Is it just me or is Chevron going to be demolished by a slow moving freight train due to its lack of strategy in the area of climate change, the move away from fossil fuels, and increasing electrification? I mean this sincerely, whether you believe in ACC or not.
Sure, fossil fuels have been amazing for humanity, and it's a hell of a business to be in, but it will be the future economic, societal and regulatory landscape that calls the shots, not business as usual. We find and produce hydrocarbons to make money, not to make hydrocarbons.
Other operators are making shrewd moves in this area (e.g. Shell positioning to become world's largest electricity provider - yep, electricity, not "energy"). We have our head in the sand and are going to be left decades behind in preparing for what lay ahead.
It took us until 2018 to kick off a digital transformation program, with untold opportunity cost from not acting sooner (a decade later than any self respecting multinational). Similarly we are going to be late to deal with what will be the greatest challenge our industry has ever seen, while our competitors mop the floor with us.