money as he possibly can. Gas prices are still not that high. It would be nice if Congress would allow new refineries to be built in the U.S. I think its been 30 years since the last one was built.

I drive an economical car. My costs are only up $10 a tankful. A tank can last me about 2 weeks. So, an extra $5 doesn't really hurt me that bad.

I'm glad that I don't drive an SUV, but If I had a bunch of kids and car seats, I totally could see why I might need one.

There are a bunch of companies that make a ton of money; how about the cable companies?