Energy Glance
ExxonMobil CEO and chairman Rex Tillerson defended his company's staggering $11.7 billion in profits for the second quarter, saying that the company's earnings reflected the magnitude of its business operation.
"I can understand why people are very upset and why they're very worried and concerned about their ability to deal with these high prices," Tillerson said. "It does bother me that much of that is directed at us. Our job is to provide energy, to provide it in a means that is reliable. And we hope we can provide it in a means that's convenient as well to the consumer."
The oil pipeline, which BP owns as part of a consortium, can carry up to 90,000 barrels of oil per day.
This could extend the driving time of electric cars and the life of mobile devices such as cell phones, music players and cameras by the same amount, making a typical laptop battery last 40 hours instead of four..
The new plant, PS10 (Planta Solar 10), is the first commercial solar thermoelectric power plant in the world and has a peak capacity of 11MW - sufficient to generate 23 million kWh of electricity per year powering 6,000 homes and saving 18,000 tonnes of carbon emissions per year. The plant took four years to build with construction finishing at the end of 2005 and has so far cost 35 million Euro. Construction was led by Solucar, an Albengoa company.
Exxon Mobil Corp said on Thursday soaring oil prices pushed its second-quarter earnings up 14 percent, again breaking its own record for the highest-ever profit by a U.S. company.
