Take the head of MCBU and put him in charge of a brand new unit for alternative energy reporting directly to the CEO. Are we now serious about lower carbon or is this just more window dressing?
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I missed that. What is the if the new business unit?
Window dressing for the stock analysts and media types. Another hollow ‘business unit’.
I got it … beans
Chief “Digital” Officer or President of “New Energies”. Which position is more useless?
They would have been much worse if GG had been involved. Far worse.
** The BUs went right along their merry way on Gorgon, Wheatstone, ALNG and other gas projects with no regard to whatever stupid things Global Gas was saying. **
Maybe if they listened instead of going their own merry way they wouldn't all be the total dumpster fires they are.
That VP is kind of a douche from what I saw in my time in MCBU last year and watching him during the digital/tech townhall in 2019.
Reminds of the creation of the Global Gas unit years ago. No production, no cash flow. It was created to address investor concerns that we had too much stranded gas. The leader was chosen entirely because of his last name, Gass, an early signal it was not an important business. The absolute worst employees in upstream were pushed into the group - all d-mb loud mouths with no useful experience. The BUs went right along their merry way on Gorgon, Wheatstone, ALNG and other gas projects with no regard to whatever stupid things Global Gas was saying. They claimed results for all the BU achievements which had nothing to do with them and in fact which they typically only got in the way of. Eventually, it all sort of fizzled and disappeared. Gass was put out to pasture.
Had to find a place to hide a chosen entitled ego who has nothing to offer other than gossip and a "divide and vanquish" approach to experience and people with more ability. He, with the help of some of his LT, pushed lots of good people to leave so he could change the BU focus from honesty and competitive performance driven by good people to passive aggressive hunger games amongst the technically unqualified. This is the space where he is at his competitive best.
@miu, The Paris Agreements on Climate Change is a joke of enormous magnitude. It’s global wealth redistribution scheme where a few vastly wealthy billionaires can become even more powerful. Why is China exonerated from the agreement? They are no longer a developing county as they were in the Richard Nixon era.
It’s a tactic to keep Engine No. 1 away and avoid an Exxon situation.
"what's the point of continuing to emit carbon while working on CCSU and carbon credits?"
This is so countries can meet their Paris Agreement targets. Wait, you don't think the Paris Agreement is actually about lower CO2? Really? Why would anyone believe this?
Personally, I don't care, except for the increased cost and loss of freedom.
Post ID: @acl+1c54BDtM
While this may be true, the overall production will not be lower, Other countries will be happy to pick up the demand,
Post ID: @iwh+1c54BDtM
Was thinking the exact same thing!
Quite a downgrade from MCBU to a unit with no production, no headcount and negative cash flow.
I thought the point of no return was 2014?
Last time I checked all the climate hucksters were buying sea level property.
what's the point of continuing to emit carbon while working on CCSU and carbon credits?
https://www.bloomberg.com/graphics/climate-change-data-green/carbon-clock.html
we are almost at a point of no return on climate change. mgmt need to move faster and look into other solutions. stop all these optics play to pacify shareholders.
Yes, cnq+1c54BDtM is correct. In a few decades oil and gas will be a much smaller percent of Chevron …. Either that or Chevron will gradually wither. Nothing will change tomorrow, but if I were just starting my career I would be looking to expand my skill set for the future. As it is, I will retire before the $hit really hits the fan.
It is an acknowledgment that the Titanic is sinking.