Exxon Mobil Corp. (XOM), the world’s
largest energy company, fell after reporting oil and natural gas
production declined to the lowest level in almost five years.
Exxon dropped 1.8 percent to $101.43 at 9:42 a.m. in New
York, the biggest intraday decline in five weeks. The company’s
oil and gas output decreased 5.7 percent to the equivalent of
3.84 million barrels a day, the lowest since the third quarter
of 2009, according to data compiled by Bloomberg. Exxon had been
expected to post output equivalent to 3.96 million barrels,
based on six analysts’ estimates.
Remember that 2005 was the year of highest production of liquid fuels ever. Three years later the market recognized it and the global economy crashed. This is the backdrop of everything you see and experience. It is the most important factor in your life you are barely aware of.
My background post BS was recruiting engineers for the automotive industry and then I moved on to finance. I had started investing for the first time during the .com boom and did quite well in very short order, thank you. And just as fast got burned. Being in finance I HAD to learn the markets in order to communicate with my high profile clients. Way leads to way and losses outweighing gains led me to understand how rigged the markets are. That's what led me to silver. That's now my goal, to teach others what I have learned.
All information provided on this blog are the personal opinion of the author. I am not a financial advisor nor do I promote the use of them save a very select few. All individuals are responsible for thier own decisions and I encourage all individuals to make decisions based on their own due diligence pertinent to their needs and comfort level. Knowledge just may be your salvation.