Oil discovery has always been one of the surest and quickest ways to earn quick cash. The Beverly Hillbilies comically portrayed the lives of a family who had done just that: struck oil and became wealthy. Since then, oil has remained a powerful commodity since it is necessary as fuel.

It was on this day, December 1st, in 1998 that Exxon and Mobil merged to create ExxonMobil Corporation, the largest oil and gas company in the world.

Exxon Corp. and Mobil Corp. announced their plans to join forces in order to compete with other fuel companies. Lower oil prices and higher costs of discovering new oil reserves forced both companies to cut wages and spending. The merger was therefore meant to reduce their joint expenses. The $80 billion deal created a massive entity that could rival other oil producers around the globe.