No, it means , as always, the big European Companies, like Shell, Statoil , Total, and worst o all AGIP/ENI, unlike Exxon who have a real "Long Term" view, react to temporay market conditions and "Fads" and always "Buy High" and "Sell Low"

They do it all the time..come in late in the game and dont stick to their guns when the going gets tough.

Exxon, on the other hand, "Keep their eye on the target"..in the Oilsands, in Russia, world wide..thats why their profitabilty and project performance is some much better thah the European majors

Thats why a Guy Like Rex Tilerson is an excelent choice for Secretary of Stae