You are writing this report about Exxon Mobil Corp. (NYSE: XOM) as an equity analyst, preparing this report for your superior, a portfolio manager for a mutual fund company. The Value Line Investment Survey that you will use has $101.36 as the current closing price for Exxon's common stock. That was the stock closing price on May 27, 2014. Therefore, you will write this report as if you were on May 27, 2014.

Industry Outlook: the Industry Analysis goal is to determine the outlook of the primary industry the firm is engaged in. Identify the driving forces that cause the industry to change are called driving forces. Long-term industry growth rate, regulatory changes, product innovation, changing attitudes, and lifestyles are common driving forces. Some of the questions to be answered are: Do you expect industry growth tendencies to change? Has the number of competitors increased, decreased, or remained stable? Is there any industry-specific regulation as regards product safety? Are there any major technological threats from substitute products? Is the industry dependent on a few big buyers? Is the industry dependent on supplies of key commodities?