Thread regarding ExxonMobil Corp. layoffs

It's not just pandemic to blame

I got interested in this article about the bad circumstances that led to EM doing significantly worse. Ok, I’m sure that everyone knows that the degradation of this company began long before the pandemics, and that a list of circumstances and moves that led to the current situation is much wider than listed in this article, but regardless, it’s a good read. I just hope we learn something from this and don’t hit the rock bottom with the wrong strategies.

If someone wants to read the article, here it is: https://qz.com/1915085/where-it-all-went-wrong-for-exxon/

by Anonymous
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Post ID: @OP+17qsimpy
Comment! It's anonymous!

7 replies (most recent on top)

@ais+17qsimpy

Why be the pioneer and take the brunt of the costs by deploying higher cost projects when we can sit back, watch the technology evolve, and use our superior cash flow to buy into the market at just the right time? XTO was a big with from that strategy, right?

by Anonymous
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Post ID: @1qrg+17qsimpy

@1cqk+17qsimpy Darren Woods

by Anonymous
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Post ID: @1ncy+17qsimpy

You only find out who is swimming naked when the tide goes out. – Warren Buffet

by Anonymous
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Post ID: @1cqk+17qsimpy

@hxj+ On your point 2, Exxon better start thinking of itself as an ENERGY company rather than just O&G and get moving. If they continue to think just O&G, they will become a dinosaur.

by Anonymous
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Post ID: @ais+17qsimpy

What rubbish

by Anonymous
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Post ID: @vpv+17qsimpy

Kind of a c-appy article actually. It's short with no real analysis, just makes the following points.

1) Exxonmobil has been passed as king of us oil by chevron in 150 years (nevermind that exxon, Mobil, and chevron all spunoff from standard oil)

2) US oil over taken by renewable energy company NextEra. (stock markets are indication of growth markets, if anyone thinks O&G is going to grow in the future, they have their head in the sand. Renewables are going to be the future)

3) Russia and Canada tar sands bust over the last decade has lead to the current problems with exxonmobil.

by Anonymous
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Post ID: @hxj+17qsimpy

Yep. Several indicators even prior to the pandemic, which is an unfortunate catalyst.. exposing EM. Quoting buffet: Only when the tide goes out do you discover who's been swimming naked.

Another article on insiders selling. Ironic when these are the executives telling us everything is alright but their actions shows otherwise..

by Anonymous
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Post ID: @itx+17qsimpy

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