Thread regarding Chesapeake Energy Corp. layoffs

Clearly this company needs a new strategy. Or maybe even just A strategy. But looking at the executive leadership with zero to no experience before this gravy train - are we surprised to still see chk struggling? No.

Hey @ @Pv3sOC8-add, while the world transitions to renewable energy, the most extreme models have oil demand GROWTH slowing to stopping around 2025. When this happens, renewable energy will then need to displace demand somewhere in the neighborhood of 100,000,000 bbls/day of oil consumption. While consumer vehicles can work with plug in hybrid technology... "airplanes", "boats", and countless industrial processes will still require fossil fuels. Electricity grids will still rely on natural gas, and even coal. Fossil fuels will still be used on this planet when everybody reading this has died. However, we will likely never return to the sheer amount of activity that was occurring during the last "boom". I hope that the planet can switch to renewable energy faster, but this is a multi-decade process, even if we had a solution that is 100% viable and better than fossil fuels TODAY, it would still take decades to change our infrastructure. Expand the scale of your thinking.

Living beneath our means and making investments is a whole lot different than bragging about the stuff the previous guy mentioned. Ive heard it too from current employees. When I was there during the good times it seemed like just about everyone was doing the "look at me" thing. To do that now, under current circumstances is plain ridiculous when those same people may be out of a job next week.

There are those of us that live beneath our means, are debt free and can afford to make some investments. Not everyone lives paycheck to paycheck.

What kills me is there are still CHK employees out there who talk about their new homes in Edmond or the 200K pool they're going to build or the new boat, lake house, etc. Spending just like boom times. And you wonder why the competition laughs.

And you just explained why CHK will die. The only thing that can save this company is a buyout and a move out of OKC. On its own bankruptcy is the future.

Chesapeake will not recover, and neither will the oil industry.

After 3 years of low oil prices, you still don't see the writing on the wall?

$50 oil is no more sustainable than $40 oil is, no matter what the lying media and corporate talking heads say about "cost cutting efforts taking effect."

The world is transitioning into renewable energy, but first the fossil fuels industry has to be destroyed, which is what is happening right now.

You guys all think you're such business geniuses, yet you can't even see what's going on right under your noses in your own industry.

That would be because you only believe what you want to believe, and you sure as heck don't want to believe that your industry is going down the drain.

Well, it is.