Oil giant Exxon Mobil is enjoying the same momentum as the rest of the energy sector, posting a 151% year-over-year earnings gain for 2017 on revenues of $244 billion. The company closed out the year with a tax reform boost that resulted in a $8.38 billion quarterly profit. Although rising gas prices promise another strong year, Exxon–number 2 on our list–has so far not been growing as fast as others in the sector, which some attribute to a lack of capital investment during the downturn.
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News about Exxon Mobil
The attorney general says Exxon maintained two sets of financials, with the internal one understating the costs it cited publicly.
ExxonMobil bets a carbon tax would be better than complex rules and lawsuits.
Chevron, ExxonMobil, and Occidental Petroleum are joining the Oil and Gas Climate Initiative.
Government has to deal with the problem, said the judge. With the Trump EPA, that's unlikely.
The suit called for an abatement fund that would go toward cities affected by flooding.