Interesting corporate news that I can't help but see through a Q lens. Long story short, Exxon is under attack by an activist hedge fund that has only existed for six months. The hedge fund argues:

• Exxon has managed its finances poorly. Although this is true, we should consider that possibility of black hat sabotage deliberately mismanaging the company.

• Exxon needs to get "green" and move away from oil.

Recently, the hedge fund was able to install two of its people on to Exxon's board of directors. They did this with the help of Black Rock. Black Rock owns around 6% of Exxon via their index funds and ETFs. IMO, Black Rock and Vanguard have a dangerous amount of power via these index fund and ETFs, and Black Rock dictating policy isn't a good sign of anything.

IMO, this is yet another attack on American oil independence.

Sources:

• Campaign against Exxon: https://reenergizexom.com/

• Activist Hedge Fund: https://engine1.com/

• https://qz.com/2014413/engine-no-1-the-little-hedge-fund-that-shook-exxonmobil/

• https://www.reuters.com/business/energy/exclusive-blackrock-backs-three-director-nominees-challenging-exxons-board-2021-05-25/