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XOM - Occidental Petroleum: Despite The Big Stock Drop Better Opportunities Exist Elsewhere
Exxon Mobil Corporation
After the unwise takeover of Anadarko Petroleum, I penned a piece on Occidental Petroleum (OXY) and said it would be quite hard for the company to be successful given the high-level of debt it had to take on to purchase APC, the very high-cost 8% debt it took on from Berkshire Hathaway (BRK.A) (BRK.B), and the $1 billion breakup fee it (i.e. APC) had to pay Chevron (CVX) for backing out of the previously agreed upon deal. See OXY's Big Mistake: Overpaying For Resources In An Age Of Energy