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History of Exxon

The John D. Rockefeller corporation of Standard Oil was striving. However, when Ida M. Tarbell exposed the history of Standard Oil Company in 1904, causing the company to receive a bad reputation and rapport with the public. Things got that bad and out of hand that the government had to step in and press charges against the company. It took many years before a final decision could be agreed on.

In 1911, Standard Oil Company received judgment, from the United States Supreme Court, that they must end Standard Oil Company as it is and divide it into 34 companies. Jersey Standard and Socony, the Standard Oil Company of New York, were two of the companies. Ultimately Jersey Standard became Exxon and Socony developed into Mobil.

Over the years, Exxon and Mobil grew considerably. A Texas oil manufacture, Humble Oil & Refining, sold 50 % of their shares to Exxon. Around the same time frame, Mobil bought 45 % of Magnolia Petroleum Company that was already established, as a major refiner, marketer and pipeline transporter. Mobil merged with Vacuum Oil Company in 1931.

Exxon was thriving with their production and refineries, located in Indonesia, but they had no marketing networks setup. However, Mobil already had in place Asian marketing outlets who provided from California. Therefore, Mobil and Exxon combined their interest giving them a joint mission in 1933. The Vacuum Oil Company that Mobil merged with operates out of 50 countries. With this concept in mind, Mobil and Exxon received numerous marketing areas when Vacuum Oil Company dissolved in 1962.

In 1982, during a global warming conference, funded by Exxon, the head of Exxon research had commented that people have disbelief in the world coming into an energy transition with no longer needing to count on fossil fuel and toward renewable resources.

As a result, of an unexpected oil glut causing a downfall of oil prices in the mid-1980’s, Exxon was forced to get rid of some of their staff ultimately to save money. Some of those employees worked in the climate that continues to remain a factor and being a big part of the landscape. In November of 1999, Exxon and Mobil combined their corporations and became Exxon Mobil. Therefore, the merger gave the companies more creditability to work through the economy.

March of 2002, the science strategy and programs manager for Exxon, Flannery needed another emphasizing approach. Therefore, Flannery contacted the president’s associate for science and technology, John H. Marburger, and requested for him to give the company’s preferred method of emphasizing the uncertainty. In 2011, Exxon Mobil Corporation had a major gas discovery, in the Gulf of Mexico, while they were drilling a post-moratorium deep water research well. In 2015, during Exxon’s annual meeting, Tillerson said that it would be more beneficial to wait for additional solid science facts before acting on climate transformation. If we act too soon without having enough solid science, the results could turn to something unexpected giving us different outcomes than we originally thought would occur. Today, Exxon Mobil continue to make products for modern transportation, power cities and lubricate industries.

Posted in Oil