Jim Chanos: Oil majors increasingly look like 'value traps,' Reuters reports

Short-seller Jim Chanos of Kynikos Associates said that shares of international oil majors like Exxon Mobil (XOM) increasingly look like a value trap for investors as cash flows decline and return on capital slides. His comments came a week after Warren Buffett (BRK.A) disclosed a large position in Exxon, reports Reuters.