Under Watson, a former financial analyst who took over the top job at Chevron in early 2010, the company has bet much of its future growth on deepwater drilling. While the risks of this
strategy were made starkly clear by rival BP's Deepwater Horizon disaster, it makes sense given that much of the world's onshore energy reserves are controlled by governments that
are growing reluctant to share revenue with supermajors. So far Watson's bet is paying off: Chevron stock rose 8.1% over the past year, more than competitors'.