Nice analysis of Chevron's current standings. It does emphasize what we already know - if oil keeps dipping, or even staying where it is right now, we will be in trouble despite the recent upturn.
https://seekingalpha.com/article/4086497-chevron-fasten-seat-belts
1vwp, You idea of Human Energy is not bad at all. I always think of the "Matrix".
@1vwp, every time I hear or read the words "Human Energy", I visualize a big fat slob who eats 3 breakfast tacos every morning, ripping the loudest, most disgusting farts in the rear of the office floor.
It is in the best interest of all laid off oil industry people over the age of 50-55 for the price of oil to sink as far as possible and stay there for a long time. This will greatly lower their monthly and yearly costs since they won't be going back to work. That is the harsh reality. Oil in the low 30's sounds sweet to me. I can't wait for $1.25 gas at Costco.
I got canned last year and am hoping oil goes down to the 30' s. It would make me feel real good to know that another 3-5 thousand people get laid off and gas goes down to $1.50 or less. This industry can eat it.
Chevron has lots of talented and dedicated, hard-working employees - and poor leadership who don't properly harness and use the Human Energy. What a terrible waste.
Yes OP and I need to win the lottery. There is a second option and that is to get a "digit extractor" and use it extensively. When Chevron has lifted its game and is achieving first quartile results the other 75% of the Oil/Gas companies will fall first rather than wishing for the oil price to rise. When times were good everybody thought that it was because of their outstanding abilities, well now you see Chevron was making good money despite itself. Now that the market is competitive Chevron is struggling and that is not just a failure of JW's leadership but of all employees. Yes the report card is out and Chevron has been weighed and measured and found wanting.
You "need higher oil prices", no you need efficiency and to get rid of that all care no responsibility attitude within Chevron.
Yes 1ffs, a Chevron LNG plant runs as smooth as an AMC Gremlin or Pacer. A fine tuned machine.
Why don't we just keep the music playing? As long as CVX keeps making the payroll let the band play on...pump up the volume.
The price of oil needs to increase? That is a sad business goal. CVX is a lot like old, failed auto companies. DeSoto, Oldsmobile, Chevy, and AMC. Engineers must be managing the company.
JW is to Chevron what Obama was to the U.S. Nothing but a useless idiot who looks good in office, but can't perform under pressure.
JW is not worth 1/4 the compensation he gets. Want proof? Fire him and I'll bet you that he can't find work anywhere. His gig is here or nowhere.
I think JW compensation should be quadrupled. He da man
Selling off CVX in entirety, either in parts or in whole, would seem to be beneficial to CVX shareholders. CVX seems to be more focused on operating assets in order to provide Executive compensation and employee pay checks. That has to change. Too many people in CVX. Too many people in this industry. There must be consolidation in this industry.
More sales = More bleeding. That's not a good in the eyes of investors. I'm with -isy on this one (sales are destroying value).
In answer to hgg's question, it appears that since Chevron stock declined today when sale of the shelf assets was announced that the market views the sale as destroying value.
We have a track record of selling what we thought was finished assets, only for other companies to turn them round and make a fortune out of them. Something is not being brought to the table by CVX if that continues.
If assets get sold to another operator, would difference will it make to any Chevroid employee whether value is added or destroyed? What's apt to get destroyed is one's continued employment at Chevron.
Really, what unique value does CVX bring to the operated assets? If the assets were sold to another operator, would value be added or destroyed?
time to tighten the belts close down one of the hq