36 Burst results for "Exxon"

Fresh update on "exxon" discussed on Cardionerds

Cardionerds

00:53 min | 13 hrs ago

Fresh update on "exxon" discussed on Cardionerds

"Hemorrhagic stroke well okay but you know what the sparkle trial actually web much lower in show in randomized fashion. That it's not attained. Ldl that increases risk for hemorrhagic stroke. It's actually history of hypertension. Our history hemorrhagic strokes. And then if you look at the odyssey outcomes trial in comes. They very clearly showed that even with ultra-low ldl. There was no excess Stroke and actually seth martin air nikos and your colleagues in my colleagues at hopkins wrote a very very elegant and listen circulation which i think should be required reading for everybody interested in this issue and it really put to rest this issue of well low. Ldl increases risk for hemorrahagic stroke. And by the way in every meta analysis ever done they've never been able to show a statistically significant relationship between hemorragic stroke and low. ldl at most. They may detect a two or three percent signal. But you know you can't speak out of both sides of your mouth if you say that. It's not statistically significant terms of benefit that. I don't think you should talk about it being significant when it's not statistically significant adverse that and moreover let's say that a two or three percent change in hemorrhagic stroke was significant and you're doing a meta analysis of one hundred seventy thousand patients like that cholesterol treatment. Trial is collaboration. Did that would tell me that. If you really wanted to demonstrate significance you'd probably need between one and two million patients were at the data that also tells me it would be a distinctly rare now. How about for cognitive impairments. Well you know what night if you're bored and you can't sleep and you get out of bed and you feel like listening to something depressing like mahler's seventh or you wanna you wanna listen to our shasta kovic symphony than look at the blogs about lipid lowering and cognitive impairment. It is incredible the things that people say and none of it is rounded science. So why do i say that well you know. The heart protection study was published at least eighteen years ago looked at the issue with validated cognitive batteries. And they were not able to demonstrate any difference between groups tree with staten russia's. No staten and they said we can't detect a signal. The prosper trial actually had patients between seventy five eighty two years of age by the time it was done and they did exactly the same thing. They evaluated four ballet cognitive tests on patients enrolled in prosper and these patients were older and obviously the older you get the higher the risk of dementia. They also did not find a relationship and when they did a meta analysis of hp s of prosper. They also found the relationship. You're gonna see a bunch of new papers coming in the literature showing no relationship. And then you've got the granddaddy of this whole thing else. Webbing house was extremely important. Because now you're looking to see if there's any evidence of cognitive impairment in patients treated more aggressively than ever before and ebbing house using cambridge battery which evaluated five executive functions unable to find any before after differences now what was even more important as published jack last fall when they looked at patients questionnaires in ebbing house. Even the patients did report any difference before and after treatment. So why does this make sense to me. It makes sense to me because your brain couldn't give a damn what drug is doing to your lipids and level proteins. Don't cross the blood brain barrier that the blood brain barrier is a highly efficient barrier liable. Proteins don't cross so your brain has evolved to produce all of its own cholesterol. Alexander sites produced the cholesterol for your mylan for make neurons at exxon's and it's actually astra sites which produced cholesterol for the neurons. How this is really cool. Your braid as its own able protein in will protein metabolism. It's the abc membrane transporters and the astros isolated thunder sites. Make sure that neurons can just focus running.

ONE TWO One Hundred Seventy Thousand P Three Percent Two Million Patients Seth Martin Air Nikos Both Sides Last Fall Eighteen Years Ago Seventy Five Eighty Two Years Mahler Five Executive Functions Hopkins Russia House Kovic Symphony Mylan Shasta Exxon Seventh
Engine No. 1’s Big Win Over Exxon Shows Activist Hedge Funds Joining Fight Against Climate Change

The Economist: The Intelligence

00:55 sec | 3 weeks ago

Engine No. 1’s Big Win Over Exxon Shows Activist Hedge Funds Joining Fight Against Climate Change

"And so how did this vote actually come about a small hedge fund called engine number one which was just recently formed and which holds a very tiny stake in exxon mobil far less than one percent manage to galvanize support of massive investment funds like calpers which is californian mega pension fund. The new york state employees pension fund out more than a trillion dollars worth of capital are held by some of these more progressive pension funds. That are very interested in the issue. Climate change it won the support of important proxy advisory services as they're known such as i s in blast lewis these agencies give recommendations that are often followed by the big institutional investors on how to vote and they both supported the tiny dissident for a change in exxon

