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re: Who is still holding O&G stocks?
Posted on 1/3/23 at 9:02 am to SlidellCajun
Posted on 1/3/23 at 9:02 am to SlidellCajun
quote:
Yeah no doubt BP had underperformed in the last decade, but think that are pretty lean at this point. Plus don't want to pay the taxes since it was held in a taxable account.
Think their transition to more renewables will help them medium term
That's the problem, they are sloppily abandoning oil & gas (which looks to have a great 5-10 years ahead after a miserable period from 2014-2020) and going full on into renewables (this is a European company after all). Making dumb overpriced acquisitions in the renewable space, doing projects with questionable economics, etc. Just incinerating capital.
They are more concerned with signaling "clean energy" than they are with making money / return on invested capital.
This post was edited on 1/3/23 at 9:03 am
1
Posted on 1/3/23 at 1:39 pm to Texas Tea 123
quote:
Texas Tea 123
Your description of BP reminds me why I’m nervous still holding on to some Shell stock. They have been kissing their European leaders asses the last few years and seem to forget that they need to focus on creating shareholder value.
Still very profitable in some areas, but wasting a lot in green investments that don’t seem like will be profitable for a very long time
This post was edited on 1/3/23 at 4:03 pm
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