I personally don't have a spare $2 billion laying around, but you give Exxon or Shell some tax incentives to develop it, they'll be there tomorrow.
..............."I personally don't have a spare $2 billion laying around, but you give Exxon or Shell some tax incentives to develop it, they'll be there tomorrow"..............
But, Fatso Raymond, and his toadie Exxon Board, looked at last years $36 billion in new cash, and Exxon made the decision to spend 1/2 of it, $18 billion, to buy back their stock, erasing a 2.1% dividend, even though their stock was trading at all time highs.
I guess they couldn't envision a better cash investment than a 2.1% return, as the company actually had oil exploration costs of less than one billion $, lower than the cost in 2004.
A real investment travesty; a short sighted management team; but one that voted to give Fatso another $400 million retirement present!
Total disgust!