George Reyes, the chief financial officer, said that capital expenses would probably increase over time.

The company said it would slash its capital expenses by $671 million in the next five years.

But he added that the Bush administration had not proposed any percentage division in capital expense.

"Trucks and real estate are the two major capital expenses we need to buy in this industry," he said.

In truth, the indictment says, only 39 percent of the money was used for capital expenses.

Estimates of the capital expense are being drafted now, he said.

"But going forward, they won't have to continue the same capital expenses."

Exxon's capital expenses have increased more than 30 percent since 2002.

They also want solid management and significant free cash flow - what is left after capital expenses.

We think people are putting capital expenses into their budget for next year.