Exxon Mobil New York Lewis Exxon
Marketing Missing In Conservative Views

The Dan Bongino Show

01:10 min | 3 weeks ago

Marketing Missing In Conservative Views

"Said I've been around He shall remain nameless. This guy I've been around Republican politics for a long time. And the problem is all of our donors who influenced the message. They're like commodities type people, You know they're in the petroleum industry, the gas industry and there's really no marketing in that. It's not like you know, if you go toe Exxon or you go to BP, like, Hey, go to BP. This gas is really super hip cast. You're like it's gas. Whatever you stop, whatever gestation, whatever the price is cheaper. So, Yeah, There's a little bit of marketing in it. But the people who run those companies and influence the GOP and the message, air quotes Don't really have any skill in marketing. And I listened to him and I said, Ma, it's pretty genius. Trust me. This guy, this guy I've been around a long time. He said. On the other hand, James, wait his eggs in mortar that yes, there is, he said, on the other hand donors that influence liberals and the Democrat Party and get their message pushed into the Democrat ecosystem. Roll the tech people where marketing is everything. Your

BP Exxon GOP MA James Democrat Party
Big Oil Companies Take Some Big Hits on Climate Change

Environment: NPR

01:50 min | 3 weeks ago

Big Oil Companies Take Some Big Hits on Climate Change

"I'm looking here to list of the biggest corporations based on their market capitalisation what the company is worth overall. Exxon ranks thirty third which is pretty big. It's a big company but it used to be number one. Exxon is worth a fraction of. What some big tech companies are these days in fact. Exxon is worth a lot less than exxon used to be worth. It faces big uncertainties because of climate change and that is the context for a meaningful shareholder. Move a tiny hedge fund managed to place two new directors on exxon's board and maybe more in an attempt to shift exxon's business strategy toward renewable energy. it's one of many oil companies under pressure. So we're gonna discuss this with. Npr's camilla dominance. Good morning. Good morning what happened to exxon well. A brand new hedge fund started last year with the express purpose of putting new members on exxon's board over the intense opposition of exxon's current leadership. This hedge fund argued that one exxon had made bad investments. That's part of the reason why they are not the corporate titan that they used to be like you mentioned they also said fundamentally. The exxon doesn't have a good plan for preparing for a world that tackling climate change and. I'll emphasize here. These are investors making an a financial argument other investors right. They're not saying exxon needs to stop burning oil because it's bad for the planet. This argument is look. The world might stop buying oil because of concerns over climate change so exxon better have something else to sell them. It'd be bad business not to prepare for that. And this tiny fund persuaded enough other shareholders to join them that they actually one at least two of these seats in in this election.

Exxon Camilla NPR
A Tiny Fund Scores Historic Win in Battle Against ExxonMobil

Marketplace with Kai Ryssdal

00:39 sec | 3 weeks ago

A Tiny Fund Scores Historic Win in Battle Against ExxonMobil

"Energy leads the way kinda surprising. News out of exxonmobil's annual shareholder meeting today ticker symbol x. Oh by the way turns out a hedge fund a relatively small a hedge fund called number one which holds a very small slice of exxon mobil. Stock has convinced some other much bigger shareholders that they should put a couple of engine number one's candidates on that company's board of directors candidates that would and this is the important part force exxon to cut back on its fossil fuel strategy and investments. And do more about climate change. It sounds insanitary. I suppose a little bit of corporate governance but it is a very big

Exxonmobil Exxon
Interview With Ian Dunlap, the Master Investor

Toure Show

01:36 min | Last month

Interview With Ian Dunlap, the Master Investor

"You've been doing a lot of work. Educating and inspiring black people on how to get wealthy via the stock market so break down your basic thesis. How do we get wealthy via the stock market very simple. We have to invest every month. Always try to tell. People get it years prior fifty years prior six years prior when we invested. Oftentimes our grandparents will go back. The money was not there or we invested in insurance. The money wasn't there but now there's a lot more transparency. We have to invest every single month. So even if you put five hundred dollars a month into the market into index fund which exxon is just like a basket or collection of stock. So if you don't know the one pick it gives you a bunch of companies bundled together and over thirty year you can have roughly million dollars depend on if you get anywhere from seven to twelve percent Interest on on those gains. So i mean last year was exceptional because we were at thirty and forty percent. We won't have the same thing this year but year-over-year you showers about twelve percent and then always tell people to get half index funds have technology stocks. And because we are living in technological age we have been since the early nineteen nineties. Like around four That clinton help usher that wave in the does the best blueprint to go with all the companies that we all love. Apple microsoft's zone will run out tesla instagram's owned by facebook. Those are the biggest companies that we are that we have in the world and we should put our money installs companies to be able to secure our.

