Exxon Mobil (XOM) got quite the prize in a well-run XTO Energy (XTO), says Gregor Macdonald, but...

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon Mobil (XOM) got quite the prize in a well-run XTO Energy (XTO), says Gregor Macdonald, but is it really because Exxon sees policy favoring gas? No, it's not that visionary; the real reason is that oil production in the West is tough and Exxon too big to add reserves except by acquiring natural gas.