One would think that with the fall in oil
prices, an economy that has decreased the amount of travel on the road
and in the air by record numbers and a real global push toward hybrid
vehicles that this wouldn’t be the year that an oil company would find
itself number 1 on Forbe’s list of Fortune 500 companies. One would think…
However, the list, released in mid-April, has Exxon Mobil knocking
Wal-Mart out of the top spot by posting a revenue of $442.85 billion
dollars, with profits of $11.4 billion. Yes, billion.
Two other oil companies, Chevron Corp. and Conoco
Philips, were listed in the top ten as were automakers General Motor
and Ford Motor.
Forbes
did say that 2008 marked the worst economic performance for America’s
biggest companies in the magazine’s 55-years history, with earning
dropping nearly 85% from the previous year.
The oil companies all proved they were able to
generate revenue despite the downturn, but that may be in jeopardy if
congress passes a cap-and-trade law that would smash their profits.
For you and your fleet, that could mean that oil
companies try and find their money in other places sooner than
later…like the pump.
Gas prices have been pretty stable the past few weeks, but with summer months on the way, that could change before you know it.
We’ll keep you posted.
For Forbes complete list of Fortune 500 companies, check out CNN’s Money page.