Another oil giant has been born this week, as Devon Energy and WPX Energy announced an all-stock merger in a deal worth approximately $2.6 billion. While European majors signal a shift towards clean energy, American counterparts are bound to fail through a strategy which focuses on moonshots and acquisitions, so that they can occupy a larger share of an ever-shrinking market by doing what they do best – drilling for oil. The deal has been widely referred to as a merger of equals. While it will retain the Devon name, WPX shareholders will take over around 43% of the company after receiving 0.5165 shares for each of their shares in WPX, as well as five out of the 12 board…