Big Oil Dominates Fortune 500

Although retail giant, Wal-Mart has reclaimed the top spot on the latest Fortune Global 500 list from Exxon, Big Oil dominates the top ten.

Exxon is number two on the list, Shell is at three, BP at four, Chevron is number seven, ConocoPhillips is number nine and Total is number ten. Also in the top ten are three car companies: General Motors, Toyota Motor, DaimlerChrysler.

“Just a few years ago Fortune was predicting that high-flying tech companies would soon displace the oil and auto giants that had been hogging the limelight at the top of the Global 500,” says Fortune reporter Telis Demos in his introduction to the list that will be published in its next edition.

He continues: “Well, look who’s still riding high: Six of the top ten companies on this year’s list are pumping petroleum, and three more are making vehicles that burn it. True, Wal-Mart regained its title as the world’s largest company, at $351.1 billion in revenue…But the big story was oil.”