Anyone know when we are projecting LCS will stop being an expense and start being profitable? Does the ROCE compare well to our traditional business?
12 replies (most recent on top)
My own two cents : LCS goal is not to maker profit, contrary to the official speech. It's merely greenwashing and an excuse to keep producing fossil fuels as long as it makes money (and as long as the ressource is there).
So funny to see recently on the intranet the LCS (reminder : Low Carbon Solutions) President showcased in front of his Porsche racing car... 😂😂
That's give an idea of how serious they are about decarbonation... It's pure window dressing.
Look at the untalented workers in LCS. It has collected mostly brown nosers. It will be a sheet-show and a mere illusion for years to come. Remember the fake Algae show that ran close to a decade at CSR, Clinton, NJ and bamboozled everyone.
LCS will make money when it gets shut down.
May be difficult to repeal but it easy to add a law that says Big Oil is taxed more or ineligible for government subsidies.
I have difficulty seeing LCS making any of the other economic metrics that the rest of the upstream is held to. C02 re-injection at a meaningful scale: gas compression, corrosion resistant pipelines, off shore platforms, and drill wells. The costs will be enormous.
@yee Have you read the legislation?
Who am I kidding…of course you haven’t. Nor will you.
This seems to apply here:
https://en.m.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect
If you read the Inflation Reduction Act carefully, you will realize that it will be difficult to repeal. There are 50 governors in 50 states depending on the Inflation Reduction Act dollars.
The ship has sailed.
LCS will never make money. It is reliant on ill advised Trojan horse US legislation that will likely be repealed or greatly modified before LCS can confiscate money from the US taxpayers. US voters will eventually vote out the gangsters that pushed the “Inflation Reduction Act” through.
This would also be the preferred outcome from a general US perspective.
How much of the 17 billion promised on projects has been spent?
As long as the Feds keep taxing the peons to pay for this boondoggle.
I asked a marketing/sales guy from LCS and they said 5-10 years from now.
Remember algae .. seems like the same path. We are great at projects in Clinton that will never be commercialized.