Abstract
The article provides a reasonable explanation for Exxonmobil's unprecedented expulsion from the Dow Jones Industrial Average on August 31, 2020 based on the Kondratieff Wave Concept and Capital Overaccumulation Theory. Authors of this paper suggest that the crisis in the oil market in 2020, triggered by the coronavirus, was expected and could be explained by the economic origins of development, namely, the change of the 5th technological mode to the 6th one. Taking into account the fact that oil is the main energy source of the 5th technological mode, it is obvious that its change will affect the oil market. At the same time, the process of the oil market losing its positions is not spontaneous, since the intensive development of new technologies and a sharp increase in renewable energy investments have led to a decrease in oil consumption.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
