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Strategies & Market Trends : Natural Resource Stocks
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To: SliderOnTheBlack who wrote (22617)3/10/2005 3:11:22 PM
From: Taikun  Read Replies (2) of 108882
 
XOM CEO's motivations?

$27bn in cash, not replacing reserves, buying back stock. There! He said it. The cheapest oil is in the stock market. Period.

I guess they want to buy some companies at lower prices and want to talk the market down?

Where are the hard questions in this interview? Ones like:

1. How much of 2004 production was replaced?
2. What's XOM's reserve life?
3. What does XOM think of BP not investing in oil and rotating into solar and other alternatives because there are no elephants left?
4. Is that true, are there no elephants left?

I wouldn't put this guy at the top of the list. It isn't reality. Simmons and Coxe are much closer to reality. As for oil dropping, well who's going to look for anything but elephants at, say, $20 oil? If there aren't elephants left, then the numbers simply don't work.

I'll bide my time here. Oil is in my retirement account, and the oil stocks I hold value oil at $2/bbl or less.

We shall see who should be at the top of the list.
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