Fittingly, given the swings in fortune in the modern economy and stock market, Exxon is being replaced by a technology company:. And, a more successful company of late than Exxon, is now the Dow's sole oil company. Dividend doubts at ExxonBut the shakeup in the Dow isn't just about the troubles of the energy industry broadly. At a time when Wall Street is demanding discipline from oil companies, Exxon is spending heavily to ramp up its production in the Permian and develop offshore projects overseas. "It's a PR problem for energy companies," said Ben Cook, portfolio manager at Hennessey BP Energy Fund.

Source: CNN August 25, 2020 17:03 UTC