Rex Tillerson

Rex Tillerson
Rex Wayne Tillersonis an American businessman and is the chairman, president, and CEO of Exxon Mobil Corporation. Under Tillerson's leadership Exxon acquired XTO Energy. Exxon has tied with Apple Inc. and Google to be one of the top three largest public companies by market value...
NationalityAmerican
ProfessionBusinessman
Date of Birth23 March 1952
CountryUnited States of America
business industry massive remains
Our industry remains massive and very much a long-term, capital-intensive business.
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There are still hundreds of millions, billions of people living in abject poverty around the world. They need electricity. They need electricity they can count on, that they can afford. They need fuel to cook their food on that's not animal dung.
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Natural gas obviously brings with it a number of quality-of-life environmental benefits because it is a relatively clean-burning fuel. It has a CO2 footprint, but it has no particulates. It has none of the other emissions elements that are of concern to public health that other forms of power-generation fuels do have: coal, fuel oil, others.
culture help people simply source understand
Simply put, it works. The Exxon Mobil culture is something that a lot of people would like to understand better. I'm not really going to help them understand it, because it's the source of our competitive advantage.
companies scale
We need companies that have the scale to compete.
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You have to put a question mark around just how long the global economy can live at $60 a barrel.
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Experience tells us that a good foundation is critical for success in the Arctic and elsewhere. ExxonMobil's Sakhalin-1 project with Rosneft is an example where we have put this experience to work.
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Exxon Mobil today accounts for a smaller global market share than Exxon and Mobil did together eight years ago.
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With respect to the committee's specific question -- whether mergers and acquisitions in our industry have contributed to higher prices at the pump -- the answer is no.
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What we support is continued efforts to understand the problem better. We need to work harder on articulating our views, and we're going to try to do better at that in the future.
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We are investing heavily in conventional oil and natural gas, which is the business we are in. We are not in those other businesses.
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This is an industry that lives in cycles. The price environment we're in today is not sustainable.
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Projects still require years to develop, cost billions of dollars to bring on stream and operate for decades.
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We need U.S. energy companies that have the scale and financial strength to make investments, undertake the risk and develop the new technologies.