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Environment & Energy

Finishline42

(1,172 posts)

1. Stranded assets

Reply to TexasTowelie (Original post)

Wed Nov 11, 2020, 10:08 PM

Nov 2020

The oil business is caught in a trap. In a world rapidly moving to EV, they have a commodity that depends on scarcity for it's value.

There are nation states that depend on the revenue from oil to fund their budgets. Mexico, Russia, Iraq, etc. When the price of oil goes down, they pump more oil, which further depresses the price.

The shutdowns due to Covid will only accelerate the process.

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Highlight:

ExxonMobil's Failure to Go Green Could Worsen Its Financial Future [View all] TexasTowelie Nov 2020 OP

Stranded assets Finishline42 Nov 2020 #1

Absolutely correct. Miguelito Loveless Nov 2020 #3

This is not a "failure to go green" Miguelito Loveless Nov 2020 #2