Lee Raymond Quotations

Our earnings in the third quarter reflect the impact of the relatively volatile industry environment on commodity prices and industry margins.

to minimize the increase in price while at the same time recognizing if we kept the price too low we would quickly run out (of fuel) at the service stations.

We would be absolutely amazed, although pleasantly surprised, if the Federal Trade Commission said we did not have to rationalize some assets,

I'm not trying to criticize the traders, ... Obviously, the probability of a shortage is higher than it has been in the past.

By putting Mobil and Exxon together ... particularly in the upstream, we will have a portfolio that will diversify our asset base so that we can become a better competitor than we are now,

People who want to curb the use of fossil fuels need to understand that not everyone in the world has the luxury of inventing romanticized scenarios. Many people just need clean water and energy to fuel social and economic progress.

Petroleum earnings go up and down with the volatility in the openly and globally traded commodities in which we deal. ... History teaches us that punitive measures hastily crafted in reception to short-term market manipulations, will likely have unintended negative consequences including creating disincentives for investment.

Over the last 10 years, Exxon Mobil's cumulative capital and exploration expenditures have exceeded our cumulative annual earnings. So, we keep investing in the future when earnings are high as well as when they are low.

New, grass-roots refineries are not necessarily the best answer for the industry,

Let me give you my take on the merger, ... It is essentially behind us.