Exxon's continued financial decline and layoffs even as it pays out shareholders point to the danger of unmanaged decline for the oil industry. I feel like a broken...
https://www.gizmodo.com.au/2020/12/exxon-continues-unprecedented-tumble/
4 replies (most recent on top)
The real comparison is not with the coal industry, but with the t-b-cco industry.
The notion of unmanaged decline is interesting though I don't think it will happen
A clueless article. The author doesn’t even begin to understand what happened to the oil industry and especially the situation EM is in. Decades from now the oil industry is obviously going away, but the problem for EM is that it needs to replace its portfolio with a true profit generating one. It’s a relatively short term issue, hence the increase in investment as soon as the price recovers. This article is not for professionals who know what the parameters are, it’s just fodder for the general public with specific ideological expectations, who cares just to hear about the “novel” comparison between the coal industry and the oil industry.
Look at cnn article on exxon if you want a laugh
We know all of this