The world is in eternal flux – and exposed to change. Do we want big energy companies? Do you see a lot of innovation coming from them except for giant projects? Those giant projects harden old structures and make an industry brittle. Giant industries always remind me of dinosaurs a bit. They will have to be pared back. I have seen quite a number of biggest companies in my lifetime and more than once I have seen that a no-name smaller competitor has eaten a giant from the inside. Oil and Gas companies will have to reform deeply, they will have to find their mojo again and take the fight instead of ducking every single challenge. Those that don’t shall go away. I won’t mourn them. There will be greener grass growing on their corpses. Oh, its the cloud companies that are the dinosaurs now. How does that augur for their futures?
The swap of Exxon for Salesforce on the Dow Jones Industrial Average may say more about the energy sector than about the company itself.