At some point they are going to shut us down, and from what I can tell they could care less about all the jobs the energy sector employs. With the buyouts and this type govt actions jobs are going away daily for our industry.
https://www.msn.com/en-us/money/markets/biden-administration-issues-final-five-year-offshore-drilling-plan/ar-AA1lzzVP
@7zgt+1q6KMSh0, demand always ebbs and flows as does industry employment levels. This is not new. Are you predicting a permanent global reduction in demand? If so, this is contrary to most consumption estimates I have read. Where do you think future energy will come from? Wind? Solar? Nuclear? Hydro?
I heard it was some asset called guerilla something.... she also mentioned selling some of crown rock assets and some in the permian
If the world no longer demands as much oil for whatever reason why should the industry stay at the same level of employment. This is not a charity industry.
Oxy and Hess had top 5 bids and accounted for~25% of total lease sale in those 5 bids.
Oxy could build their new HQ with the cash they left on the table.
Oxy just exposed the the second largest amount of money of any company in this weeks GoM Lease Sale & was only $1MM away from being the highest bidder of the Lease Sale… sounds just like a divestment asset.
No way they are getting rid of GOM. They would dump North Africa before GOM.
This is why Oxy is going to sell the gom to fund the Crownrock acquisition. Too much safety risk - see Piper Alpha and now you have too much risk of the democrats shutting down offshore.