1) Exxon doubled down on oil and gas at what now looks to be the worst possible time.
2) While other O&G companies have begun to pivot to renewable energy, Exxon is standing pat.
3) Investors are fleeing and workers are grumbling about the direction of a company some see as out of touch and stubborn.
So true and so evident
Let other companies shut down and swing market prices. Shell is evaluating shutting down multiple refineries, even here in the states. Seems like a last person standing kinda thing.
Classic Short term versus long term outlook. Does anyone truely believe we can electrify cars and the grid in the next 5 years?
Let other companies shut down and swing market prices. Shell is evaluating shutting down multiple refineries, even here in the states. Seems like a last person standing kinda thing.
And yet, Exxon’s bets could pay off in the long term (let's say it just happens that oil and gas prices go up later this decade and the competitors' lack of investment leaves them unable to compete with us and make $$$)