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Friday, August 25, 2006

Tons of Cash for Energy Heavyweights

By Yaser Anwar, CSC of Equity Investment Ideas

Thanks to soaring energy prices, the world's biggest oil and natural-gas companies are sitting on mountains of cash. ExxonMobil Corp. had more than $32 billion in its coffers at the end of June - nearly equal to the combined stock-market value of General Motors Corp. and Ford Motor Co.

At the same time, Royal Dutch Shell PLC, Chevron Corp. and BP PLC had a total of more than $26 billion in cash.

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