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...company has not cranked up spending on newer fields abroad--while competitors like ChevronTexaco and ConocoPhillips have begun to do so. "I would love to see them make more investments, especially in some of the areas that have recently reopened, like Libya," says Ted Parrish, co-manager of the Henssler Equity fund, which counts ExxonMobil as its No. 1 holding. Other investors put it more bluntly: "Over time you may have to question whether they are being too disciplined," says John Linehan, manager of T. Rowe Price Value fund, which owns ExxonMobil shares. "If you told people that we would...

Author: /time Magazine | Title: Energy: A Barrel of Cash | 5/22/2005 | See Source »

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