Oxy and VH are talking out of both sides of their mouth. Commitment to drilling fossil fuel in Permian, and yet keep saying they are low carbon company is misleading. I really don't see how this company will survive. No direction, pos leadership, and decaying demand. I hope oil bounces up to $50 in the near term, so we can all dump our stocks. I still can't fathom how some really awful mid managers are still employed.
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The carbon capture tax will ultimately be paid for by the consumer. The consumer will complain about the oil companies charging more. We cannot win. The consumer really needs to cut down on the amount of fossil fuels they use.
Get woke go broke
IF LOW carbon is the future, then why did they go out there an buy all those hydrocarbons sitting in the Anadarko Permian acreage?
The "culture" of Oxy is a C-U-L-T.
It’s economical when you get the proper Federal legislation passed to support it. The citizens/taxpayers pay for it by providing tax rebates to the carbon capture companies and increasing the federal debt. Electricity end users pay for it in the form of higher electricity rates/fees/carbon taxes that are passed through. The price to pay for climate change.
If it spikes commodity prices, I'm all in. Who the hell wants to work in this industry at 40-50 dollar oil?
Below should tell you all you need to know about being employed in the oil business and the politics that need to be played with LCV. The below is a quote from the President Elect from a recent article on the new economic advisor for the new admin. If you are a climate person then LCV might be a place in the company you could work and not feel like too much of a hypocrite, and still get an oil company salary.
Deese is "a trusted voice I can count on to help us end the ongoing economic crisis, build a better economy that deals everybody in, and take on the existential threat of climate change in a way that creates good-paying American jobs," Biden said.
Deese said he would push for "bold, new actions" needed to combat climate change and address the racial inequities that he said were at the core of the climate crisis.
The United States needs to rejoin the Paris climate accord, he said and push "far beyond" it to meet Biden's goal of achieving a net-zero emissions economy before 2050.
LCV is the flavor of the day for the politicians. All oil companies are going to spend big to keep Wall Street and the new admin happy. They all are either going to have a plan or be look at in a bad light. We are one of the cleanest countries in the world and especially compared to China and India. That are the worst and that is one reason they admin got out of the Paris Climate Deal. The US was paying for the bulk of it while China and India got to push things out for years.
Adding solar projects and capturing carbon dioxide from the air is aligned with what the public is looking for going forward. Go OXY!
Low carbon is a Hail Mary in order to forget the worst acquisition in oil and gas history of all time.
Last guy is a mid-level manager wasting his time on the internet because he’s to not one to manage.
Very interesting topic...NOT.