Exxon (NYSE:XOM), Chevron (NYSE:CVX) Drag on Equities

Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) are weighing on the Dow today, led by Exxon, which announced it had added 3.5 billion barrels of oil equivalent to its proven reserves in 2010. That replaced over 200 percent of its 2010 production.

Shares in Exxon Mobil dropped 1.9 percent in response to the news, helping pull the Dow down 38 points.

That caused a domino effect in energy, with Chevron also falling, aided by the news a judge in Equador ordered the company to pay $8.6 billion to clean up alleged oil pollution in the rainforests of the country.

The corruption in Ecuador is so great it's questionable as to the validity of the ruling and if it'll even be collectible.

Exxon was trading at $83.06, down $1.85, or 2.18 percent, as of 12:21 PM EST. Chevron was trading at $96.46, down $0.49, or 0.51 percent, as of 12:22 PM EST.