12.2.06

Latest Business News and Financial Information | Reuters.com

Latest Business News and Financial Information | Reuters.com: "HOUSTON (Reuters) - The United States will always rely on foreign imports of oil to feed its energy needs and should stop trying to become energy independent, a top Exxon Mobil Corp. (XOM.N: Quote, Profile, Research) executive said on Tuesday.

'Realistically, it is simply not feasible in any time period relevant to our discussion today,' Exxon Mobil Senior Vice President Stuart McGill said, referring to what he called the 'misperception' that the United States can achieve energy independence.

The comments, in a speech at an energy conference in Houston, come a few days after U.S. President George W. Bush declared America was addicted to Middle Eastern oil and promised to help the country kick the habit."

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