Not only did it record its biggest profit in one of the industry’s most turbulent years. That could have been a matter of a few well-placed bets. But from all accounts, the company is very well managed all down the line. From today’s NYTimes:
More than any other oil company, managers at Exxon emphasize a strict attention to containing costs, and are disciplined about their investments. As a result, the company manages to extract more dollars than its rivals out of each barrel that it pumps or refines.
Maybe we should hire them to oversee the stimulus package — and the bank bailout, for that matter.
