Kazakhstan journal for oil & gas industryKazakhstan journal for oil & gas industry2707-42262957-806XKMG Engineering9563810.54859/kjogi95638Research ArticleFundamental reasons for Exxonmobil’s expulsion from the Dow Jones industrial average on aug 31, 2020: lessons and implications for the global oil market and KazakhstanKulekeevZh. A.zh.kulekeyev@niikmg.kzPakYe. A.zhenyapak@aerc.org.kz15092020231011112912202129122021Copyright © 2020, Kulekeev Z.A., Pak Y.A.2020<p>This article provides a reasonable explanation for Exxonmobils unprecedented expulsion from the Dow Jones Industrial Average on August 31, 2020 based on the Kondratieff Wave Concept and Capital Overaccumulation Theory.</p>
<p>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.</p>Dow Jones Industrial AverageKondratieff Wavesoil industry prospectsrenewable energyиндекс Доу-Джонсонадлинные волны Кондратьеваперспективы нефтяной отраслиальтернативная энергетика[Бардашевич А.Н. Проблемы модернизации и перехода к инновационной экономике. - Проблемы современной экономики, 2018, №1.][Официальный сайт British Petroleum: www.bp.com][Кулекеев Ж.А. Какие уроки от нефтяного кризиса может извлечь Казахстан. - Forbes Казахстан, 20 апреля 2020 г., материалы сайта URL: https://forbes.kz//process/ energetics/kakie_uroki_ot_neftyanogo_krizisa_mojem_izvlech_kazahstan/?][Хасанов Б.К., Кулекеев Ж. А. Обзор нефтяного рынка за июнь 2020 года. КМГ Инжиниринг - Нур-Султан, 2020, материалы сайта https://aerc.org.kz /images/blogs/ 2020/07/17/%D0%9E%D0%91%D0%97%D0%9E%D0%A0%20%D0%B7%D0%B0%20 %D0%B8%D1%8E%D0%BD%D1%8C%202020.pdf][Официальный сайт Международного Энергетического Агентства: www.iea.org][Официальный сайт ОПЕК: www.opec.org][Global Trends in Renewable Energy Investment 2020. - Frankfurt School-UNEP Centre/BNEF, 2020, 80 р.][Messler D. The Start of a New Oil Market. - Online Journal Oilprice.com, Sept. 2020. URL: https://oilprice.com/Energy/Energy-General/The-Start-Of-A-New-Oil-Market-Supercycle. html][Н.Д. Кондратьев: кризисы и прогнозы в свете теории длинных волн. Взгляд из современности. Под редакцией Гринина Л.Е., Коротаева А.В., Бондаренко В. М. - Изд. «Учитель», М., 2017, 380 с.][Официальный международный статистический ресурс Our World in Data: www. ourworldindata.org]