Doug Leggate Quotations

It doesn't take long in this price environment for these deals to pay for themselves.

Without a shadow of a doubt, Exxon has the best management in the oil industry. They've been riding the momentum of higher prices for some time now, and they've got a pipeline of new opportunities that promises volume growth.

While stocks once again saw significant draws, the market's focus is currently set on seemingly weaker demand.

Exxon produces the equivalent of a small country every year so replacing that with new reserves is a tough task. But they've got a pipeline of opportunities coming online that promises to be a meaningful driver of growth.

Exxon Mobil's exposure to North Sea natural-gas prices and European marketing are two main areas of variance vs. our expectations.

There is no shortage of actual physical supplies; what there is is a shortage of spare capacity.

We continue to view near-term sector weakness as more opportunity than risk as we head toward winter.

Evacuations have already started, which is going to disrupt production. Any storm going through the Gulf is going to slow the pace of the recovery from Katrina.

The second half of last year we started to see another list of projects in place. It is in a lucrative position with one of the strongest production profiles in the sector with very attractive margins as well.

Delivering volume growth is critical to the Exxon story -- but incremental margins are equally critical.

Any storm going through the Gulf is going to slow the pace of the recovery from Katrina.

The removal of hedging for '06 should reveal (the company's) true earnings power as hedges have depressed earnings over the past three years.

There seems to be a greater tolerance in the economy in terms of what can be withstood.

I don't think $65 oil is sustainable in the long term. There will be a reaction from either the supply or demand side.

The dynamic shifted this year. There was a growing perception that supply was running out. The doomsday scenario that stated OPEC couldn't meet demand and the Saudis wouldn't be able to increase output gained traction.