ExxonMobil VP issues stark warning on energy prices in coming weeks

ExxonMobil's Senior Vice President Neil Chapman issued a stark warning to the public that energy prices may explode upwards in the coming weeks on the same day his company's board approved moving the company's corporate structure from New Jersey to Texas.

ExxonMobil VP issues stark warning on energy prices in coming weeks. ExxonMobil's Senior Vice President Neil Chapman issued a stark warning to the public that energy prices may explode upwards in the coming weeks on the same day his company's board approved moving the company's corporate structure from New Jersey to Texas. Speaking at the Bernstein Conference in New York on Thursday, Chapman warned that crude oil prices could go as high as $160 per barrel in the coming weeks as dwindling reserve inventories finally bottom out. "We're approaching unheard of inventory levels," he said. "I mean really, really low levels. You can debate whether that's going to hit those really low levels in two weeks or three weeks. Once you get to that point, then you'll see prices shoot up." Prices have stayed low, Chapman posited, because of the release of...