When coal came into the picture, it took about 50 or 60 years to displace timber. Then, crude oil was found, and it took 60, 70 years, and then natural gas. So it takes 100 years or more for some new breakthrough in energy to become the dominant source. Most people have difficulty coming to grips with the sheer enormity of energy consumption.
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Rex Tillerson:
If you ask the average person on the street about U.S. energy and U.S. oil in particular, our situaRex Tillerson:
In conventional oil and natural gas production, you always produce a lot of formation water, and itRex Tillerson:
There are still hundreds of millions, billions of people living in abject poverty around the world.Rex Tillerson:
You know, oil prices from 2007, on the strength of a very robust global economy and a very robust eRex Tillerson:
Natural gas obviously brings with it a number of quality-of-life environmental benefits because itRex Tillerson:
Changes to weather patterns that move crop production areas around - we'll adapt to that. It's an eRex Tillerson:
The size of the resource prize has to be large to support the risked capital that has to be put inRex Tillerson:
Oil demand is going to continue to grow as population grows.Rex Tillerson:
Valdez was a devastating experience for our corporation. What emerged from that was a commitment toRex Tillerson:
None of us live in a zero-risk world.