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re: With No Strategic Reserve To Help Him, What Will Joey Do?
Posted on 4/4/24 at 11:13 am to Nosevens
Posted on 4/4/24 at 11:13 am to Nosevens
quote:
Massive investment as you stated is one company divesting itself to another company shoring up its balance sheets for hard times.
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.
quote:
There has not been a refinery built in 50 years, maybe ask yourself why?
Separate issue, but, yes, a long running issue .
quote:
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
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.
1
Posted on 4/4/24 at 11:14 am to cwill
quote:
The evidence indicates massive investment. Nothing you posted contradicts.
Looks like they bought a ton of existing production and possible reserve potential. Existing is not expansion and possible is similar to could be.
Posted on 4/4/24 at 11:18 am to Timeoday
quote:
Looks like they bought a ton of existing production and possible reserve potential.
What do you think "reserve potential" means? All of the buyers I linked bought inventory ("sticks") - that's what is driving the acquisitions.
Posted on 4/4/24 at 1:35 pm to cwill
quote:
What do you think "reserve potential" means? All of the buyers I linked bought inventory ("sticks") - that's what is driving the acquisitions.
Let's see, reserve can mean supply. Potential can mean possible. But, can you answer the question, What will Joey do? Pump prices could be $6.00 by election so how do you think Joey will repair the problem he created?
Posted on 4/4/24 at 1:40 pm to Timeoday
quote:
Let's see, reserve can mean supply. Potential can mean possible.
You don't know what it means or why those companies were making the acquisitions.
quote:
But, can you answer the question, What will Joey do? Pump prices could be $6.00 by election so how do you think Joey will repair the problem he created?
What is the problem and how did he create it? And note we have record oil production and so much natural gas it's basically uneconomic to drill new wells.
There's nothing that was done and there's nothing to do.
I think prices continue to rise through the summer and then OPEC+ drops some of their quota/cuts and ease prices back down into the $75-80 range...but like any oil price prognosticator, I'm bound to be wrong.
This post was edited on 4/4/24 at 1:47 pm
Posted on 4/4/24 at 1:41 pm to Nosevens
quote:
Ye not know what you speak of
Where am I wrong? Tell me what you know about the markets or the transactions that I don't understand.
Posted on 4/4/24 at 2:14 pm to Timeoday
Sleepy Joe will buy from Russia, Iran and other blacklisted states under the table. Its his only playing card left.
Posted on 4/4/24 at 3:45 pm to cwill
quote:
The evidence indicates massive investment. Nothing you posted contradicts.
Buying out another company is just existing investments changing hands. It does nothing for future production and therefore does zero for the price of oil/gasoline.
It has nothing to do with investing in drilling prospects. Maybe they are acquiring assets with the hope that come 2025, things will change under a new administration?
Acquiring existing companies/assets is not the same as investing in new wells. This means zero for the future of the industry other than Big Oil is getting bigger!
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