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  "notes": "The slide uses a series of quotes from John Hess and others to highlight a gap between stated strategy and actual financial performance.",
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      "text": "Historical cash flows tell a different story",
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      "text": "Shareholders have heard this too many times before: Our Company has always been disciplined, always has had the goal of living within our means.",
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      "kind": "quote",
      "text": "The key to [profitable growth] will be [that] we will be able to live within our means and deliver, I think, very attractive financial returns on a going forward basis as I said.",
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      "text": "“...The key to [profitable growth] will be [that] we will be able to live within our means and deliver, I think, very attractive financial returns on a going forward basis as I said.” — John Hess, July 2012; “Our Company has always been disciplined, always has had the goal of living within our means.” — John Hess, February 2009; “We want to live within our cash flow. We usually moderate the spending based upon what we expect the cash flow to be for the year.” — John Hess, February 2008; “Our finances, we want to live within our cash flow. If you look at our company’s past you’ll see that we’re pretty disciplined about that.” — John Hess, September 2006; “...We basically have a philosophy of managing the capital spend for the Corporation within the cash flows that the businesses throw off.” — John O’Connor, Fmr President Worldwide E&P Hess, January 2005",
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      "text": "Hess 2Q 2012 Earnings Conference Call, July 25, 2012; Credit Suisse Group Energy Summit, February 5, 2009; Credit Suisse Group Energy Conference, February 7, 2008; Lehman Brothers CEO Energy Conference, September 5, 2006; Hess 4Q 2004 Earnings Conference Call, January 26, 2005",
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      "text": "Unable to Live Within Cash Flow",
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