The economic fallout of the covid-19 pandemic has hit the oil industry hard, and Exxon in particular is feeling it. Internal documents show the company’s not expecting to make a grand recovery any time soon despite putting on a good face for shareholders.
On Wednesday, Chevron became the biggest oil company in America. It’s the first time Exxon and its predecessor, Standard Oil, haven’t occupied the throne since the late 1800s. RIP to a real(ly bad) one.
Spending 92 years doing anything is an accomplishment, so let’s cheers to Exxon Mobil Corp., which spent more than nine decades as a member of the Dow Jones Industrial Average, pillaging the planet, lying about climate change, and making rich people even richer.