Exxon, Four Years Ago, Pioneer discussed on Switched On
And then the question is do you produce a lot. Put all your capital into increasing supply or do you keep production flats in just generate returns. The third option would be detained capital and transition it to some other energy source or some other type of growth for the company. And i think that's a question that especially some of the bigger more financially sound of these companies are starting to think a bit about. We're starting to see pressure on and you can see this obviously at the highest levels with exxon having the Activist investor pressure now to change their board japan thinking about things the some of the bigger independence like occidental. Pioneer are also starting to talk about what their emissions are. Um what their plans are for sort of the longer term lower carbon future and they've made investment in go ahead sorry exactly that they've made investments and things like a carbon capture. They're doing things like emissions tracking which makes sense. You have biden newly-elected in a new focus on emissions and then you have sort of the demand picture you can't escape to right. We just published our the electric vehicle outlook for enough and it's showing an even faster adoption of electric vehicles globally than we anticipated before so it looks like people. Peak oil demand is going to start edging even closer and so especially when the outlook for oil is looking more and more tenuous. The question comes if you are doing this long term strategy of financial returns. Do you just ride out. The oil wave is decline slowly. Or do you try and actually pursue other industries okay. These aren't just little debate. Caesar existential questions is is pretty heavy stuff and i think in the electric vehicle outlook that just came out. They said they can pretty confidently call peak new automobile or new internal combustion. Engine vehicle sales What four years ago i believe. So that's a you know indicator of what's to come for oil. I mean yeah. Wow okay existential..