Exxon’s Latest Quarter Signals A Turn to Natural Gas- from business week

Posted by: Steve LeVine on October 29

Today’s message from Exxon: Think, value, embrace natural gas.

The world’s largest publicly traded oil company reported its third-quarter earnings today, and — apart from its missed profit numbers — natural gas is the most significant story.

It’s been clear for a year or more that Exxon — along with most of Big Oil — is becoming more of a natural gas-led company than a dominant oil play. That’s significant because generally oil earns a lot more money by volume than natural gas. But since accessible conventional oil is in shorter and shorter supply — at least at economical-to-produce costs — Big Oil is making a virtue of the necessity of turning to natural gas for replenishing its reserve base.

http://www.businessweek.com/blogs/money_politics/archives/2009/10/exxons_latest_q.html

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