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Article: Exxon-Mobil Merger Won't Yield Higher Oil Prices, Analyst Says.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 3, 1998
- Author:
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Dec. 2 -- W. Neal McAtee, oil exploration and supply analyst for Morgan Keegan & Co. in Memphis, answered questions Tuesday about the proposed Exxon-Mobil merger.
QUESTION: Will the merger of Exxon and Mobil mean higher oil prices for consumers?
ANSWER: Wholesale prices are cheaper on an inflation adjusted basis than they have ever been. Retail, I'm not sure because of all the taxes that have been added (to the price of oil products) in the past few years, but maybe they are as low on an inflation adjusted basis since maybe the '50s.
Two big companies getting together is not going to alter that.
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