Was CO2 hysteria a big factor in Exxon's $41 billion bet on natural gas?

Exxon Mobil Makes Big Bet on Natural Gas - NYTimes.com

Exxon Mobil spent $41 billion a year ago to acquire XTO Energy, doubling its natural gas reserves. And it is building up a massive liquefied natural gas capacity around the globe.
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That’s where the discussion gets really interesting. [William M. Colton, the company’s vice president for corporate strategic planning] thinks policymakers are one day going to put a price on carbon dioxide emissions, a debatable point of view, perhaps, now that cap-and-trade legislation looks dead in Congress and some anti-tax Republicans appear poised for victory on Tuesday.

“We tend to assume that at some point, various governments are going to adopt some kind of cost of carbon,” Mr. Colton said, adding that carbon emissions policy is “the elephant in the room.”

“That’s something we have to consider, and it’s another reason we see gas as growing,” he said.