It’s officially only 15 years old, but has already grown to be the largest company in the world (by revenue), perhaps that’s due to the fact that its roots are over 140 years old, and a company that big, rich and rotted in history makes for a perfect chance at a successful trade in Binary Options.
With early origins in Rockefeller’s “standard oil”, it is rather easy to see where a large part of its capitol comes from, as that company, while only in existence for about 40 years became so large, and had such control over the US market that it was forced to disband by the US supreme court in account of it being a monopoly and had what some considered to be reprehensible business practices.
When standard oil was broken up, it did so into 33 smaller, mostly regional companies, two of those were “humble oil” which later became Exxon and Socony (standard oil company of New York) which later became Mobil.
The two companies merged in 1999 to create the largest oil company in the US, and through a series of other expansions and purchases – the world.
The merger, however, was not without its issues as one might predict, and took over a year to complete, EU approval was granted after mobile sold off one of its subsidiaries due to concerns over market control and competition, US approval was somewhat more complicated, but came after Exxon agreed to sell off over 2000 gas stations, refineries, terminals, a pipeline and other assets.
Once completed, the merger created a business entity that is easily the world’s largest energy company that is not state owned, so large in fact that it produces about 3% of the world’s oil supply and just over 2% of its total energy, and experts believe that its current level of production can be sustained for another 12-15 years, making it a shoe-in to stay on top of the energy market for a long time to come.
One of the many difficulties facing Exxon Mobil is finding new sources of oil, which by all accounts, is beginning to run out, the company is also heavily invested in looking for newer sources of energy, but that search seems to not be satisfying its many critics who rely on past environmental sins…
Exxon’s most famous incident took place in 1989 when the Exxon Valdez struck a reef off the coast of Alaska, spilling about 11 million gallons of crude oil on a stretch of coast about 1,300 miles long, destroying a large part of the Alaskan marine wildlife, an environmental disaster it has yet to fully recover from.
The Valdez disaster might have been Exxon’s most famous public relation nightmare, but there have been others – in Baton Rouge, Yellowstone, Mayflower and others, In addition, ExxonMobil has been shown to take part in a massive misinformation campaign, aimed at denying the effects of global warming as a result of the use of materials such as oil, coal and various gases.
The reason we’re touching upon those environmental issues is simple: this is NOT done in order to convince you ExxonMobil is not a solid investment as one of your binary options, but rather to inform you of one of the major factors at play, and items you should note when trading.
The environmental issue plays a major role of ExxonMobil prices, as it does in that of all energy based companies – the need to maintain profitability by harvesting that which is easily available (oil) versus growing concerns from all corners of globe about the environmental issues resulting from the use of those deposits and the need to find sustainable renewable energy sources.
In addition, you should also consider the global economics at play here, not just local US conditions, world demand and supply are a vital part of the way Exxon Mobil prices might move so you should be mindful of those too.
Steer clear of any trouble, invest smartly in Exxon Mobil binary options and it’s entirely possible you might soon a supertanker for your profits!