(In case the video isn’t available, click here to see Boone on The View.)
Also despite the country being in recession, Exxon announced today that it will be raising its spending on energy exploration and production. The company’s conservative leadership has managed to amass a huge cash stash which they are going to use to ”exploit long-term growth opportunities to meet global demand.”
Most companies have had to cut back on spending in this economic environment. As such, future problems facing the country are mostly being ignored. The country desperately needs to address its dependence on foreign oil. The days of $40 oil and $1.75 gasoline will not last forever. Kudos to Exxon for trying to move forward in spite of the circumstance in which they find themselves.
