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Message
re: Exxon was the world's largest company in 2013. Now it's being kicked out of the Dow
Posted on 8/25/20 at 7:20 pm to DirtyHarry
Posted on 8/25/20 at 7:20 pm to DirtyHarry
pigs get fat, hogs get slaughtered
adapt or die
adapt or die
0
Posted on 8/25/20 at 7:21 pm to DirtyHarry
someone didn’t pass their operator exams 
Posted on 8/25/20 at 7:23 pm to boosiebadazz
quote:
Thanks a lot, JBE
quote:
Not at all. Just calling a spade a spade.
Posted on 8/25/20 at 7:25 pm to Klark Kent
Risk assessments, running to failure, people in charge that made it due to saying what bosses love to hear, turnaround budgets cut to get that pat on the back-nah-I’m very familiar with XOM operations.
Posted on 8/25/20 at 7:27 pm to Street Hawk
quote:
Tesla is the 21st century GE
What in the actual f$&k?
Posted on 8/25/20 at 7:29 pm to Street Hawk
That’s called market manipulation
Says more about Wallstreet than Exxon
Says more about Wallstreet than Exxon
Posted on 8/25/20 at 7:30 pm to DirtyHarry
quote:
I’m very familiar with XOM operations.
I bet you are..
Posted on 8/25/20 at 7:36 pm to Street Hawk
quote:
But Exxon is now a shell of its former self.
:rimshot2:
Posted on 8/25/20 at 7:36 pm to Street Hawk
And my Company is back in 
Posted on 8/25/20 at 7:37 pm to boosiebadazz
Are you saying the litigious nature of the state does not have an effect on business in Louisiana?
Posted on 8/25/20 at 7:39 pm to Street Hawk
Oil is a dying industry that already saw its crescendo.
Posted on 8/25/20 at 7:40 pm to The Third Leg
quote:
Oil is a dying industry that already saw its crescendo
obvious troll is obvious
Posted on 8/25/20 at 7:41 pm to The Third Leg
13% of the world still doesn’t have running power. just stop.
Posted on 8/25/20 at 7:41 pm to Shaken not Stirred
Rex Tillerson needs to go back and restore them to their glory days
Posted on 8/25/20 at 7:45 pm to ccomeaux
quote:
That’s called market manipulation
Says more about Wallstreet than Exxon
Posted on 8/25/20 at 7:46 pm to Klark Kent
quote:
13% of the world still doesn’t have running power. just stop.
The Telsa fan boys think we are going to run that on wind and solar. Not to mention that the vast majority of the world's population lives 25+ years behind the US.
It will take 20+ years to have a majority of passenger vehicles in the US on electric and that still runs on the power grid.
Posted on 8/25/20 at 7:53 pm to fallguy_1978
quote:the problem isn’t the decline in usage imo, it’s the fact that the shale boom and fracking proved how easy it is to extract oil and led to multiple huge discoveries worldwide. There is just too much accessible oil to justify $100+ barrels right now.
Our fossil fuel usage might have peaked out but it's not going anywhere in any of our lifetimes.
Posted on 8/25/20 at 7:57 pm to Street Hawk
—deep concern about the climate crisis.
Bwaaaaa hahahaaaa. Yeah, that’s the reason
Bwaaaaa hahahaaaa. Yeah, that’s the reason
Posted on 8/25/20 at 7:58 pm to Captain Crackysack
quote:
it’s the fact that the shale boom and fracking proved how easy it is to extract oil and led to multiple huge discoveries worldwide. There is just too much accessible oil to justify $100+ barrels right now.
The problem was the easy Wall Street money that flooded to operators with no chance of making a profit. They produced a ton of oil but very few have made money extracting it from shale. They flooded the natural gas market and then did the same thing to oil. The market was finally at the beginning of an adjustment due to a lack of new capital availability when covid hit. Low interest environments cause Mal-investment and the oil industry isn’t immune to this as the last few years have shown.
This post was edited on 8/25/20 at 7:59 pm
Posted on 8/25/20 at 8:03 pm to Captain Crackysack
quote:
the problem isn’t the decline in usage imo, it’s the fact that the shale boom and fracking proved how easy it is to extract oil and led to multiple huge discoveries worldwide. There is just too much accessible oil to justify $100+ barrels right now.
Yeah, AFAIK we haven’t seen a decline in demand outside of the recent drop, which is attributable to COVID. Slower growth, sure.. but I’m not aware of an actual global decline. Although it’s been a while since I really dig into EIA reports.
Everything from 2014-early 2020 is really a supply-side issue. US oil production doubled from 2012 to 2019 and almost all of that was shale.
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