RE:RE:RE:The plan... Some pundits say that Permian is running out of tier 1 and becoming gassier. Others say that it's a matter of CapEx.
XOM, in jurisdictions run by woke dems, has been sued for climate change. California is also suing it over recycling of plastic bottles. But then it spent $60 Billion buying Pioneer, a major producer in the Permian.
In a new friendly regulatory and political environment, XOM is more than capable to increase spending.
Added production, if significant, will take time. In the meantime, the new administration is definitely going to reinforce sanctions on Iranian oil, so it may all balance out.