May 13, 2020
One (temporary) casualty of the economic downturn that has accompanied the coronavirus pandemic is poor Exxon Mobil, which lost $610 million in the first quarter. This was the first quarterly loss that the company had sustained since 1988.
Earnings from its oil and gas production fell 91 percent from the same period a year earlier.
For those who have watched the company deny its role in climate change for decades (including suppressing its own research showing the dangers of greenhouse gases) this news provides a small measure of schadenfreude. Tempered, of course, by the recognition that Exxon Mobil will be back to business as usual in no time.