Exxon CEO says oil prices not yet hurting economy

[The Straight Story]

Exxon CEO says oil prices not yet hurting economy

NEW YORK -- Exxon Mobil CEO Rex Tillerson said Wednesday he doesn't think the recent jump in oil prices is hurting the U.S. economy -- at least, not yet.

The head of the world's largest publicly traded oil company said that in 2008, when oil surged to near $150 per barrel, Americans didn't change their driving and spending habits until gasoline prices topped $4 per gallon. Gas peaked at $4.11 in July of that year.

"I don't know if that tip-over is still at the same $4 level or not," Tillerson told reporters at the New York Stock Exchange. "We'll see."

Oil is now about $104 per barrel after rising more than 20 percent over three weeks because of civil unrest in Libya. Tillerson hasn't seen any reduction in the demand for fuel from consumers or businesses.

http://www.cleveland.com/business/index.ssf/2011/03/exxon_ceo_says_oil_prices_not.html

[Sherman A1]

1. They aren't

hurting "his economy", just the rest of us.

[hobbit709]

2. How in the fuck would he know.

He's not trying to get to a $10/hr or less job worrying about whether or not he has enough gas to get there and back home.

[rpannier]

3. Kind of like if someone shoots you in the kneecaps and says

"Those bullets in your knees are not keeping you from running a marathon."

[annabanana]

4. Maybe not HIS economy . . . .n/t

[RoccoR5955]

5. WTF does he know... he gets all the free gas his Hummer can take! n/t

[fasttense]

6. Yeah, Americans are NOT hurting enough yet. Just look at all those protesters.

When the price gets so high, no one can protest and the middle class are all slaves, well then it will be high enough for Rex Tillerson. He's upping the price because he can and the federal gubermint lets him (and pays his corporation welfare to do it),

[xchrom]

7. shut the fuck up -- tillerson -- nobody wants to hear you yap. nt

[eilen]

8. I have a feeling my unit clerk's kids are going to miss alot of school

The bus is too dangerous so they need to be driven. No money, no gas. No gas, no school.

[WinkyDink]

9. But he can't wait until they do! So keep raising them, boys! (P.S. "Economy" means stocks, to him.)

[Marblehead]

10. FU Rex

we're screwed

[Bonhomme Richard]

11. I paid $60 to fill my tank yeaterday and it wasn't on empty. n/t

[Roland99]

12. L I A R