Exxon, Chevron Count Every Dollar to Protect $40 Billion Hoard

Exxon Mobil Corp. and Chevron Corp., their coffers swollen by last year’s record oil prices, are maneuvering to preserve a combined $40 billion in cash amid a global financial crisis that roiled the banking system. Full Story »

Posted by Jim Lang
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Subjects: U.S., Business, Sci/Tech
Topics: U.S. Economy, Energy
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Posted by: Posted by Jim Lang - Mar 27, 2009 - 5:29 AM PDT
Content Type: Article
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Edited by: Jim Lang - Mar 27, 2009 - 5:29 AM PDT

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Kristin Gorski
3.4
by Kristin Gorski - Mar. 27, 2009

This seems a significant scoop: the head of the "world's biggest company by market value" is publicly expressing quite a bit of worry about Exxon Mobil's cash holdings. An outside perspective on Exxon's current maneuverings regarding this cash would provide needed context to frame the meaning of it. There are definitely hints that there is more to this story, but the reporter hasn't gotten there (yet?).

“Relative to the financial markets, the biggest challenge we’ve had is making sure all the cash is there every morning,” Tillerson said in a presentation this month ... More »

See Full Review » (12 answers)
Patricia L'Herrou
3.4
by Patricia L'Herrou - Mar. 27, 2009

this seems a study on oil companies potential downfall in profits based on the financial crisis at the moment and lower price of gas. there's no other voices here for real analysis of what this may or may not mean for the future of oil prices, energy costs, etc., nor any mention of what is may mean to lose the government subsidies to oil companies, which would have made it a better story..

See Full Review » (9 answers)
Jim Lang
3.9
by Jim Lang - Mar. 27, 2009

This article provides a well sourced look big oil companies' current problem -- protecting their hoards of cash from last year's profits in today's volatile and declining economy. The article points out that the cash will be necessary to support capital projects and acquisitions during the coming year as their profits are projected to decline.

See Full Review » (11 answers)

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