Thread regarding Phillips 66 layoffs

If only there was diversification ...

Very bleak future for P66. They wereted all these years spending money on stock buybacks they forgot to diversify their assets. That is why the stock is tanking and why it is being leveraged to the brink. Leadership has been short sighted !!! Taking loans to pay dividends, you must question that. Good luck P66, you are going to need it.

I totally agree @1yyv+17EXQL3S. Wasted years. If they weren’t so short-sighted and had done the right things it would be far better now.

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Post ID: @OP+17GbFj2r

7 replies (most recent on top)

The strategy needs to focus on the energy revolution and lead the development of new photovoltaics, battery storage and transition away from gasoline. Refining will still be needed to produce chemicals and plastics, but the scale of what will be needed will dwindle as gas powered vehicles get replaced with electric ones. Probably have 5-10 years to transition before the public perception completely shifts away from gas. It may take longer to replace everyone’s vehicles with electric, but once everyone can “see” that the electric revolution is happening, investors will pull out and sell their stocks which will crash PSX. At this point, it won’t matter that the majority of cars driving are still gas powered because stocks trade on futures. Electric cars only have to disrupt a portion of the auto marketshare (maybe 20%) before oil futures will be disrupted. I think we have only 5 years to shift into this market to give investors enough confidence that we can do both oil and electric/battery technology to weather through the transition.

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Post ID: @jlaf+17GbFj2r

So again, what should the strategy be? Pretty easy to say 'diversification' while offering no ideas or how to actually make money doing it. Let's hear it so as can save those jobs.

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Post ID: @4uch+17GbFj2r

you all are stupid to think everything that has been done has not just been to line the rich pockets of the execs take for instance the digital transformation huge bonuses and nothing good came of it except the rich got richer the the lady that mis implemented it got the cash

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Post ID: @3zqq+17GbFj2r

Like I mentioned in an earlier post, P66 was losing volume before Covid and crude prices plummeted over the last two years. Tesla does have some responsibility because of the early lead it took in that automobile space. Other manufactures are either catching up or have caught up. Please See New Hummer. Once the fully autonomous vehicles come out and everyone uses a car service to move around, game over. How long do you think that will take? 10 maybe 15 years at the most!

I'm sorry and I know it s—s to worry about your job but expect a 15-20% layoff announcement within next two week. You can tell everyone you heard it hear first.

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Post ID: @1taj+17GbFj2r

None of that has anything at all to do with what is actually happening right now. Do you believe Tesla is the reason for demand being where it is in 2020? If so, well I don't think there's much else to say.

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Post ID: @1fbo+17GbFj2r

Please see Amazon, Koch etc... for strategy. They didn't put all their eggs in one basket. 3 years ago in a meeting with the P66 head economist, he brought up the strength of Tesla sales and how fuel efficiency would impact volume. The problem with his presentation was it was 2 years too late.
P66 was doomed when Buffet sold out. He saw the writing on the wall and did was he does, make money.

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Post ID: @1efv+17GbFj2r

Doing what, exactly? Let's hear the strategy.

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Post ID: @wif+17GbFj2r

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