Exxon Mobil Corp. is about to incur the biggest writedown in its modern history. (Bloomberg) — Exxon Mobil Corp. is about to incur the biggest writedown in its modern history as what was once an exemplar of American capitalist might shudders under the weight of debilitated energy markets. Exxon — already hobbled by cratering crude prices, a global supply glut and a pandemic-driven collapse in fuel sales — on Monday disclosed it will write down the value of North and South American natural gas fields by $17 billion to $20 billion. At the top end of that range, it would represent the industry’s steepest impairment since BP Plc’s 2010 Gulf of Mexico oil spill that killed 11 workers and fouled the sea for months. Meanwhile, capital spending will be drastically reduced through 2025. The announcement comes in the waning days of a grueling year for Chief Executive Officer Darren […]