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re: Oil prices and esg scores
Posted on 6/7/22 at 4:30 pm to Big Scrub TX
Posted on 6/7/22 at 4:30 pm to Big Scrub TX
quote:
Nah. Domestic energy production and infrastructure are growing on a monthly basis - and will continue to grow indefinitely. No matter what any of them say, the oil and gas are going to be flowing here bigly.
In the near term, this will be the case. I just don't think any of these companies are interested in deferring the cost of future investments. Prices will remain high no matter how historical supply numbers traditionally affected prices. It doesn't make sense for companies to count on future revenue as part of their investment in a hostile environment, especially when the government, and in some cases members of your own board, want to eliminate your product.
1
Posted on 6/7/22 at 4:30 pm to billjamin
quote:
It's a thing, but its not the main culprit. That would be a decade of irresponsible use of capital.
Upstream oil and gas yes.
Downstream refining? No. Why can’t we build more refineries to make more gasoline, diesel, and jet fuel if it’s simply irresponsible utilization of capital?
Posted on 6/7/22 at 4:34 pm to Salmon
quote:
Signed, someone that manages, tracks, and analyzes the "E" side of ESG for O&G
Posted on 6/7/22 at 4:36 pm to Salmon
quote:
but I'd say that federal regulatory pressure and the uncertainty surrounding that pressure is the main culprit.
Wouldn’t this primarily fall under E in the ESG scoring? I mean, the regulation is almost entirely environmental regulation
Posted on 6/7/22 at 4:37 pm to jnethe1
quote:
What would be the number one issue then? Just curious
The US and Europe shuttering 2,000,000 bpd refining capacity in the last 2 years for, wait for it, environmental initiatives (mostly).
Posted on 6/7/22 at 4:43 pm to upgrayedd
quote:I think this is a massively overstated effect. Lots of rhetoric, but no follow through. The industry really did abuse its investor base over the past decade - and it's taking awhile to regain trust. The ESG effect is quite real, but that's not going to last. People are too greedy. There's simply no way these IRRs will be ignored in the long-term.
It doesn't make sense for companies to count on future revenue as part of their investment in a hostile environment, especially when the government, and in some cases members of your own board, want to eliminate your product.
In any event, the political winds themselves are quite likely to shift - possibly even this year.
Posted on 6/7/22 at 5:21 pm to jnethe1
ESG is fricking leftist brainless garbage.
Posted on 6/7/22 at 5:24 pm to Big Scrub TX
quote:
I think this is a massively overstated effect. Lots of rhetoric, but no follow through. The industry really did abuse its investor base over the past decade - and it's taking awhile to regain trust. The ESG effect is quite real, but that's not going to last. People are too greedy. There's simply no way these IRRs will be ignored in the long-term.
In any event, the political winds themselves are quite likely to shift - possibly even this year.
I hope you're correct, but I think there was significant effort invested into getting people in place to ensure these policies and prevailing attitudes are a permanent fixture.
Posted on 6/7/22 at 5:29 pm to upgrayedd
quote:How/where? The current energy secy is a clueless dolt who will be gone fairly soon. I just don't see any way the US doesn't press its massive advantage in this area for years to come.
I hope you're correct, but I think there was significant effort invested into getting people in place to ensure these policies and prevailing attitudes are a permanent fixture.
Posted on 6/7/22 at 5:43 pm to Big Scrub TX
quote:
How/where? The current energy secy is a clueless dolt who will be gone fairly soon. I just don't see any way the US doesn't press its massive advantage in this area for years to come.
Federal departments are run by career employees. They overtly state time and time again that whoever is in office or the head of that dept is irrelevant. The biggest point is that the people who run these departments are almost all of a certain political persuasion and they'll do whatever they can in order to push their preferred party's agenda. IIRC, Exxon's board was also taken over by climate activists.
Posted on 6/7/22 at 5:49 pm to Oilfieldbiology
quote:
Wouldn’t this primarily fall under E in the ESG scoring? I mean, the regulation is almost entirely environmental regulation
No, not really. Most of the metrics have nothing to do with regulations, but rather internal goals/metrics that the companies impose on themselves.
Most of the companies pimping their ESG scores are already going well beyond regulations.
Posted on 6/7/22 at 6:33 pm to upgrayedd
quote:I'm not saying it's not worse than it might have been before, but I'm skeptical it will do much.
Federal departments are run by career employees. They overtly state time and time again that whoever is in office or the head of that dept is irrelevant. The biggest point is that the people who run these departments are almost all of a certain political persuasion and they'll do whatever they can in order to push their preferred party's agenda.
quote:Meh. Exxon is pumping out massive amounts - and growing.
Exxon's board was also taken over by climate activists.
Posted on 6/7/22 at 6:38 pm to jnethe1
What is OPEC? Seems like they are just another layer of problems too. Drill baby drill
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