Those imbecile who are running around touting cyclic nature should note:
1). Prior to 2010, energy security was a big need for the US and the world. After mammoth shale findings in the US, our government doesn't feel energy insecure or threatened by middle-east and other oil rich places. So there is no need for them to back American oil companies that have filth.
2). Before mammoth shale discoveries and fracking, the supply and demand equation didn't have a "crude price release valve." The fracking technology and excess shale oil and gas allows small and big independent operators to ramp up production when the crude price goes over $55, upping the supplies, which in turn brings the price of crude back down.
3). The environmental awareness, and movement has significantly changed in the last 30+ years or so. This is a different world than what was there 30+ years ago and the society is more aware and vocal on environmental impacts and continues to move away from its lust for fossil fuel.
4). The new tech giants and new technology based innovative companies didn't rule the plant 30+ years ago. There are better return on investment in those companies and technologies.
5). There was no social media 30+ years ago. The voice of discontent, findings of forgery and deceit spreads like a wildfire nowadays. Behemoth corporations cannot stifle the voice.
6). Problem of incompetencies, arrogance, and ignorance within ExxonMobil employees are way lager than temporary excess crude supply and COVID-19 pandemic related challenges.
So please stop being a yes man/woman for worthless causes while sitting inside a poisoned well.