From the American Vitality Society: US supermajor Chevron acquired Hess for $53 billion two weeks after Exxon Mobil bought Pioneer Pure Sources for $60 billion and whereas BP doubled its YOY earnings ($27B). Observe: Many SMEs imagine the sector’s historic efficiency is much from over and that the Permian Basin in Texas will doubtless stay the centerpiece of all exercise within the foreseeable future.
I’m reminded of a boss/senior accomplice I had as a younger man who favored to say, on events equivalent to these, “Nicely not less than now it’s getting actual.”
Sure, the gloves are off, and Huge Oil now not appears to care that its standing on the earth of PR is de facto no higher than that of Hamas. They’re baking the planet for revenue, and there may be not a goddamned factor we will do about it, not less than within the short-term.
Within the long-term, in fact, we will electrify the whole lot after which hope there’s a path again to methane and CO2 ranges that stabilize the local weather right here on the one planet we name house.
