Another milestone has been passed in the decline of the oil and gas industry with Exxon Mobil now removed from the Dow Jones Industrial Average. Historically the Dow consisted of heavy industries, manufacturing, and transportation, then oil and gas rose up, but they’ve now been replaced by global technology firms. Energy fossil fuel stocks have been declining since 2015, with a 35% dip last year as the broader market rose by nearly 20% (along with shares in major renewable energy firms).
ExxonMobil came together in a merger on 30 November 1999. Tr Saturn is exactly in an enthusiasm-denting square to the Jupiter now and next month – and although tr Pluto will move into overdrive in 2021/22 as it squares the EXXM Jupiter for a hefty push, there are other less favourable indicators. The tr Uranus in Taurus square tr Saturn in Aquarius in 2021 usually associated with an economic downturn will hit the ExxM Saturn in Taurus square Uranus in Aquarius throughout the year. 2024 to 2027 will be even more discouraging with the Solar Arc Saturn opposition first the Sun and then Pluto.
Chevron, 9 September 1879, the only oil company to remain on the Dow for the time being, while not doing well, with 28% drop in stock price over the past year, is in marginally better shape than others in the industry. It’s slogging through an exceptionally tough four years with tr Pluto trine its Mars Pluto in Taurus since 2019. And will be just as rattled if not more so than ExxonMobil by the tr Uranus square tr Saturn in 2021 as it impacts on their Neptune in Taurus. 2022 will see tr Saturn in Aquarius square the Mars Pluto for mishaps and significant setbacks. And 2023 to 2025 will be exceptionally insecure as tr Uranus is conjunct the Mars Pluto conjunction.