Exxon Mobil has been ruling the news since its announced purchase of XTO Energy yesterday. But what does this really mean besides the obvious bigger company, oil giant, etc.? It means that for all of you who follow the energy/oil industry will now be forced to also follow the alternative fuel industry. By buying a natural gas company, Exxon Mobil has not only strengthened its top position on the Fortune charts, it has also pivoted everyone's attention to the natural gas industry, i.e., green industry.
Interestingly, mainstream media had different views of the merger, being considered as a complete paradigm shift in the energy sector. The Washington Post questioned how a big, process-driven company such as Exxon Mobil will strive to keep XTO's skilled workforce, while the New York Times emphasized on the M&A market, signifying that this could lead to many more mergers in the coming months, as the sector reconfigures and consolidates.
When the top ruler makes such a move, it is predicting and betting on where the future will move profit margins: Natural gas and Renewable Energy. Regardless of whether we have climate change legislation or not, the industry is gearing to move from a gasoline-driven economy to an electricity-driven one, produced by natural gas, renewable, solar, wind and water, and chances are the markets will sit up and pay attention. And so must job seekers. If the climate change summit didn't do enough to attract your attention, this news must. Notwithstanding Vice President Biden's announcement today that a green economy could produce as many as 900,000 jobs, it will serve us all well to note a shift in the way we do business and continue to upgrade our skills to remain visible in an increasingly (green) competitive job market.
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