Deleted
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Nov 5, 2024 5:35:48 GMT
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Post by Deleted on Sept 16, 2020 20:00:02 GMT
I don't understand why this is a political issue to some in the US. I get the geopolitics of it, but it seriously astounds me that some people think that one party or another is somehow going to protect oil companies from the coming changes. Note that the article @zingermack linked above quotes the Houston Chronicle. It's not like it's some disconnected "coastal elite" or bike-riding Portland hipster talking about the decline of oil. This is real in Texas. Trump isn't going to fix it. Neither is any Democrat. Companies have to pivot and we have to invest in helping to re-train employees where necessary. Yep. The industry knows what's coming. So do their investors. This isn't a secret. It's being discussed in banking/investment banking circles and energy conferences. And there isn't a f'ing thing Trump (or any single world leader (and I use that term advisedly for Trump)) can do about it. These are enormous worldwide systems and they respond to economics. The economics of renewables are moving AWAY from oil for transport and electricity - even heating oil as electricity and possibly even geothermals become cheaper and people move off of heating oil to electric heat (though that's further down the line). Only ostriches pretend Trump (or any "leader") can make this all go away. |
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sassyangel
Drama Llama
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Post by sassyangel on Sept 16, 2020 20:00:06 GMT
Chinese companies have been buying up US companies for years. It's been slow and gradual, but it's been big. Some of the surprises that I found were GE, Smithfield Foods, and AMC. I can't tell when this chart is dated, but it shows quite a few acquisitions in the Energy field, and I completely expect China to come in and start another buying frenzy. money.cnn.com/interactive/economy/chinese-acquisitions-us-companies/China's trouble, has been, and if we as a country don't wake the fuck up it's only going to get worse.
I wanted to add that there's been a shortage of swabs necessary for these Covid-19 tests, and I read some components come from China.
I also read yesterday we can expect a continued shortage of cleaning/disinfecting supplies. For example, Lysol gets some of it's components from China.
Don't forget China threatened to cut off supplies of our much needed medicine.
I’ve never understood why we would allow foreigners to own property or to buy America companies. Other countries don’t so why do we. Deleting - didn’t realize it was an old thread resurrected, and I don’t want to reiterate the same answer I gave months ago, and look like I’m piling on. 😅 |
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sassyangel
Drama Llama
Posts: 7,456
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Post by sassyangel on Sept 16, 2020 20:05:34 GMT
I don’t fully understand the workings and issues of the oil industry but it seems shortsighted that someone who is voting for Trump because he says he supports the oil Industry is pretty short-sighted since the handling of the virus has impacted the industry greatly. Is that correct? Yes, they are voting for the man that is handing a US oil collapse to Russia on a silver platter. Exactly! Thanks to that price war in January between Russia and the Saudis - the US oil market was already in trouble before the pandemic hit. Russia and the Saudis - think about that, it’s not a coincidence. 😐 |
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Post by hop2 on Sept 16, 2020 20:14:55 GMT
Yes, they are voting for the man that is handing a US oil collapse to Russia on a silver platter. Exactly! Thanks to that price war in January between Russia and the Saudis - the US oil market was already in trouble before the pandemic hit. Russia and the Saudis - think about that, it’s not a coincidence. 😐 No it’s not a coincidence. Trump is hastening the collapse of US oil for his puppet master in Russia. And ignorant people just can’t look at the chain of events and see for themselves that he has hit the oil industry collapse on full speed. Just like the big middle finger he gave the coal industry. You want to scream wake up but I know people don’t want to hear it. At least the Dems have alternatives and a plan to retrain workers. Trump just has his foot on the gas hurtling towards destruction because it’s part of his payback for all this Russian loans |
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sassyangel
Drama Llama
Posts: 7,456
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Post by sassyangel on Sept 16, 2020 20:37:40 GMT
Exactly! Thanks to that price war in January between Russia and the Saudis - the US oil market was already in trouble before the pandemic hit. Russia and the Saudis - think about that, it’s not a coincidence. 😐 No it’s not a coincidence. Trump is hastening the collapse of US oil for his puppet master in Russia. And ignorant people just can’t look at the chain of events and see for themselves that he has hit the oil industry collapse on full speed. Just like the big middle finger he gave the coal industry. You want to scream wake up but I know people don’t want to hear it. At least the Dems have alternatives and a plan to retrain workers. Trump just has his foot on the gas hurtling towards destruction because it’s part of his payback for all this Russian loans Both are countries he is neck deep in currying favor with. It’s right there in front of us.  Our coal plant in ND is closing here in 2022. He couldn’t save that either. |
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Deleted
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Nov 5, 2024 5:35:48 GMT
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Post by Deleted on Sept 17, 2020 14:36:16 GMT
How's Blackrock (you know, that little ole' company w/$6 TRILLION under management) doing in moving money away from fossil fuel cos as they promised (and stunned the industry) in Jan 2020? www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letterPeabody Energy (coal) whinging: “Certain banks, other financing sources and insurance companies have taken actions to limit available financing and insurance coverage for the development of new coal-fueled power plants and coal producers and utilities that derive a majority of their revenue from thermal coal, which also may adversely impact the future global demand for coal.” At Peabody's annual meeting, BlackRock voted against the reelection of the firm’s health and safety chair, and cited “insufficient progress with respect to [Task Force on Climate-Related Financial Disclosures]- or [Sustainability Accounting Standards Board]-aligned reporting, specifically around target-setting.” www.peabodyenergy.com/Peabody/media/MediaLibrary/Investor%20Info/Annual%20Reports/2019Peabody10-K.pdf?ext=.pdfLet's not forget what Blackrock called their shot across the bow in January: A Fundamental Reshaping of FinanceEnergy and money move the world. When money decides the energy needs to be cleaner, the world will follow suit. Ain't nuthin' big built w/o big money. |
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Deleted
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Nov 5, 2024 5:35:48 GMT
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Post by Deleted on Sept 21, 2020 23:48:07 GMT
"Exclusive: Shell launches major cost-cutting drive to prepare for energy transition LONDON (Reuters) - Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, sources told Reuters.... Reducing costs is vital for Shell’s plans to move into the power sector and renewables where margins are relatively low. Competition is also likely to intensify with utilities and rival oil firms including BP and Total all battling for market share as economies around the world go green.... Shell is exploring ways to reduce spending on oil and gas production, its largest division known as upstream, by 30% to 40% through cuts in operating costs and capital spending on new projects, two sources involved with the review told Reuters.... Shell’s restructuring drive mirrors moves in recent months by European rivals BP and Eni which both plan to reduce their focus on oil and gas in the coming decade and build new low-carbon businesses. The review, which company sources say is the largest in Shell’s modern history, is expected to be completed by the end of 2020 when Shell wants to announce a major restructuring. It will hold an investor day in February 2021." in.reuters.com/article/us-shell-costs-exclusive/exclusive-shell-launches-major-cost-cutting-drive-to-prepare-for-energy-transition-idUSKCN26C0GI |
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