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Message
re: BP Slashes Dividend For First Time In Decade
Posted on 8/6/20 at 10:56 am to Ramblin Wreck
Posted on 8/6/20 at 10:56 am to Ramblin Wreck
quote:
The one benefit that O&G majors are getting from COVID is that they are getting a real life look at what demand may be like in 25 or 30 years. This is their practice run to see how they shift production and spending.
This is right. What scares us is that we saw the demand collapse starting last year. We now see how bad it can be, and we've created a deficit to try and crawl out of. There are differing views of whether or not we can.
1
Posted on 8/6/20 at 11:21 am to Ramblin Wreck
quote:
The one benefit that O&G majors are getting from COVID is that they are getting a real life look at what demand may be like in 25 or 30 years. This is their practice run to see how they shift production and spending.
I don’t think that is true. Aviation fuel will likely be increased. More people will have time and resources to travel the world Quickly and cheaply. I don’t know if battery or solar technology will get there as there are physical limits that would be difficult to solve. Maybe you create some type of refueling point in the air? I don’t know
Posted on 8/6/20 at 6:41 pm to TulaneUVA
For example:
Sempra Energy bullish on hydrogen as California navigates natural gas future
Sempra Energy bullish on hydrogen as California navigates natural gas future
quote:
The effort comes as California regulators anticipate a drop in natural gas demand, due to a wave of local policies to reduce greenhouse gas emissions. Earlier this year, the California Public Utilities Commission (CPUC) opened a rulemaking that will eventually craft a long-term policy for the transition away from natural gas.
Posted on 8/7/20 at 11:53 am to RedStickBR
Here's another one:
California sued over climate change policy - by the nation's biggest gas utility
This bit is on point with my previous comments:
California sued over climate change policy - by the nation's biggest gas utility
quote:
Southern California Gas Co. is taking its battle with state officials over climate change policy to court, arguing in a new lawsuit that the California Energy Commission has failed to promote natural gas as required by state law.
The lawsuit, filed Friday in Orange County Superior Court, is the latest attempt by SoCalGas to shield itself against efforts to phase out gas, a planet-warming fossil fuel used for heating, cooking and power generation. The company, which maintains its headquarters in Los Angeles and is owned by Sempra Energy of San Diego, took in $4.5 billion in operating revenue last year.
A separate lawsuit was filed last week against the state’s Air Resources Board by the California Natural Gas Vehicle Coalition, whose two “charter members” are SoCalGas and Clean Energy Fuels Corp., which joined the gas company in its lawsuit against the Energy Commission. This lawsuit seeks to overturn the newly approved “advanced clean trucks” rule, which is aimed at putting 300,000 zero-emission trucks on the road by 2035.
The legal actions are part of a growing effort by leading players in the natural gas industry to defend themselves as public support increases for aggressive policies to wind down the burning of fossil fuels, not just in California but across the country.
This bit is on point with my previous comments:
quote:
Some clean energy advocates once embraced gas as a “bridge fuel” that could help economies transition from more polluting fuels, particularly coal, to renewables such as solar and wind power.
But climate emissions from gas are now rising faster than coal emissions are falling, according to the Global Carbon Project. Scientists have increasingly found that continued reliance on gas is incompatible with avoiding the worst effects of climate change, including more devastating wildfires, storms and heat waves.
This post was edited on 8/7/20 at 12:01 pm
Posted on 8/7/20 at 12:02 pm to o0 ecdysis 0o
Directly in line with your thoughts:
BP wants to become the world's largest renewables producer (but still pump a lot of oil)
Hence why, if you must have O&G exposure, my focus would be more on BP, Total, Shell, etc. than Exxon, Chevron, etc. This fund, for instance, is on point, in my opinion, as far as a pre-built energy allocation goes. Mind the currency exposure, though:
iShares STOXX Europe 600 Oil & Gas ETF
BP wants to become the world's largest renewables producer (but still pump a lot of oil)
quote:
“I think what this reflects is really a responsible assessment of where the world is going in terms of energy demand, where the opportunity for growth exists, and demonstrates that the company wants to remain an energy company, as opposed to an oil and gas company,” says Danielle Fugere, president and chief counsel of As You Sow, a nonprofit that focuses on environmental change through shareholder advocacy.
quote:
But it’s possible that the company may realize, based on the success of renewable investments, that a full transition away from fossil fuels can happen more quickly.
quote:
While renewable energy would grow without the company, it can also help the industry move faster. Oil giants “have the ability to bring a lot of resources to the table,” Fugere says. “That is what we need. We need that innovation, and we need a lot of money to be directed at clean energy, low-carbon energy. So I think that that is a good thing for the world.”
quote:
The decimation caused by the coronavirus crisis is instructive, says Fugere. “I think it was a demonstration of what’s to come. When demand falls, there is too much oil and gas in the world. What that means is a very steep decline in price, and companies are not producing value at that point. So I think it was an early warning, for the oil and gas industry. Those companies that are paying attention are making adjustments, because the world has to cut its demand for oil and gas, and to ignore the way the wind is blowing is putting investors in the company at risk.” European oil companies, she says, have been moving faster than American oil companies such as Exxon, which face more risk.
Hence why, if you must have O&G exposure, my focus would be more on BP, Total, Shell, etc. than Exxon, Chevron, etc. This fund, for instance, is on point, in my opinion, as far as a pre-built energy allocation goes. Mind the currency exposure, though:
iShares STOXX Europe 600 Oil & Gas ETF
This post was edited on 8/7/20 at 12:17 pm
Posted on 8/7/20 at 5:35 pm to RedStickBR
quote:
Hence why, if you must have O&G exposure, my focus would be more on BP, Total, Shell, etc. than Exxon, Chevron, etc. This fund, for instance, is on point, in my opinion, as far as a pre-built energy allocation goes. Mind the currency exposure, though:
We're 100% in agreement. I'll take a look at that ETF. Thanks for sharing.
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