Tuesday, April 21, 2009

Fortune 500: Exxon Mobil back on top

Fortune 500: Exxon Mobil back on top

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Displaced as Corporate Enemy No. 1 -- thank you, Wall Street bankers! -- Exxon Mobil regains the Fortune 500's No. 1 slot this year, despite the sharp fall in oil prices. Indeed, if the fourth quarter of 2008 demonstrates anything, it's that Exxon Mobil is perfectly capable of making billions of dollars even with oil at $50 a barrel or less.Two pressing questions for shareholders: Will Congress pass a cap-and-trade law that would crush oil profits? And should Exxon Mobil use its $31 billion cash pile to buy up smaller rivals with sunken stocks but attractive oil and gas reserves?

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