It's hard to find too many bad things to say about
Exxon Mobil (NYSE:
XOM).
Not only does Exxon have the best historical returns on capital of the
energy majors, the company also has established itself as an efficient
converter of oil and gas to cash flow and dividends. Though costs are
rising, returns on energy projects are falling, and production growth is
not looking very robust. Exxon can still fill a role as a go-to energy
major for investors who want exposure to the energy space.
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