Thread regarding ExxonMobil Corp. layoffs

Energy security is a huge issue for Europe and UK - price and supply assurance during peace time and then the issue of for times of war. As others have said: regulations, labor costs, and not the least…energy costs. California is learning the same thing but there it is just price/supply.

UK and EU refiners are competing with more modern, more efficient and lower cost refineries in the Middle East, Asia, and the USGC. UK refiners can be protected by import tariffs or subsidies. Both will cost the consumer/tax payer - the lunch has been eaten - it wasn’t free.

My question is: when the UK affiliate is divested, will all the Brit executives that DW brought over and all of the Brits that they brought in to less senior roles be divested too? Always odd that such a small affiliate produced so many into such senior positions - a clear example of familiarity bias at work.

Maybe some countries and states should offer a friendlier environment to operate in.

It’s really not that complicated.

The citizens who support such absurd policies should not complain about the price of energy.

High labor, high energy, highly regulated, high taxes. It’s just not viable to do business in the UK and Europe anymore. Refining and Chem Manufacturing are low margin businesses and they’ve made it impossible to do business over there.

North America will get its turn. Nothing can stop DW and his band of goons.

@a8+1ka9kya17 The plan is to just shutter or sell all assets in the UK. Demonstrated today at Fife.

Any lobbying is academic and for visuals only.

Exxon, what's your plan for this, apart from moaning about it and asking for subsidies for your core heritage business model?

Clueless management, fire the lot of them.

Building the case for divestment ahead of a U.K. business sale, so that it doesn’t come as a total surprise.