Friday, May 09, 2008

Is ExxonMobil's future running dry?

Are we witnessing the death of ExxonMobil?

Strange question to ask with oil above $120 a barrel and ExxonMobil reporting $11 billion in first-quarter profits?

Not if you understand that ExxonMobil's management has bet the company. If that bet is wrong, over the next 15 years or so, investors will get to watch the gradual disappearance of ExxonMobil.

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