When the S&P 500 index was created 90 years ago, the energy sector was one of its largest components and the company that came to be known as Exxon was the big dog in that sector. A decade ago, the energy sector represented 11.7% of the index. Today, it is just 4.4%, having been replaced increasingly by technology companies. When S&P published its latest numbers at the beginning of September, Exxon was no longer in the top 10 companies, for the first time in history. It has slipped to number 12 and now represents just 1% of the total index. Microsoft, Apple, and Amazon are ranked first, second, and third, respectively, according to OilPrice.com . The other companies in the S&P 500 represent information technology, communications services, financials, consumer discretionary, and health care sectors. Visa has now replaced Exxon in the Top 10 rankings. Bill McKibben celebrated the news with this tweet: Many thanks to all who’ve worked to undermine this most aggressively irresponsible of corporations–for the 1st time in the 90 year history of the S&P 500, Exxon drops out of its top 10 stocks https://t.co/SiMXNCK3Ss — Bill McKibben (@billmckibben) August 30, 2019 “The oil sector has gone […]

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