“Big Oil is in a heap of trouble”-I don’t think so. You are right-big oil isn’t in trouble, America is in trouble. The companies named in the article that are HQed in the US will simply relocate. And with worldwide demand growing (even in a soft economy)-driven by China and India-Big Oil will simply divert more of their sales to those markets-(which are free) and away from the US.
Energy is this country’s achilles heel. If we can not supply cheap and plentiful energy to the manufacturing sector they will move to those parts of the globe that can.
The people of this nation do not understand basic economics-and the blame for this lack of understanding lies at the doorstep of the education system in this country.
75% of ExxonMobil's revenue already comes from overseas markets. I don't know why they bother to stay in the US with all the taxes, regulations and environmental headaches we give them already.