COP doubling down on lower 48 shale is a sure recipe for disaster when the industry doesn’t rebound in 2021, or 2022, or 2023, or...
Most other companies are expanding into renewables and alternative energy, but not the wizkids at COP. How is this supposed to inspire confidence in investors and employees??
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The world will end someday.
As long as they continue to get their promotions and bonuses...
You are right, with Concho purchase comes a major reorganization and it’s time to cut Bartlesville loose. Bartlesville has outlived it’s usefulness and is remote from company activities. If we need a second corporate center we will have plenty of office space in Midland to dual purpose people and facilities.
Why the heck are we keeping Bartlesville! COP would save millions by getting rid of Bville office and the daily jet rides back and forth! How inefficient and inane is that to keep it year after year?! My bet is that the CEO has some agreement with the City of Bartlesville or some good ol’ boyfriends up there that he is too afraid to pull the plug on it. Makes no sense at all - yet another poor business decision by upper management!
No chance for renewables to compete until consumption begins to outrun production. Good bet to stay with oil and gas, renewable energy maintenance and disposal will start catching up with it soon. Burying wind generator blades, heavy metal battery disposal, solar panel disposal, the cost to create, maintain, and dispose of these materials is going to start catching up with these initiatives. Electric cars are nice toys but hydrogen powered cars are probably more in line and practical. Electricity in the form of electrolyzes can separate water the most abundant substance on earth into hydrogen and oxygen. Compressed or liquefied hydrogen can power car engines that we had today with very few modifications. Instead of putting electricity into batteries put electricity into making hydrogen when you use hydrogen you have zero pollution and you have no heavy metal batteries to dispose of.
More pain ahead for longer.