I think one factor the article doesn't mention is how alternative opportunities change at oil companies depending on the oil price. When oil is at $30/bbl, havi

I think one factor the article doesn't mention is how alternative opportunities change at oil companies depending on the oil price. When oil is at $30/bbl, having a job at a big, boring, stable company like Exxon is very attractive. No one else in the industry is hiring, small companies are going under, there is motivation to keep your head down and ride it out. When oil goes to $100 a barrel, there is a sudden explosion of opportunities for people with the right education and experience at a company like Exxon. They're looking at all these alternative things they could be doing for similar or better pay and start thinking about all the things that have annoyed them at the company. In other words, maybe Exxon has an unusually stuffy or toxic environment for the industry, but I think a bigger factor might be that Chris Rock line "Men are as faithful as their options." Workers are as loyal to their employers as their options.