The company does not need a large pool of high cost technical employees going forward. It is going to be a more commercial/financial company. Permian type wells work can be done by contractors.
Not having highly skilled technical staff is the same as living in Houston without flood insurance.
Look I made it through that rain storm so that proves I never need flood insurance. Oh wait how has that worked out to the 80% of flooded homes that didn’t have flood insurance as they were not in a flood plain.
Save money in the short term pay dearly for it in the long run. It’s your choice.
It’s like when you cut a tree down at your house instead of hiring a professional company.
Oh I can do that. Operate a saw, that’s not hard. Why am I paying that guy so much money to operate a saw I can operate. So you have a try at it. Next thing you know the tree has smashed your car in half and knocked a hole in your roof. Good thing you saved all that money.
“get rid of all the highly skilled“ high-priced techs and just factory develop the reserves... that’s been tried many times, most recently by Chavez in Venezuela ... need I say more?
Someone said sold Sh– already?
Good point!
Chevron market value will continue to decline as renewables and climate change topics take center stage, driving up costs and lowering return. Get out while you can. I’m glad I have one of those “sh*t non-technical” IT jobs where skills are transferable to any industry and there are a plethora of good paying jobs.
@fgw Should have lumped summed the money, that way it would still be around past you and your wife’s generation.
We tried getting rid of all the company technical folks once. Didnt turn out well.
Yes get rid of all the highly skilled technical people, the operations people and drilling types. Employ more accountants, legal, IT, and HR. Contract everything out. That will work well am sure.....
Yes solid Sh–
Yep. The problem is we are not an assembly line. The factory model doesn’t work very well when you change everything you build every time. It takes years to get a factory running right and even then their are huge recalls on items they produced and manufactured.
As a shareholder, it seems like a good plan
Sounds like maybe that’s his job? Isn’t that what Bezos does at Amazon?
Aha! You’ve discovered MW’s REAL plan to transform Chevron - to turn it into an asset-exploiting engineering/production/marketing company employing low-cost employees, with AI to replace as many as possible. All profits funneled to the dividend and senior management.
So long as Chevron keeps sending my $4189 monthly annuity payment for the rest of my life and that of my wife’s, we’re happy campers.
Exactly.