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

Bloomberg by Joe Carroll | Mar. 25, 2009 (News Report)

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 »

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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.

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