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The Energy Select Sector SPDR ETF (XLE), headed by Exxon Mobil (XOM), dropped by just over 25 percent in the week. Occidental Petroleum Corporation (OXY) lost more than 50 percent of its value during the week, before recovering on Friday.
Source: Seeking Alpha
XLE's Largest Holdings
Source: Yahoo Finance
In February, Larry D. Fink, Chairman and Chief Executive Officer of BlackRock, Inc., wrote, "Companies, investors, and governments must prepare for a significant reallocation of capital." He was referring more specifically to companies with climate and sustainablity risks, and that