re: Shell's renewables boss to leave after CEO strategy shift

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It bit them in the behind bigtime within 5 years

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Every move Shell has made in the US in the last 15 years has bit them big time.

-The decision to influence Motiva to expand Port Arthur by 300KBBL/day instead of 150 at PA and 150 at Convent left PA scrambling to find the regional talent needed to execute the project which went from $6B to $11B to complete. Also, PA has been hampered by hurricanes and other issues.

-Motiva was injecting cash into the US sites in terms of infrastructure to maintain some level of reliability, meanwhile, Shell chose the cheapest route in projects and little to no reliability at Norco and Deer Park.

-Shell deciding to opt out of the JV with Aramco and end Motiva. They fought over Convent and its ~5000 acres with Shell coming out on top, only to shut it down 3 years later.

-Selling off their interests in Deer Park to Pemex in 2020

-Their Beaver Creek ethane cracker and poly plant has lost billions on top of the billions they have invested to build it. Not to mention they have lawsuits filed against them for environmental exceedances.

Their last CEO was all in on whatever the European countries wanted which is why they went from about 20 refineries worldwide down to 5. Their board has commented that they aren't doing enough to combat climate change.

Their problem is they moved too quick to leave the traditional oil business to try to jump to being an electric company with no overlap. What they should have done was break up the company, or, just sold out US assets to Motiva. Saudi had the cash, Shell just had too much pride.

Investors see it, yet the Shell brass cannot.