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Exxon's got competition: PetroChina now the first company worth over $1 trillion

Well, in case you were wondering if there was any money left in oil, put your questions to rest. The PetroChina company this morning became the first firm ever to be worth more than $1 trillion. A trillion dollars. How many zeros is that? Twelve. So, it looks like this: $1,000,000,000,000. Hell, I'd be happy with a trillion pennies. The insane value of this company happened this morning after an initial public offering of four billion shares raised $8.94 billion today, the first day they were up for trade. The absurd part is that those shares ... Read more →

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