Monday, November 17, 2008

Nothing lasts forever...

“It’s not that we like lower prices, but our competitive advantage is more obvious to people in a low-price environment,” says Rex W. Tillerson, the chairman and chief executive of ExxonMobil, the world’s largest, mightiest oil company. “But in a high-price environment, our competitive advantage has been quite evident as well.”

Someday I would like the NYTimes to call a poet Mighty.

Last year, Exxon, which is based in Irving, Tex., celebrated its 125th anniversary, marking a straight line that connects it to John D. Rockefeller’s original Standard Oil Trust before the government broke up the enterprise. While other oil companies try to paint themselves greener, Exxon’s executives believe their venerable model has been battle-tested. The company’s mantra is unwavering: brutal honesty about the need for oil and gas to power economies for decades to come.

“Over the years, there have been many predictions that our industry was in its twilight years, only to be proven wrong,” says Mr. Tillerson. “As Mark Twain said, the news of our demise has been greatly exaggerated.”

I'm going to keep going with this blog for a few more days -- a week or so -- I'm too busy to end it the way I would like to -- which is to say, with anything more than a minute.

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