A Wiser Outlook

They control a big share of the American economy, they plan 30 years out, and they have never failed to balance their budget. No, I'm not speaking of any federal agency. I'm talking about Exxon Mobil, which is among the world's most productive and best-run energy companies. Throughout its storied history, dating back to John D. Rockefeller's Standard Oil Company, Exxon has engaged in careful planning and capital allocation based on regular assessment of demand for oil and gas. Since 2004 it has made its annual assessment available to the public via the Outlook for Energy. The 2001 Outlook, published on Thursday, is especially apropos in light of recent fiascoes on the part of the Obama Energy Department, including the potential loss of as much as $500 million* of taxpayer money at Solyndra and other green energy projects. With a record like that of Energy Secretary Stephen Chu, Exxon would no longer be in business. As it is, the Energy Department keeps on requesting higher levels of...(Read Full Article)