With TCJA's change in 2022 (regarding R&D write offs). Do you think we will see a mass reduction in R&D activities from XOM other than Carbon Capture?
XOM might need to axe biofuel research and EMRE to save cost. But not sure what self destruction money dump XOM can afford
One of the most useless and inefficiency breeding grounds has been UIS and specifically RTD in the Upstream. It is time to get rid of meeting creating, linkedin su---r deadweights.
If it survives at all, it will be downsized drastically and will be relocated to Texas. Annandale will be sold, Not sure what’s taking so long, there is a plan. Nothing coming out of our R&D these days, ER&E used to be a great place to work. Group head and section head roles in Annandale are revolving doors! See ya in Texas. Johnny Quest’s friend needs to be fired.
@OP There’s nothing for EM or any other O&G company to research or develop besides strategies for litigation and tax-dodging.
Note that all the “super-majors” have been staffing up their legal departments and filing lawsuits against regulations in state and federal courts. That’s where the money is going, not to R&D.
From what I’ve seen our research is usually paying someone else external to do the work while we “manage” them
This is a Commodity company - how long will it take to drill that in?
It is not a R&D and science company - especially if tax write-offs are no longer life-blood.
Regarding Carbon Capture - you do realize EM's proposal for CC involves the majority of this being funded by US citizen's taxes, right?
EM and R&D/Science are ANTONYMS.
Study harder and get out!
Chemicals R&D actually does stuff. CSR at this stage just exists to get VJ on TV.
I hope so. Not a lot of wins coming out of research that I can think of.