https://www.ft.com/content/39a70458-d4d1-4a6e-aca6-1d5670bade11
5 replies (most recent on top)
@xit+17fFe5Y8, agree, O&G will not disappear overnight, but it will be a very sad place to be, with negative growth, cost cutting and infighting.Get out, while you still can.
We are still larger than Chevron. That is all that matters! Winning!
Despite what powerpoints and ads say, EM is not an energy company. It is an upstream company with refineries to process their crude and a chemicals appendix.
O&G is on its way out while renewable tech is on its way in. If you don't believe it, you are stuck in the past.
On the flip side, there is still decades of transition to get there. O&G will still he around, but growth is going to stagnate and contract very soon. Only the more efficient and higher margin assets will be spared the slow shutdowns of equipment that will be happening over that time.
https://www.forbes.com/sites/rrapier/2020/10/03/how-nextera-overtook-exxonmobil-as-the-largest-us-energy-company/