Exxon's Latest Ad Campaign: So Last Summer

It can't be easy making high-end corporate advertisements that relate to commodity prices in an era of wild price swings. An example: Exxon's (XOM) ad where a soothing-sounding geoscientist voices the following:

One of the factors impacting* energy prices is growing global demand. And one way to put downward pressure on prices is to make more supply available.

He then goes on to tease us about the home-heating potential of his outfit's new method of unlocking natural gas from subterranean rocks.

All of which is fine and dandy. But let's not forget: Another way to put downward pressure on prices is to burst a speculative bubble with a massive, deflationary recession.

That doesn't make Exxon's method of natural gas extraction any less impressive (or so we assume, anyway). But with crude oil now trading in the low $40s, it does make this slick ad feel a little... last Summer.

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* Pedantic language thought of the day: "Impact" never has been and never should be a transitive verb.

Comments

[WayneS:]

you are off by over 30 years and you are making the same mistake everyone made at that time. Remember, that was when oil dropped to $10.
Exxon conceptualized the idea for this ad in the early 80's. They kept it on the burner until it was good for Exxon, the environment and the US. They began in earnest in 1995 and have put over a billion dollars into Colorado's economy since. The state of Colorado will benefit for many years to come.
PS, Exxon did research into global warming and CO2 sequestration in the early 80's, but after oil dropped to $10, global warming was another of Exxon's lies. Remember we were then worried about the next ice age.
After 30 years, the government will not allow ExxonMobil to pursue CO@ sequestration. All of this data is on the internet, if you just look for it.
Your last Summer comment is the crisis we are in in a nutshell. Everyone wants to make a lot of money without working or even risking their own money.

2008 Dec 10 09:28 PM