For those of you who remain after this round of hunger games, once Exxon wins the Hess arbitration boondoggle and this happens:
https://www.yahoo.com/news/trump-says-chevron-venezuela-oil-231657432.html
might as well move straight from San Ramon to Spring, TX
Wirth would quickly don a brown shirt if Trump demands it. He’d be first in line to accept camp workers. He's undereducated. He’s past retirement. He’s ki-led our culture and the company.
No one wants Chevron losers in Spring, Texas. So your next stop will be a long, cold Winter.
When the Permian starts to decline rapidly in the near future, I expect the US stance on Venezuela's oil will change. This could be a bo-m for Chevron, assuming we have anyone remaining with experience in heavy oil.
What makes you think EM would want to take you in?
Until states like California build nukes, power lines, substations and related infrastructure electric anything will not replace oil & gas.
Until charging is faster than filling your tank oil & gas will reign supreme
Until EV range surpasses gasoline and diesel powered engines oil & gas will be the consumers preference
There has been a false belief that EVs will take over because the infrastructure could handle the demand, but that point is shifting and California's BANANA (build absolutely nothing anywhere near anyone) policies will be the big hinderance. Very ironic.
regardless what happens, heading into a world where crude supply > demand
having more crude might not be a good thing
end up idling the fields
Let’s put this to bed. EM know they have zero chance of winning this arbitration, all model form JOAs include the provision that the ROFR is bypassed for corporate mergers. End of. EMs desire here has been to stall the deal concluding to allow it to have the upper hand on shareholder returns and sanction new developments in Guyana without Cvx influence.
Trump is just trying to gain leverage. He’ll use it to make a deal because Chevron has deep pockets
I for one am excited to watch the Kingdom and Trump take turns running a train on us. FAFO maga dummies.
And OP is right, we lose Hess we’re totally cooked.
BS.
The Trump administration and SoS’s view on Venezuela was well known. There is the possibility that we continue to operate without interruption to support lower gas prices while the tariffs take effect.
Also, the Aphrodite proposal received approval from Cypress today.