Exxon Mobil’s Tillerson says focus is on meeting global demand for oil and gas

Exxon Mobil Corp.’s CEO says the world’s largest publicly traded petroleum company is not in any hurry to find alternatives to oil and gas. If anything, the company must scramble to keep up with rising global demand for fossil fuels.

Chief Executive Rex Tillerson said Tuesday that the company is spending the bulk of its record profits on finding and producing new supplies of crude oil and natural gas. Moreover, Tillerson said Americans should recognize that biofuels and other renewables will continue to play a small, if growing, role in the global energy supply for years to come.

signonsandiego