A premature attempt to transition from fossil fuels had caused "unintended consequences" including energy supply disruptions in Europe and California, Wirth told FT.
https://seekingalpha.com/news/3891158-chevron-ceo-blames-premature-pivot-away-from-fossil-fuels-for-energy-crisis
Such a hypocrite! Ozone hand he blames the market on the other hand he has been beating drums of lower carbon for the past 18 months, you do what you believe is right as a CEO, instead he played the game that media wanted and danced according to the same market he is now blaming, XOM CEO did not change the course because he believed in core business and found more oil in the past 3 years than all Chevron found in the past 20 years!!
Four posts in a row popcorn? So you are both the pro-annuity guy and the “how is this related to layoff” guy: Really kind of sad.
I happpily took retirement in 2016. Put my seven figure lump in VTSAX. It has doubled.
Popcorn! You still being the pain! My god man, get a life!
2ocf: you whine about how everyone should only focus on how butthurt you still feel years after your layoff… rather than discussing their current employer policies and happenings … but why are you still trolling here if you found work elsewhere? Your doctor can prescribe some antidepressants that should help you get past your layoff three years ago, let you start enjoying life again, and looking forward to happier tomorrows. Look into it for everyone’s peace! The holidays are coming and depression will only get worse if you do not deal with your issues now.
1mze: You do seem to “spend [your] weekends on the layoffs boards complaining” since you replied to my post within an hour after I called you out for the similar complaint you posted on just about every thread. Have you considered getting professional assistance to help you heal after your layoff? It has been several years!
MW is the one pivoting away from oil investments and steering too much capex into dead end renewables.
Speaking of wasting time: is it always the same one guy who posts on every thread “how is this related to layoffs”… to that guy, I know you remain butthurt from being laid off but maybe time to move on?
MW to investors, March 2022: "We just increased the dividend 6% and up almost 20% since COVID, doubled since 2010. We have a capital program that’s within the low end of guidance, up 30% from last year, but near the low end of our $15 billion to $17 billion dollar guidance, which we extended again a year. So, we’re not going to increase capital..."
MW to JB, June 2022: "Chevron is doing its part to help address these challenges by increasing capital expenditures to $18 billion in 2022, more than 50% higher than last year."
I see Exxon made another major new discovery, this time off Cyprus. Chevron still exploring for hydrocarbons or has it become a manure processing company? Can’t blame the government if you run out of oil because you could not find any!
Have some cheese with your whine. He is telling the truth about the fouled up priorities of the EU and the US. It’s about time.
Didn't he push out Watson/Kirkland because they were spending too much capital and brought back discipline? While professing, Chevron would rather the money “go back to our shareholders and let them plant trees, go invest in a wind and solar developer and have the right to do that with a growing dividend that comes out of our company."
Now it is the govt who has been messing up his capital investment plan? Feeling guilty of making too much money? Afraid of windfall taxes? What gives?
He needs someone else to blame for having cut capital expenditures too much for the last 4 years.
For years he talked about capital discipline, then all of the sudden it’s the government’s fault to not invest?
Not that chevron can execute MCPs anyway. Can you imagine the analyst community reacting to a chevron MCP? Just wait for the two year delay and 25% cost overrun.
He keeps ranting to analysts that we are keeping capital investment lower than ever then writes a letter to the President beating his br---t about increasing investment.
He criticized governments for reducing burning of coal. What a complete mo-ron.
How dare he be honest! I am outraged!
What a tone-deaf thing to say to customers who already hate you. The war is to blame. The only pivoting is by id--tic energy companies who refuse to invest and instead horde cash for their investors.
Isn't this supposed to be a layoffs website?