What's the future for us? It seems like we are about to go into a big sh-t show in 2022 as our pipelines are dry af.
More layoffs incoming 2022? Should I plan for retirement?
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I am amazed at responses here. I am a green badge 7 years running and turned in my resignation last week. Not worth it anymore. Bigger fish elsewhere.
https://www.cnbc.com/2021/11/06/bill-gates-big-oil-companies-will-be-worth-very-little-in-30-years.html
when is CVX gonna start selling refineries?
@1yqi all true except your view on Chevron. Chevron has never been a risk-taker, and has never been an industry leader, just an industry follower with lots of money to play catch-up. Reserves will slowly decline as there is no exploration going on (and quite frankly, nowhere left to drill) and no MCPs to generate cash flow 10-15 years from now. The 'transition' is just a wait-and-see game, unless you really expect farm manure natural gas to catapult to a world-leading position. Chevron can coast with Permian, Tengiz, and Australia for about ten years before the lack of any forward strategy will become painfully apparent. Enjoy your time between now and then.
MW will layoff relentlessly to increase the dividend. Probably none for now but who knows in the future. He needs to go to layoff rehab to stop the addiction.
That's a nice fantasy that Chevron would love investors to believe, but the entire world is turning against carbon-intensity and carbon emissions (intensity, by the way, is green-washing. Chevron total emissions are forecast to RISE!). Investors are divesting. Governments are considering law suits to pay for previous pollution. Consumers are turning away. Any profits to be had in the future will be stripped away by carbon taxes and legal judgements. The stock price will languish and P/E will collapse. Chevron will not invest in another long-cycle MCP and never in another LNG project.
The future will bring ever increasing social and political pressure on energy companies. Oil and gas will remain the foundation for worldwide energy for decades to come. Petroleum will however become more challenging to profit from due to carbon taxes, regulation. lack of external investment and competition from the lowest cost producers. All global energy corporations will respond with trying to become as lean as possible. Eventually over time during this transition many of the current O&G operators will fail and close up shop. The remaining profitable organizations will then be able to benefit from higher oil prices and less competition. I believe Chevron will be one of these survivors who will also be a significant player in the alternative / new energy sources that can be made profitable on a large scale. As time marches on energy companies who have the solid foundation of O&G, achieve efficiency and consistency profitability from their base business will gradually increase their percentage of revenue from modern energy sources and embrace those evolving business models. The world needs energy; the exact type of energy, how it is sourced, developed and delivered will evolve. But generally we should accept the fact that whether it is oil and gas, solar, hydrogen, nucellar, wind or future energy sources there will be corporations making billions every year from that energy. Humanity will never get a free lunch when it comes to the power that drives the global economy, of that you can be certain. Chevron is one of, if not the most well connected energy companies with wall street, global political powers and the elite who truly call the shots (Rockefeller and the like). There will be winners and losers in this energy transition journey, I honestly feel Chevron will be a winner.
From a reliable source, MW is funding to build a 3rd train at ABU Wheatstone. Doesn't sound like lay-offs over there in the ABU.
future likely to see chevron become an oil&gas coy to nursery/landscaping coy
in line with MW direction of planting trees
We know what the future looks like and the sea level will be 3 feet higher in 50 years or so.
Good joke, probably another round of layoffs coming as we speak.
No more layoffs.
OP, Why are you asking a layoff site whether you should retire?
Someone needs a history lesson. How many times has oil collapsed, layoffs, exploration stalled, supplies declined and then BO-M TIMES RETURN! This time is different, you say, because we are switching to a low carbon future. Dream on! FIRST we need to build the new energy production infrastructure, then the consumer supply infrastructure, and then the new vehicles, home heating systems, etc. This could all very well happen some day, but last I noticed the world highways are still full of gas guzzlers, the jets are still power by oil, the ships still have huge oil tanks, and most electricity is still generated by hydrocarbons. Some day the oil industry may die, but I suspect by then I will be retired and long die… and my son will also likely to be retired and long dead. Between now than then there is a lot of money to be make in petroleum.
Im 40 and im planning for retirement with Chevron and to never work again. If next year comes the axe, ill take the severance.
No one knows about the future, focus on present and do not worry too much, life is short, enjoy at best you can.