Monday, July 2, 2012

Losing Our Shirts on Natural Gas

So it's official - Exxon is not happy with dirt cheap natural gas (LINK):

On Wednesday Exxon Chief Executive Rex Tillerson broke from the previous company line that it wasn't being hurt by natural gas prices, admitting that the Irving, Texas-based firm is among those hurting from the price slump. 
"We are all losing our shirts today." Mr. Tillerson said in a talk before the Council on Foreign Relations in New York. "We're making no money. It's all in the red."

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