Transcript: Rex Tillerson, ExxonMobil CEO

REX TILLERSON: Absolutely. It's part of our, you know...

CHARLES GIBSON: Who's your secretary of state?

REX TILLERSON: Well, there's not -- there's no single. We have people in countries all over the world.

CHARLES GIBSON: Sure, sure.

REX TILLERSON: And then we have people in-house who -- some of who have come out of -- of government in the past and have a lot of background -- background in these areas.

CHARLES GIBSON: Yes. I was thinking you must have an awful lot of people who've come out.

REX TILLERSON: Yes, not -- we have a -- there's very selected. I mean, we're going to try to get people that have particular knowledge and expertise in parts of the world.

CHARLES GIBSON: Yes ... and is there a most promising alternative fuel for transportation?

REX TILLERSON: Well, there's not one that's evident today. Certainly, the choices that are available and are being made available today in terms of the biofuels do come with a lot of their own consequences in terms of water resource usage, land resource usage, other collateral impacts that -- that I think do concern people.

So, again, I think that's why we are devoting a lot of our own research activity and supporting a lot of research activity through academic institutions and others, looking at what are the next generation of possible transportation fuels.

And that could come from a wide variety of potential sources in the future that certainly we hope would not impact food resources and certainly would not impact other important natural resources either.

CHARLES GIBSON: I mentioned that Americans drove 12.5 billion fewer miles last month than the same month a year ago. $4 a gallon gas -- have you cut back?

REX TILLERSON: Personally, have I cut back?

CHARLES GIBSON: As the president and CEO or the chairman of the -- of the board and -- and CEO of ExxonMobil, have you cut back?

REX TILLERSON: Well, I don't drive very much as it is, other than back and forth to the office, so not a lot of vacation miles to be driven.

But I think in terms of all of us, again, using energy wisely, it's -- I think it's on everyone's mind, as it should be, and I think that's good.

In many -- in many respects, if you can look for the bright spot out of the situation that's been very difficult for so many Americans, I think it has brought sharply into focus just how important our energy resources are and how important it is that we use them wisely.

CHARLES GIBSON: I'm trying to find out about you, though. As the chairman -- as the chairman of the board and the CEO of Exxon, do you have to drive up to the pump like everybody else?

REX TILLERSON: Oh, sure, yes. I have to drive up to the pump and swipe my credit card and watch the numbers go around. And it's always a bit astonishing.

CHARLES GIBSON: What do you think of these prices?

REX TILLERSON: Well, I think they're high, you know, and I think they're -- and, again, I know they're difficult for people. I -- I have friends and neighbors and people I see at church, and so I know how. You know, I hear from people. I know how tough this is on them.

CHARLES GIBSON: Mr. Tillerson, appreciate it. Thank you. Good to talk to you.

REX TILLERSON: My pleasure.

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