Thread regarding ExxonMobil Corp. layoffs

@2dlj+170mRSKK

You are reading too much Mother Earth news. Cannot get to an energy solution with Solar or Wind - they are approaching the physics boundary (Shockley-Queisser Limit, Betz Limit). But maybe you think we will be flying in solar-powered jets soon?

Survive

Borrowing money to give it away is a terrible idea always...

@2fxq+170mRSKK

Are you speaking from your a–? Germany is responsible for bringing down renewable assets worldwide with their large invests over the years. It may not be entirely beneficial for Germany as they took the brunt of the front end costs, but that allows for other countries to follow with build out at lower price (better economics).

If you look at get German electricity production mix, both Coal & nuclear production have seen quite significant declines whereas nat gas has been the SAME over the last decade. With sales of ICE in terminal decline worldwide and EV shares rapidly growing, gasoline and diesel demand will follow the path down.

General convention was that the higher EV penetration will lead to a build out of more gas plants to handle the load, but that is hardly the case. Public opinion surrounding Gas plants is eroding every day with communities to push for renewable growth (even if it's a higher cost) in the name of climate change. You're either a fool or fail to see what's going on around if you you can't see this happening.

Nat Gas is soon to go the way of nuclear in the developed world where mass amounts of legal review and environmental impact studies that are only going delay mechanical completion and pile on costs to make any project uneconomical.

What you negative minions don’t understand is that it was always a plan. Lower the earnings so by 2025 will be double!
Genius!

@2fxq+170mRSKK, this is not peak oil silly, it is peak demand. Jeez. With such apologists. What luck can poor XOM have ...

Peak oil theory has predicted the peak three different times since I started working in O&G. Remember nuclear power requires finite radioactive material which is mined in environmentally unfriendly ways in dangerous countries. Solar power requires lithium which is also a finite resource mined in environmentally unfriendly ways in dangerous countries. COVID will pass and demand will return (air traffic will remain oil based unless you travel by dirigible or hot air balloon). Saudi will stop flooding the market when they need to recharge the Saudi fund. Look at countries that have poured huge efforts into going renewable (Germany for example): massive spend of public funds without any material change to the energy mix.

I’d guess senior management has a similar mindset to the alleged fifty-somethings on this site, which is maximize profit-taking (and job-retaining) for themselves for the few short years before their retirement.

What ever happened to "Put a Tiger in your Tank"?

@naj+170mRSKK Is right. I am not sure why psychological games seem to be such a big part of xom culture.

Algae will solve all our problems and return Exxon to past glory and a place in the Dow.

The same as for the last 100 years. Cut costs and keep pumping the black stuff out of the ground

Liquidate & distribute to shareholders

Not to worry guys. World population is increasing and will keep increasing. Especially in Asia and Africa. You cannot use Tesla for Jet engines, tankers, cruise ships, excavating equipment. Electric cars will grow faster but oil demand will come back. People want to fly and meet families in another state. People want to go vacationing on cruise ships and drive faraway on long weekends. Corona will eventually go away and disappear, there will be vaccine, more immunity due to exposure. 2021 - oil will be back to $60 or $65 and ExxonMobil stock will be at $55. Mark my words. I am an individual investor using Motley Fool and my common sense and I have always got 15% annual return in the stock market. I am optimistic I am right. Not to worry. Having said this, get the hell out of ExxonMobil. I am out now 6 weeks, very happy, new job, very nice people, my digestion has improved and my chest pains are gone. ExxonMobil damages health, you will lose a few years of your life.

@eya+170mRSKK

You do realize his descendants are trying to shutdown the O&G industry, yeah?

We are ExxonMobil....say it each night before going to bed. Preferably three times in front of a mirror, so you invoke the spirit of Rockefeller.

Unfortunately they need to shore up their balance sheet before they spend on projects that have uncertain returns. I expect you'll see a renewable plan from begin to be articulated in 2021.

It better happen soon because trying to enter the renewable market in the future could prove to be very difficult when the other majors have secured customers and markets.

The plan has always been to merge with Tesla.

@auq+170mRSKK with what money?

To keep paying the dividend.

March 2021 PIP/ performance assessment - did it get moved earlier?

Because everything Woods says has been accurate.

Woods mentioned that he spoken to every single people in the investment community.. and no one can poke a hole at his strategy... such statements shows that you doubted our man and deserve to be PIP in March 2021 performance assessment.. we will win.. until we are tired of winning!

1 - Yes;
2 - HW3 will solve it, at least they think;
3 - there is a plan, but it is up to debate whether it makes sense or not;