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Exxon Mobil today issued an impressive second-quarter earnings report, with much of the good news again involving a surge in liquid natural gas production from Qatar. It's further proof that Exxon -- along with the rest of Big Oil -- has made a big bet that natural gas will be a growth engine for the company in the absence of opportunities in oil. Fast-growing Asia is the big market, with China leading the way.

Another week on and there has been no further leak from the BP Macondo well. Officials are now "optimistic" about preparations for a new attempt at a, with the initial step of pumping mud into the top of the well likely to begin as soon as Sunday. With the leak apparently under control, BP chose this week to announce the inevitable departure of its CEO Tony Hayward, whose replacement by the American Bob Dudley was vital for the company?s damage limitation efforts in the US...