Thread regarding ExxonMobil Corp. layoffs

How can a car salesman have any clue about LCS?

Regarding fiscal discipline, it is encouraging that XOM is deferring H2 FID, until policy changes are in place, so maybe there is some hope of LCS projects earning 8% return.

A business entirely dependent on taxing citizens and transferring their wealth to government chosen winners is no business I want to be a part of. What happens when the tax paying citizens decide they don’t want to pay? Until there are market driven ways to invest in LCS I wouldn’t touch it with a 10 foot pole!

LCS is not a disaster, so long as XOM maintains fiscal discipline and Invests only in projects that have a risk-adjusted rate of return greater than downstream or chemicals projects. Right now the LCS projects are all sub-par return (including the Denbury acquisition). Sub par means the projects will likely not earn greater than XOM cost of capital (7 or 8%). Investing in any project with low rate of return will weaken the portfolio, that capital would be better saved, or returned to the shareholder (and the shareholder can decide whether to invest in a cr-ppy return LCS project).

XOM must not invest in these projects until there is cost certainty, and a clear path to profitability. DW just indicated that the Baytown H2 project may be uninvestable...XOM needs to maintain this discipline.

Why did he replace JB?

There is no accountability and most workers will be criticized for smallest mistakes while the leaders at the top blows in billions of dollars and pocket large sums of RSUs and bonuses, the company is bound to fail and sink and that’s the long terms future DW and his buffoons coteries have ensured for us. Let’s blow another hundred millions to build a DAC

Spot on analysis. These exxecutives are destroying America while enriching themselves. Adding zero value and bringing a total short term perspective to please walk street but destroy the company.

He will be your bosses bosses boss before yall know it, so keep that. Snake Oil in a suit.

Besides it being a money pit it’s also a very toxic work culture that is further eroding employee morale. Like we need more of that.

Yep Dan got fired by GM. He had some type of incentive package that if Cruise went public he’d get $20M. He wanted to cash out.

Mary Barra didn’t think it was in GM’s interest to spin it off. Unfortunately that meant no incentive bonus for Amman and he kept pushing the issue until Barra got sick of him.

LCS is wasting the time of geologists intentionally looking for WATER reservoirs . . . let that sink in.

Dan didn’t bail. He was let go.

This is what happens when you hire externally. Xom may get a few good ideas, but by far, most ideas will be poor quality for long term success. DW thought KM was a great hire and she's helped with savings, but it's really crippled xom for the long term. A disaster will happen, just a matter of when.

Yeah dude, he really sold snake oil to Darren and Kathy. And they bought it. Ha ha ha ha ha. But it's the same with all the recent external hires. They're just passing by and making Exxon go bankrupt with wrong decisions. But Darren has no clue of anything so they get away with it.

spot on!

In b4 this thread is deleted