Exxon Mobil CEO Admits that Oil Should Be $60-$70 a Barrel Based on Supply and Demand

On May 12, 2011, when questioned by U.S. Senator Maria Cantwell (D-WA) at a Senate Finance Committee hearing, Exxon Mobil Chairman and Chief Executive Officer Rex Tillerson said that oil should cost between $60 and $70 per barrel, if the price of oil were based on supply and demand fundamentals. Oil was trading at $98 per barrel on Thursday morning, after inexplicitly plunging 5.5 percent Wednesday.

More corporate eye gouging and profiteering in the hands of the world's financiers and the hidden elite.

see youtube video :
http://www.youtube.com/watch?v=LY420_U4U0I&feature=player_embedded