From the wells to the pump, Exxon Mobil is all about oil. The company explores, produces, transports, and sells crude oil and natural gas.
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Oil has declined by 2/3rds. Stock has declined 20%. Exxon's earnings will be similar to that of 2004. Stock price will respond and head down. Exxon is a great company & will not go bankrupt, etc. It is just expensive, given the macro environment, price of oil and near-term earnings.