BP, Shell and Equinor have all shut down renewable investments and sacked staff. Esso never had any in the first place. We will be the only holdouts. We have spent over $1 billion and have nothing to show for it save some greenwashing press that nobody falls for anymore.
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It was never clear to me the business case for CNE. We are a leader in CCUS only becasue of pre-development agreements with Oz to reduce CO2 during offshore gas production. No one "pays" for CCUS, except maybe Norway. Other new energies are also pie in the sky. I guess it is futurist aspirational, but 10B and counting is a lot to spend without any clear path to profit.
CNE has proven nothing but a money pit. Nothing produced, no major acquisitions, no surprise as they have no strategy and low-performing management. Bad news, it will be kept around to wave in front of Wall St. and greenies as Chevron's "commitment" to the fictitious "energy transition". Also kept around as a country club for high-pots and BU managerial rejects. Today's version of the old Business New Ventures.
It’s amazing to see LT of CNE. So many young folks in PSG 26-27 roles with little leadership experience and definitely some DEI
I know what we should do. Discover “new energy”. What a concept. Plant a tree. Go woke and go broke.
Complete lack of vision for evolutionary change that would create game changing positive impact for Chevron. Typical small ball initiatives from a very small ball leader.
CNE is for traitors. Blackball them all. This is Chevron. We make oil. No apologies.
the low quality carbon credits is dismal
Some of de stuff will launch but dat org is way too top heavy and likely won’t survive de us environment over de next four years
Another JG fluff assignment. What a light weight he has been in any position.
Every function is on chopping block,30% across the board, no one is safe.