exxon abandons search for natural gas

[scottfetsh]

heard today on bloomberg that exxon gave up searching for natural gas because the supply is so high that it is driving down prices. OK! lets start driving on this stuff allready!

http://www.bloomberg.com/apps/news?p...lqbXA&refer=us

[ajgiorgi]

Re: exxon abandons search for natural gas

They stopped bc they wont be able to make money and rip us off bc there is sooooo much.

[CraziFuzzy]

Re: exxon abandons search for natural gas

This is a decent sound business plan, as quite honestly, exploration is VERY expensive, and if there is not the demand for more wells right now, why should they spend the money? Can't fault them for that.

[CNG MOTORS]

Re: exxon abandons search for natural gas

They stopped looking because they found the mother load. They are not sharing it because futures are low for NG somewhere around $8. When oil runs out and/or NG futures rise then Exxon will come out with an annoucement with. We just found a large well and look at us helping to clean the environment,blah,blah,blah. Did you really think it worked in any other way. NO... I'm actually a registered Independent.:0)