Exxon Got What They Deserved
发布时间 2021-12-15 20:00:08 来源
摘要
Exxon is one of the most iconic oil companies in the world-dominating the top of the fortune 500 for decades. Ever since Rockefeller's Standard Oil was broken up, Exxon was one of the leading oil companies, but over the past 7 years, Exxon has tumbled from the top. Though Exxon is still worth about $240 billion, that's less than 10% of the new market leader's market cap of nearly $3 trillion. Much of Exxon's downfall is not their fault as the last couple of years have been extremely tough for the oil industry. We've seen consistently declining oil prices and even negative oil prices momentarily. But, despite these challenges, resilient energy companies like Chevron have been able to excel nonetheless. So, there's no doubt that a lot of the downfall can be attributed to Exxon as well. Aside from poorly investing tens of billions into oil companies, borrowing to pay out dividends, and even allegedly downplaying climate change, Exxon has refused to embrace a renewable future. With that type of mindset, it seems like it's just a matter of time until Exxon ends up like Texaco. This video explains the reasons behind Exxon's downfall and the bleak future of Exxon.
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Timestamps:
0:00 - The Dire State Of Exxon
1:12 - Falling Oil Prices
3:11 - Negative Oil Prices
5:15 - Unwise Investments
7:05 - Dividend Legacy
8:33 - Bleak Future
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