ConocoPhillips Chairman and CEO Ryan Lance said Tuesday that the U.S. is in the midst of an energy renaissance but will need to start exporting surplus barrels of crude if the oil boom is to continue. (Associated Press)
ROD LAMKEY JR./THE WASHINGTON TIMES
John Watson, chief executive officer of Chevron Corp. (left); Marvin Odum, U.S. president of Shell Oil (second from left); H. Lamar McKay, chairman and president of BP America Inc. (third from left); James Mulva, chief executive officer of Conoco Phillips (second from right); and Rex Tillerson, chairman and chief executive officer of Exxon Mobil Corp., testify during a Senate hearing on oil- and gas-tax incentives and rising energy prices on Capitol Hill on Thursday.
ConocoPhillips CEO James Mulva (left) and ExxonMobil CEO Rex Tillerson gather their things on Capitol Hill in Washington on Thursday, May 12, 2011, after testifying before the Senate Finance Committee. (AP Photo/Alex Brandon)