Someone explain to me, how Oxy is going to transition into a renewable company with a $55b purchase of anadarko. How is it possible? Are we dumping permian for pennies? Who is going to buy it for 80% of what VH paid for it?
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You’ve got problems.
Well, no focus has been put on turning CO2 into HC, yet, but the technology is being evaluated by several companies. If the CO2 is captured from the atmosphere, how is it bad?
Also, carbon capture technologies include CO2 geological sequestration. Man, you’re behind. As an Oxy employee, you should at least know about this
Carbon capture when you use the carbon dioxide to generate more fossil fuels is a terrible idea from a climate point of view. It feeds the selfish interest of a dying industry that has seen its prime. The majors are all shifting to alternative energy sources to help the people of the earth and also to make money for the shareholders, including dividends. That doesn’t exist here.
Nowhere in this video Vicki mentioned that Oxy is migrating to renewables. Carbon capture is not a migration to renewables. It's a good thing, though. It will be very economic and provide a separate source of income to Oxy. Envisioned Oxy transition is to carbon capture, not to renewables, based on what they've said. OP, I'd stop being so negative. If you're an employee, why don't you focus on helping make things work smh.
@eve+19xldVbv VH literally said it herself. You need to keep up...
https://www.bloomberg.com/news/videos/2021-01-21/we-re-not-afraid-of-the-transition-out-of-oil-gas-occidental-ceo-video
Three question marks OP? How ironic.
Where did you see that Oxy was migrating to renewables? What they said was that they wanted to be carbon neutral or even carbon negative. But I haven't heard any targets related to migration to renewables (and if so, what type.)
At this point you don’t need to transform or even have a credible plan for renewable energy. All you have to do is say so and that is good enough for Wall Street.