Exxon Clinton Tesla Instagram Apple Microsoft Facebook
Slurpee (MM #3693)

The Mason Minute

01:00 min | Last month

Slurpee (MM #3693)

"The Maison with Kevin Nation. I did something yesterday with my wife that I hadn't done in probably 30 years and I'm just guessing here. We went to seven eleven for a fact, it was enjoyable. Reason, I haven't done it in so long as I haven't lived anywhere where there have been seven-elevens for a long time. The grant I've been here in Nashville, fifteen years and what we, finally, just started getting seven-elevens over the course of the last month or two off of the local Exxon dealers. Went from Tiger Mart, sand, kind of sold the franchise out to 7:11. So I'll 7/11 was here back in Nashville back and they think the seventies and maybe into the eighties. By the time I started coming around to town in the mid-80s, they were long gone. And I had lived anywhere, but had a 7-Eleven literally in probably 30 years. Virginia Beach had seven-elevens when I was growing up in the high school and college Years. And so probably goes back to at least, then when I last had one, it was good, it was enjoyable, it was fun. But I don't know what this point in life. How much it really mattered? Am I going to go back every now? And again for a Slurpee like I did back in the good old days. Well, you know, I'm not going to but for one day, it was good to be young. Again, hard to believe, that 7-Eleven hasn't been in my life for a long, long time.

Kevin Nation Tiger Mart Nashville Exxon Virginia Beach
Slurpee (MM #3693)

The Mason Minute

01:00 min | Last month

Slurpee (MM #3693)

"The Maison with Kevin Nation. I did something yesterday with my wife that I hadn't done in probably 30 years and I'm just guessing here. We went to seven eleven for a fact, it was enjoyable. Reason, I haven't done it in so long as I haven't lived anywhere where there have been seven-elevens for a long time. The grant I've been here in Nashville, fifteen years and what we, finally, just started getting seven-elevens over the course of the last month or two off of the local Exxon dealers. Went from Tiger Mart, sand, kind of sold the franchise out to 7:11. So I'll 7/11 was here back in Nashville back and they think the seventies and maybe into the eighties. By the time I started coming around to town in the mid-80s, they were long gone. And I had lived anywhere, but had a 7-Eleven literally in probably 30 years. Virginia Beach had seven-elevens when I was growing up in the high school and college Years. And so probably goes back to at least, then when I last had one, it was good, it was enjoyable, it was fun. But I don't know what this point in life. How much it really mattered? Am I going to go back every now? And again for a Slurpee like I did back in the good old days. Well, you know, I'm not going to but for one day, it was good to be young. Again, hard to believe, that 7-Eleven hasn't been in my life for a long, long time.

Kevin Nation Tiger Mart Nashville Exxon Virginia Beach
Slurpee (MM #3693)

The Mason Minute

01:00 min | Last month

Slurpee (MM #3693)

"The Maison with Kevin Nation. I did something yesterday with my wife that I hadn't done in probably 30 years and I'm just guessing here. We went to seven eleven for a fact, it was enjoyable. Reason, I haven't done it in so long as I haven't lived anywhere where there have been seven-elevens for a long time. The grant I've been here in Nashville, fifteen years and what we, finally, just started getting seven-elevens over the course of the last month or two off of the local Exxon dealers. Went from Tiger Mart, sand, kind of sold the franchise out to 7:11. So I'll 7/11 was here back in Nashville back and they think the seventies and maybe into the eighties. By the time I started coming around to town in the mid-80s, they were long gone. And I had lived anywhere, but had a 7-Eleven literally in probably 30 years. Virginia Beach had seven-elevens when I was growing up in the high school and college Years. And so probably goes back to at least, then when I last had one, it was good, it was enjoyable, it was fun. But I don't know what this point in life. How much it really mattered? Am I going to go back every now? And again for a Slurpee like I did back in the good old days. Well, you know, I'm not going to but for one day, it was good to be young. Again, hard to believe, that 7-Eleven hasn't been in my life for a long, long time.

Kevin Nation Tiger Mart Nashville Exxon Virginia Beach
Oil Giants Recover as Prices Rebound

WTOP 24 Hour News

00:12 sec | Last month

Oil Giants Recover as Prices Rebound

"And as because oil prices are finally recovering. Exxon posted its first quarterly profit in five quarters last quarter. Chevron's profits rose, although its profits are still down

Exxon Chevron
Why Only Engineering ? Is there world outside it? - burst 3

Sadharan Baatein

45:08 min | 2 months ago

Why Only Engineering ? Is there world outside it? - burst 3

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I will freely move nuclear percent that'll Local audit lem beheading. You buy that i did. You can g course. It's deep conversation. So how the hazard on that. Bill column normal upkeep shaima Could enlarge This you feel an english Which nicoting though. I get him yet. He pissed off of ugly side auburn. Yeah so the killian times.

