Let the Good Times Roll

Considering today's Sarbanes-Oxley world of CEO tongue minding, recent shareholders' meetings for XTO and Range Resources produced some unusual prognostications.

“XTO simply rocks. If you work here, you better grab hold,” Chairman Bob Simpson said. “We’re going to spend a lot of capital. We’re going to be active, and we’re staking our claim”

“The world is into a period when oil is going to be rationed by price. India and China want their share,” Simpson said, addressing an audience of more than 200 at the Fort Worth Convention Center. “I’m not sure we can stop this train,” Simpson said, also noting, “I suspect prices will tend to go higher for natural gas” as well.

Range President, John Pinkerton, noted “I for one believe we are in a high-priced environment and are going to be there for a while,” he told a small group at the company’s headquarters in downtown Fort Worth. If in the past the United States and the Organization of Petroleum Exporting Countries dominated the market, Pinkerton said that today “there’s still one supplier, OPEC, and now there are three consumers: the United States, China and India.” Pinkerton said environmental concerns could also boost the standing of natural gas, which he said has a much smaller carbon footprint than crude oil or especially coal. “There is no such thing as clean coal,” he said.

Full Story at http://www.star-telegram.com/business/story/655207.html