Bloomberg.com
By Fred Pals
June 16 (Bloomberg) — Rex Tillerson, chief executive officer of Exxon Mobil Corp., said the recent rise in oil prices reflects mainly the weak dollar and is not supported by market fundamentals.
When you look at just fundamentals, theres not a lot to support the kind of price movement we have seen, lets say, in the last six weeks, Tillerson, head of the worlds biggest oil company, said after a speech today at a gas conference in Groningen, Netherlands. Concerns about a weakening dollar and inflation had led some investors to bet on an economic recovery and try to get ahead of a rally, he said.
Oil was little changed today, with the contract for June delivery trading down less than 0.1 percent at $70.38 at 2 p.m. on the New York Mercantile Exchange. The dollar dropped against most of its major counterparts after leaders of Brazil, Russia, India and China considered reducing their dependence on the currency. Oil is up 62 percent this year and touched a seven- month high of $73.23 a barrel last week.
Demand has not picked up, Tillerson said. Demand continues to be relatively flat or down, and inventory levels are still very high around the world, including floating inventory levels, he said.
Tillerson was in The Netherland to attend the 50-year anniversary of the discovery of the Slochteren gas field. Exxon Mobil operates the field with Royal Dutch Shell Plc, Europes biggest oil company. The site has generated more than 160 billion euros ($221 billion) in revenue for the Dutch state, according to Maria van der Hoeven, the minister of Economic Affairs.
To contact the reporter on this story: Fred Pals in Amsterdam at[email protected]
Last Updated: June 16, 2009 14:20 EDT
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
