On Thu, 27 Jul 2006 23:07:20 -0400, Wayne.B wrote:


Exxon does not even come close to owning all of the oil, it's actually a
very competetive business played for high stakes.

You should be glad that oil prices are high because it will ensure that
lots of drilling and exploration is in the budget. When oil companies
fail to make a profit, drilling and exploration goes on the chopping
block.

It seems of late, that exploration has taken a backseat to consolidation.
This isn't a bad thing, but it shows the maturity of the sector. Most new
oil is deep and expensive. It is cheaper to buy, or merge to acquire,
more reserves.



My advice is to buy some stock. Exxon is a very well managed company.