Thread regarding ExxonMobil Corp. layoffs

You people fail to realize the reason XOM is in trouble. The main reason is because Trump has pulled us out of winless wars in the Middle East causing the oil prices to remain somewhat stable so we aren’t making $80-$90 a barrel but we continue to pay out a dividend like oil is still at that price. We need to cut our dividend if we want to survive as a company.

@3mwk+18m9Q4y6

Best place to make change is from within you w—rr.

Why are all of you greenies still working in the fossil fuel industry then? Leave EM and hire on with companies that make wind turbines, solar panels, batteries, etc. Go and help bury the O&G industry instead of living off of them.

@2cxk+18m9Q4y6

Do you understand the difference between a solar manufacturing plant and the rapid integration of renewables into the grid? Solyndra failed for being less competitive in USA because of cheap labor in China, not because renewables are not cost competitive.

The cheap manufacturing and continued reducing costs is allowing renewables to take up nearly all new power generation capacity in USA (and Europe for that matter). It doesn't matter if the device is intermittent as our nat gas plants can sit idle and come online if required (continue losing market share YOY to solar/wind). Policy changes are reducing nat gas connections in new builds as well as EV shares of new vehicles continue to grow.

O&G is clearly losing worldwide demand and rapidly losing demand in US/EU/Canada. Less and less jobs will be needed to support this industry. If you work in any of these locations, expect cuts to continue well into the future in the industry as facilities continue to shut down due to decreasing demands (Shell convent in louisana, many refineries in California). More will continue to shutdown with tighter and tighter margins. It's only a matter of time before your facility is not profitable and it's shut down permanently.

@2twx+18m9Q4y6

Lol. You clearly are a dinosaur. Every energy agency in the world disagrees with you.

Renewable energy production will surpass fossil fuels over the next few decades and O&G demand will shrink worldwide. What's that say about your future career?

Wow you’re quite the “expert”. Tax payer bailouts equate “low returns,” in your view. Green energy is NOT “clearly the future,” no matter how bad you want it to be.

Low return beats no return eh? How much money has exxon lost via its investment portfolio?

It's very clear that green energy is the future. Oil will still be in demand over the next few decades, but it's demand is rapidly decreasing. Exxon profitability really hinges on if OPEC can keep prices stable. If no and there is more Russia-Saudi disagreements every few years, then exxon is toast.

From the WSJ:

Another Green Subsidy Bust
An Obama-era solar failure could cost taxpayers $510 million.

Move over, Solyndra. Another green boondoggle from the Obama era has failed, and taxpayers are out as much as $510 million. Late last week Judge Karen Owens approved a Chapter 11 plan of reorganization by Tonopah Solar Energy. Tonopah operated the Crescent Dunes solar plant in Nevada that received $737 million in guaranteed loans from the Obama Administration.

Free market at work, eh buddy?

That short term 'stale' thinking is why XOM is where it is today; 1990 thinking = 1990 stock price...

@1mie+18m9Q4y6 Let me illuminate you. Plan-o is a derogatory term many of us use for corporate planning.

Too bad no one is buying right now genius. Why do you think Bass Strait was taken off the market.

If the stock market is an accurate barometer you’re way off. Look at how sustainable companies have doubled and tripled over the last five years while Exxon is halved.

The green revolution is hardly a revolution, and it's hardly green.
It will only occur with government regulating fossil fuels out of existence (highly possible with the dumpster fire that's about to take office).

The free market on its own will not accept wind energy as it is not reliable.
Get used to not having A/C.

There is nothing revolutionary about governments exerting greater control over the populace. That's as old as time itself!

As far as green, have you seen the strip mining that takes place to get the rare earth metals for the batteries? It makes oil and gas properties look like a national park. Oh but we don't hear a damn thing about that from the DNC I mean Big Media.

This doesn't even get into the reliance we'd have on, you guessed it, China, as they are the number one supplier of the battery natural resources.

The longer we have fossil fuels to burn up, the better off we all are.

@xqs+18m9Q4y6

And this from the guy that doesn't know the difference between Plano and Irving?? Just where is your bright future? Dime Box?

Get yourself a google map app for Christmas.

Somebody get this guy to Plano stat. He has a bright future at corporate

They are wind turbines, not mills (there is no flour).
And you’re right, Exxon has nothing to add to renewables, especially with the attitude, mindset, and limitations of its workforce and leaders.
We should the gimmicky of calling ourselves “energy”, and die with the transition as the last dinosaur.

Good luck with that.