Sir Chili

Exxon's Record Taxes, Capital and Exploration Spending in Perspective

What doesn't it get reported? Because the liberal media is only interested in peprpetuating the image that oil companies are a bunch modern day "bandits". Why is it that GE's tax bill is never reported or of any importance to the media? Readers should check GE gross income, profits and tax payments and compare it to oil companies. Many will be surprised.
Dr. Perry for presenting some "real" facts as opposed to the opinions the so call "financial experts" regularly offer based simply on their biased views of an industry they don't understand.

Exxon's Hoard

It is about time that some writers understand the following, it is not about whether oil company A or Z wants to invest. It is about the fact that the oil industry for many years while trying to perform to the Wall Street Standard (WSS) did not hire people - actually reduced personnel as it is the easiest way to affect the bottom line - cut back R&D budgets and focused on easy oil.
Service companies & drilling contractors in an effort to meet the WSS cut personnel, consolidated plants, merged and what we now have is not enough people and machinery better known in the service sector as capacity to satisfy the needs that are out there today. Add to that the "new oil", i.e. wells, with big flow rates are in deep water and/or very demanding environments which require significant investment and oil companies trying to meet their obligation to their shareholders have to be very careful on how they handle investment otherwise they are heavily criticized for poor management - just think about the Rockefellers complaining about XOM management performance!
As previously mentioned, in the end it boils down to service company/drilling contractor capacity and enough personnel on the oil company side to tackle today's megaprojects. Sorry to break the news to some out there, they are not there!