It’s a desperate attempt to keep a Ponzi scheme from surfacing until the relevant executives can cash out.
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horizon challenge equals to XOM going down the toilet by 2032 due to DWWs lack of leadership. He can only grow by shrinking headcount and opex versus growing the volumes and earnings. But DWW won’t be here in 2032 so some other poor su---r will be blamed. We should go after his stock because of the poor near term decisions he’s made like BP did with Looney-bin
Production sharing agreements expiring right and left. Bye bye Qatar PSA. This is what happens when downstreamers try to be salmon swimming upstream. Big issues ahead.
@a7 the fact that we divested the all of our Central Basin Platform acreage to Hilcorp when even the Midland Reporter Telegram was saying it’s becoming a new hotspot for future development or how Argentina is now in vogue (which we also divested) shows how out of touch the DWW is with actually spending some money to develop or find new things to explore vs omfg we need more “structural cost savings” lets cheap this bi--h out and pump mah stock. Yeah, structural cost savings are great until you have nothing left to explore and your cupboard is bear + newsflash bruh you actually need oil to run your precious refineries not hopes, dreams or structural cost savings.
In our new, understaffed paradigm, we’ll need to spill at least 135 million gallons of oil or more in 86 days or less.
What our crazy asset manager told us it’s where in some margin we are compared to say Caterpillar out in the market.
It’s a challenge on the horizon
Our only decent assets are declining like crazy, and we have not planned for that whatsoever. You have a few years to find a new job (provided you aren't PIP'd out before then).
5 years before a volumes drop off. The time to ramp up this challenge was 5 years ago- but instead they did “structural changes” to the upstream instead of investing in the upstream.
Now we have global trading!
It’s DWW failure of leadership to invest in the upstream versus trying to beat them up over and over again and tell them they su-k and downstreamers rule. His ego rules everything and it will ruin EM when Upstream volume drop like a rocket. 2032 will be the day of reckoning; we need a Guyana every year or something crazy like that