Royal Dutch are marketing their Permian holdings. The fat lady is clearing her throat. Long live shale!
16 replies (most recent on top)
When the second biggest player in a business bails out early, everyone gets scared.
Looks like the trolls have taken over this thread lol.
Same here! I have had bad gas and fa---d in shells to hear the echo for years.
Same here - we have bought Shell gas for ages. It is the best by far.
I’ll have you know I haven’t pumped Shell gasoline into my own cars for well over 20 years, even though so many of their gas stations are to be found everywhere. So, would you think I care whether Shell is the fist or last to leave the Permian Basin?
Capital spending on green energy is growing exponentially. Chevron is slashing the budget for years and will continue the downward spiral in activity. The writing is on the wall.
Texas shale is just a flash in the pan in the big picture, and the majors all jumped in to avoid long term risk with something else during uncertain times. All the majors will be completely out in the next few years because they can’t continue to compete with small companies once the resource is well defined and the technology mature... you just don’t need a huge tech and management infrastructure back home to factory drill.
@1urh You lost me at “Y’all”.
From what I skimmed of your reply to the OP, you’ve just repeated already debunked talking points about green technologies and investments. These talking points are being generated by the same people who have been systematically sticking it to you and your coworkers in order to enrich themselves at your expense.
@yxd Large O&G companies receive very large government subsidies. Not sure what your point is here.
Y’all got some things wrong.
“Green investments” are simply PR spending for the big companies, meant to placate the public who are all still oil junkies.
However, minnow Oxy is still in trouble for its doubling down on the Permian Shale Ponzi Scheme since ~2014/2015.
Green not a Ponzi Scheme for Oxy, just more PR BS / looming fiasco. Oxy Lost Capital Ventures and Direct Air Capture of CO2? HaHaHa 🤣!!! I guess all the reasonable engineers left Oxy in last reorgs.
These companies have to eat at the Green trough to stay viable. Some run and some pace themselves but in the end they to will eventually be cut off.
Chevron will be a slow follower to cleaner sustainable energy sources.
European companies (Shell, BP, Total) are running scared of Green and will turn into tiny solar panel companies.
Don’t look for CVX or XOM to buy Shell’s interest - both are nervously considering their own options. It is a huge sale.
Time to triple down then.
So this is going to cause layoffs?
Fine with me. Shell can virtue signal and chase the green dragon all they want, but in the end all they are receiving is our tax dollars that subsidize the green energy Ponzi scheme.