re: With No Strategic Reserve To Help Him, What Will Joey Do?

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Massive investment as you stated is one company divesting itself to another company shoring up its balance sheets for hard times.

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That is not what's happening. Again, the article I responded to said "Big Oil" wasn't spending money. They are spending money, buying locations/inventory.

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There has not been a refinery built in 50 years, maybe ask yourself why?

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Separate issue, but, yes, a long running issue .

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Hess of all companies is a great example of things not being the example you think it is . They were known to profit share with big big bonuses to even the smallest of employees because of their ability to earn profits. That they are selling says a lot plus employees will no longer get those 100K bonuses

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Hess is being bought by CVX, (depends on XOM's preempt rights in Guyana) - they are investing. Hess' motivation or outcome doesn't matter relative to "Big Oil" making big investments in oil.

But Hess is selling bc there are no more competent Hesses to run the business.