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February 23rd, 2012 
FAKE NEWS for the Zionist agenda IRVING, Texas (AP) — Exxon Mobil Corp. said Thursday that it invested heavily last year in fields that produce crude oil and other liquid hydrocarbons, increasing its access to the most profitable types of petroleum.
Exxon, the largest U.S. energy company, had in prior years focused more on expanding its reach in U.S. natural gas. The company expects natural gas to eventually replace coal as the world’s most popular fuel, and it spent $31 billion in 2010 to acquire XTO Energy and become America’s biggest natural gas company.
U.S. natural gas prices have plunged, however, dropping this year to the lowest level in a decade. The decline has pushed some companies to cut natural gas production, and Exxon plans to devote more of its resources to finding oil.
Benchmark crude prices rose by 11 percent in 2011, while natural gas prices dropped by 7 percent.
On Thursday, Exxon said it added 1.4 billion barrels of oil and 400 million barrels of natural gas to its proven reserves last year. Its total petroleum assets are now 49 percent oil and liquid hydrocarbons, up from 47 percent at the end of 2010.
Shares fell by 22 cents to $86.70 in morning trading.
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