Editorial: Energy Taking A Byte Out Of The Apple
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"I buy oil every day; iPads, you buy every couple of years."
Almir Barbassa, CFO, Petrobras
Last Friday, supermajor ExxonMobil once again became the world’s most valuable company as tech giant Apple took a two per cent dive in the stock market.
At $417.4 billion and $414.4 billion, Exxon and Apple respectively are both larger than the economies of South Africa, Denmark, Nigeria and 165 other countries.
Both employ around 80,000 people worldwide, are headquartered in America’s two most populous states and have a net income of around $41 billion per annum.
The parity of these two colossi in the world of finance is palpable but let us not conflate money and power in this instance, consumer electronics with core commodities, essentials with desirables.
Need-to-have sets foreign policy, nice-to-have plays music from your pocket....
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