After 92 Years, Exxon Dropped From Dow Jones

[melm00se]

17. Implications that need to be considered

Direct employment by the oil and gas industry: 1.9mm

Indirect employment supported by the oil and gas industry: 9.8mm

Taxes collected on oil and gas: while nailing down an exact number is a challenge, in Texas for FY2019, the gas industry paid $16 billion in state and local taxes and state royalties (or >7% of the total Texas budget). Some states would be hit harder than others due to their production status. Also, don't forget the gasoline excise tax at both the federal and state levels which fund a lot of transportation projects. The implications of this to state and local services are rather significant.

Costs - as mentioned up thread, petroleum is used for a lot of items and any changes in the industry could have significant financial repercussions.

I am certain that there are many others that are not listed here.