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Started By
Message
re: Chevron to Buy Hess for $53 Billion
Posted on 10/23/23 at 7:52 am to tide06
Posted on 10/23/23 at 7:52 am to tide06
quote:
Interesting all the big players in O&G are throwing huge money to double down on petroleum while the Democrats and bankers are trying to mandate the 2030 clean energy / climate change agenda.
Even in a fictional world where the US and western Europe go all green in the next decade, oil demand will still increase worldwide simply because India and China are emerging markets.
That is what the bigs are banking on.
1
Posted on 10/23/23 at 7:53 am to ragincajun03
Let’s just combine them all back into Standard Oil again.
Posted on 10/23/23 at 7:54 am to The Torch
quote:
When you drive by Halliburton on I-20 in Shreveport their yard is "full" of trucks and equipment which usually indicates things aren't going great.
Gas is low right now, so most Haynesville operators have scaled back the last 2 quarters of this year.
Expect things to pick up in a big way come 2024 and beyond with all the new LNG projects coming online.
Posted on 10/23/23 at 7:58 am to Salmon
quote:
Even in a fictional world where the US and western Europe go all green in the next decade, oil demand will still increase worldwide simply because India and China are emerging markets.
Ive heard them start to change their messaging from 2030 to 2040 even in relation to the western markets.
Tech just isn't there yet to switch to "green" especially if nuclear is off the table.
Posted on 10/23/23 at 8:00 am to tide06
Did amarada hess own the ny jets too?
Posted on 10/23/23 at 8:05 am to StringedInstruments
quote:
I’m sure the economics behind this are more complex than I care to understand, but it certainly rubs me the wrong way that while the majority of US citizens struggle to keep up with inflation, the big corporations always have a reason to be “flush with cash.”
We have to help the rest of the world first. Just like Pfizer is flush with cash because we bought everyone’s vaccines.
Posted on 10/23/23 at 8:07 am to dgnx6
Did this even make sense inside your own head?
Posted on 10/23/23 at 8:08 am to ragincajun03
Why do I think in the end very few will own oil & gas, then, miraculously, they will all go green and we won’t be able to get gas easily.
Posted on 10/23/23 at 8:12 am to ragincajun03
I think a whole lot more M&A is on the way.
Posted on 10/23/23 at 8:14 am to ragincajun03
I remember a lot of Hess stations in NJ and near NYC.
It was unforgettable that during the 1970's oil shortage and huge service station lines, they announced the release of millions of gallons of gasoline in the northeast on a Friday and magically all stations were open on Monday.
It was unforgettable that during the 1970's oil shortage and huge service station lines, they announced the release of millions of gallons of gasoline in the northeast on a Friday and magically all stations were open on Monday.
Posted on 10/23/23 at 8:15 am to Dixie2023
Consolidate and then constrain supply. Eat bugs and force public transportation living in government housing.
Posted on 10/23/23 at 8:15 am to ragincajun03
RIP Christmas Hess Truck
Posted on 10/23/23 at 8:20 am to thelawnwranglers
Who has BP merger info? Shaping up to be a busy 2024 for that company
Posted on 10/23/23 at 8:24 am to Macfly
quote:
I remember a lot of Hess stations in NJ and near NYC.
I still have about 5 Hess Trucks from my childhood. My Dad was obsessed with grabbing one every year
Posted on 10/23/23 at 8:34 am to StringedInstruments
quote:
I’m sure the economics behind this are more complex than I care to understand, but it certainly rubs me the wrong way that while the majority of US citizens struggle to keep up with inflation, the big corporations always have a reason to be “flush with cash.”
Producers have been reluctant to spend anything on new exploration or other line items between Biden getting elected / screwing with exploration and the market being screwy thanks to KSA and Russia manipulating prices and production.
The companies decided to spend a few years retaining their earnings rather than doing a big spend in the middle of a turbulent economic climate.
Posted on 10/23/23 at 8:38 am to Gaston
quote:
My son loved those Hess trucks when he was little
Worked a job for Hess and that was our gift for drilling the well in record time
I don’t like Hess
Posted on 10/23/23 at 8:55 am to Bob Sacamano
quote:
I think a whole lot more M&A is on the way.
A VP for an operator at a forum said this.
Posted on 10/23/23 at 9:01 am to Gaston
quote:
My son loved those Hess trucks when he was little. Those were the most detailed large trucks he had, probably had a dozen. They were super cool.
My son used to play with those too. I still have them and yes they were awesome.
Posted on 10/23/23 at 9:15 am to tide06
The euros have changed their stance completely since their energy costs doubled after the Russian “ban”.
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