Why Exxon is out of gas

So what is ExxonMobil, the world’s most profitable company, doing with the cash bonanza it has received from record oil and gas prices? Giving it back to shareholders, according to the Business Week story, Pumping Oil, Not Cash. Exxon and other big oil companies have decided that it’s less risky to simply buy back their own shares to boost stock prices than it is to put money at risk by investing it in their core business to increase production and grow earnings the old fashioned way.

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