http://clipmarks.com/clipper/JICWyllie/date/2008/5/3/http://rss.clipmarks.com/clipper/JICWyllie/date/2008/5/3/15Clip, tag and save information that's important to you. Bookmarks save entire pages...Clipmarks save the specific content that matters to you!en-ushttp://clipmarks.com/clipmark/097CEBCF-D3E9-4083-ABCB-C87C9AED31B3/<b>clipped by:</b> <a href="http://clipmarks.com/clipper/JICWyllie/">JICWyllie</a><br><div border="2" style="margin-top: 10px; border:#000000 1px solid;" width="90%"><div style="background-color:"><div align="center" width="100%" style="padding:4px;margin-bottom:4px;background-color:#666666;overflow:hidden;"><span style="color:#FFFFFF;font-weight:bold;">Clip Source: <a style="color:#FFFFFF;" href="http://www.chron.com/disp/story.mpl/business/steffy/5747962.html" title="http://www.chron.com/disp/story.mpl/business/steffy/5747962.html">www.chron.com</a></span></div><div style="padding: 10px;"><div style="text-align:left;"><P>At a time of record oil prices, America's biggest oil company reported an earnings increase that was the smallest among its peers.</P> <P>The profit is what captures everyone's attention, but there's a bigger concern hidden amid the numbers of Exxon Mobil's earnings.</P></div></div><hr size="2" color="#666666" /><div style="padding: 10px;"><div style="text-align:left;"><P>The company's worldwide oil production fell 10 percent, to just under 2.5 million barrels a day.</P> <P>Some of the decline came from Exxon Mobil's dispute over the seizure of assets by the Venezuelan government, but even excluding those assets, the company's production declined. Overall production, including natural gas, fell 3 percent.</P></div></div><hr size="2" color="#666666" /><div style="padding: 10px;"><div style="text-align:left;">a "gas tax holiday."</div></div><hr size="2" color="#666666" /><div style="padding: 10px;"><div style="text-align:left;">would essentially lower gasoline prices at the pump. And how will we respond? We'll drive more. We're talking about summer, after all. </div></div><hr size="2" color="#666666" /><div style="padding: 10px;"><div style="text-align:left;">As demand rises, it depletes supply even further, and that, in turn, drives prices up in the world market. Shortages aren't solved by using more.</div></div></div></div><br><div style="margin-bottom: 40px;">Tags: <a href="http://clipmarks.com/tags/energy.+oil/" rel="tag">energy. oil</a>, <a href="http://clipmarks.com/tags/i-supply/" rel="tag">i-supply</a>, <a href="http://clipmarks.com/tags/i-decrease/" rel="tag">i-decrease</a>, <a href="http://clipmarks.com/tags/i-forecast/" rel="tag">i-forecast</a></div>http://www.chron.com/disp/story.mpl/business/steffy/5747962.htmlSat, 03 May 2008 22:50:42 GMT