After spinning off its CST brands last year, the company reported revenue just over $138 billion last year, about $1.2 billion short of 2012's report. That was enough to drop the company one spot on the IW U.S. 500 list.
Though it reported an overall increase in profitable volume growth last year, crude oil prices helped Marathon Oil lose over $1.3 billion in revenue in 2013, sending it spiraling down 10 spots on the list.
This one may be misleading. By year's end ConocoPhillips recorded total revenue of a little over $56 billion, over $4 billion less than 2012. At the same time, however, the company was nearly doubling its total production, which took a toll on the bottom line.
Chevron – the second-largest manufacturer in the U.S. – was hammered by losses last year. Citing low crude oil prices and a few weak business moves, the company recorded a $13.7 billion drop in revenue and another $4.8 billion loss in net income.
After a full year of business reformation on its way to becoming a dedicated exploration and production company, Hess Corp. reported a $14 billion dip in total revenue, enough to drop it 16 positions on the list.
Murphy Oil plummeted down the IW U.S. 500 this year, falling 145 positions from a healthy 45 in 2013 to 190 this year. That's based on a staggering $23 billion negative revenue change, making it one of the biggest crashes on the list this year.
If any of this really seems to mean anything good for the alternative energy market or gives any hope to significant changes for the industry any time soon, Exxon Mobil's numbers might provide a sobering wakeup call.
Exxon Mobil's revenue dropped nearly $43 billion last year – a loss more valuable than the total revenue of any U.S. company ranked below 32 on the IW U.S. 500. On top of that, it recorded over $12 billion less in net income than the previous year.
But that wasn't enough to knock it from its position at the top of the list. Not even close.
Even with these losses, Exxon Mobil's total revenue is still $31 billion more than that of No. 2 and No. 3 combined. It is still 2.5 times bigger than Apple's, which is the first non-petroleum company on the list.
And that tells us a number of things. Primarily, it tells us that, however promising new energy technologies may be, and however exciting the future they suggest may be, they still have a long, long way to go before they can hope to take down giants like this.