Today’s Solutions: December 02, 2021

In another sign that times “are a-changing’, the Dow Jones has dropped Exxon Mobil from its influential index.

Why does this matter?

Well, the Dow Jones Industrial Average is the classic blue-chip stock index. Exxon Mobil is an iconic blue-chip stock and the longest-tenured member of the index. Exxon’s exclusion represents a big drop from the days where oil companies were kings of the stock market.

The change is driven by Apple’s decision to split its stock, according to S&P Dow Jones Indices, which is responsible for the Dow. Its impact on Exxon will be more symbolic than substantive. But it reflects just how once-dominant Exxon has diminished.  Many oil companies are struggling on the stock market as climate concerns mount, Silicon Valley stocks massively outperform petroleum, and the coronavirus keeps global oil demand well below expectations. Then Exxon and Mobil merged in 1999, it was the biggest merger in history, creating the world’s largest privately-held oil company.

For years, Exxon Mobil was the world’s largest publicly-traded company. Today, after the long rise of the tech giants and the abrupt collapse of the oil market, there are some three dozen companies more valuable than Exxon. And with time, there will be a whole lot more.

Solutions News Source Print this article
More of Today's Solutions

Online mushroom hotline puts the power of crowdsourcing in poison control

Ninety nine percent of mushrooms are non-toxic, but the one percent which are can have fatal consequences if accidentally ingested. For people with pets or young children, a seemingly harmless patch of fungi in the ... Read More

30 White rhinos make record journey to Akagera national park

White rhinos are classified as near threatened, with numbers dropping due to poaching. In a bid to improve the outlook for the species, 30 of these giant animals recently made the journey from South Africa ... Read More

This cutting edge camera is the size of a grain of salt

Micro-cameras are used in virtually all industries. In the medical field, these tiny cameras have helped facilitate less invasive medical imaging practices and improved robotic surgical tools. Structures of molecules and neural pathways have been ... Read More

Research shows gestures take the guesswork out of learning a new language

It’s common knowledge that picking up a new language is easier as a child, while your brain is still flexible—but learning a foreign tongue as an adult is another story. Well, according to new research, ... Read More

This impact-absorbing technology will save lives (and traffic poles)

Crashing a vehicle is already a traumatizing and possibly fatal accident, but if the object that the vehicle collides into is a rigid street light pole that snaps off its base due to the impact, ... Read More

New York City opens the country’s first safe injection site

Harm reduction strategies are gaining traction as a more effective way to quell the ever-growing opioid crisis. These strategies, like making clean needle exchanges available and decriminalizing drug possession, understand that criminalization alone will not ... Read More