From the American Energy Society: US supermajor Chevron acquired Hess for $53 billion two weeks after Exxon Mobil purchased Pioneer Natural Resources for $60 billion and while BP doubled its YOY profits ($27B). Note: Many SMEs believe the sector’s historic performance is far from over and that the Permian Basin in Texas will likely remain the centerpiece of all activity in the foreseeable future.
I’m reminded of a boss/senior partner I had as a young man who liked to say, on occasions such as these, “Well at least now it’s getting real.”
Yes, the gloves are off, and Big Oil no longer seems to care that its standing in the world of PR is really no better than that of Hamas. They are baking the planet for profit, and there is not a goddamned thing we can do about it, at least in the short-term.
In the long-term, of course, we can electrify everything and that hope there is a path back to methane and CO2 levels that stabilize the climate here on the only planet we call home.
One Cost Item No Longer Necessary for Big Oil: Public Relations
Can’t swear that this is true but hoping so.
We must never forget.
The more visibility and the more frequent reminders we can get on this catastrophe in U.S. history the better.
It’s almost funny when we hear that California is a socialist state, or a police state (due to our environmental restrictions), or that people are leaving in droves to go to Texas or Florida. When I come across people who say this, I wonder: have you ever actually been to California?
Do you know that the garden-variety 3 BR, 2 BA house here lists at about $1.2 million, where, if it were moved to, say, the Midwest, it would be worth perhaps $2500,000? Why do you think that could possibly be? Maybe the law of supply and demand doesn’t apply to the Marxist part of the nation?
Perhaps it’s because Californians are offered fantastic economic opportunities. We develop and implement ideas that improve the lives of everyone on Earth, and that we profit greatly from our undertakings.
Something for the MAGA crowd to consider.
The main way governments create wealth is by educating people so that they can become productive members of society. They also build roads and airports and maintain law and order so that honest businesses can thrive.
Anyone living now who believes that Elon Musk and Jeff Bezos are creating wealth for anyone but themselves is a total fool.
A ton of people bought into the concept expressed here in the mid-20th Century, but no semi-intelligent person today believes that tax breaks for billionaires/trillionaires generates a nickel for the common person.
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