Jan Kucher Negoti Nandita Geraldo Gate Mishopin Redick Gustav Beg Gadgil Madonna Gionta Fedral Norris Nutting Jo Tampa Guantanamo Naik Jewel Kalija Peterman Douglas Joe Yelich King Kinglsey Puga Mafi Doogie Sturdy Katrina Reggie Smith Took Michelle Kuby
The Natural Gas Boom Appears To Be Going Bust

Climate Cast

01:30 min | 2 months ago

The Natural Gas Boom Appears To Be Going Bust

"Son natural gas as the bridge fuel to a net zero energy future but the rapidly emerging climate solutions mean. That bridge is getting shorter fast. I'm npr chief. Meteorologist paul hutton. Her and today on climate cast is the natural gas boom going bust. Justin mccullough is an independent journalists covering the finances of the energy transition. Hi justin welcome to climate cast. I paul thank you very much. So big companies like shell bet big on natural gas what are emerging solutions to the economics of natural gas. There are two main challenges to show all the people who had bet big on the future of natural gas and specifically liquefied natural gas. Renewable energy now can produce electricity for lower costs than natural gas. Fired power straight up competition. The other issue is there's oversupply right now. What level of investment are we talking about to get into these projects you know when shell bet big on the future of natural gas they in two thousand sixteen. They bought a company for over fifty billion dollars in two thousand and nine exxon company for over forty billion dollars. Exxon has since written off the majority of that forty billion dollars as a loss and it now appears that shell is facing similar problems with its fifty billion dollar investment in natural

Paul Hutton Justin Mccullough NPR Justin Paul Exxon
In shift, oil industry group backs federal price on carbon

News and Perspective with Tom Hutyler

00:22 sec | 3 months ago

In shift, oil industry group backs federal price on carbon

"The top oil and gas industry lobby group is now endorsing putting a federal price on carbon dioxide emissions. Reversal designed to show seriousness and addressing climate change. The decision by the American Petroleum Institute, whose members include oil giants, such as Exxon Mobil and Chevron, ends the group's longstanding opposition that helped sink cap and trade legislation just over a decade ago.

American Petroleum Institute Exxon Mobil Chevron
Nasdaq tumbles to correction territory after Powell comments

Yahoo Finance Market Minute

00:50 sec | 3 months ago

Nasdaq tumbles to correction territory after Powell comments

"Are selling off with the nasdaq down about two percent the s. and p. Five hundred down more than one percent. The dow also down more than three hundred points or one percent. Lower this selloff has been triggered after fed chair. Jerome powell gave comments about inflation triggering. A treasury yield. Jump just as we've seen in other sessions when the treasury yield goes higher than the markets sell off looking at some of the biggest losers today those include the semiconductor space invidia. Amd micron all lower today. Also tesla is lower as well some of the energy sectors stocks though are in the green with exxon chevron those are some of the traits that investors have been leaning into away from technology and into value stocks for more

Jerome Powell Treasury Amd Micron Exxon Chevron Tesla
test

Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)

04:43 min | 4 months ago

test

"Mary frank johnson. Welcome to technician. It's great to speak with you. Thanks so much. Peter i always enjoy talking with you. I do as well so please on the record at this point. I'm i'm as somebody who is a luminary ao space. You do not need a big introduction with my audience. I don't imagine but you are perhaps best known. As former editor in chief of cio magazine the the moderator of the cio leadership live broadcast which is just a phenomenal phenomenal series of interviews with with leaders in the tech space x os with a healthy dose of course of chief information officers as the name suggests and a prolific writer. Somebody who's wisdom. I know my team. And i have have gained mightily from across the years as well so i'm so pleased to to have this more formal conversation after many many informal ones with you okay. Well thanks very much peter. I we've got a lot of great stuff to talk about indeed indeed wipe. We begin at the beginning at least as relevant to the cio space. You're not somebody who grew up with immersed in technology You are somebody who The written word came the more easily to the dentist too many others. Perhaps and and you were focused on journalism. I wonder what was what was the genesis of your time In focusing your skills on the cio. Space okay thanks. Exxon question and i love telling the story because i think that it reflects so much of how many of the it leaders cio's that we both know today ended up in the positions that you know they were music majors or they majored in english literature and history and then they got really interested in data side of things for me. I had started out. I spent ten years at daily newspapers. In florida and ohio in washington state and i reported on everything from city and county commission beats to k twelve education to police even state politics when i was two bureau chief for gannett news service out in columbus ohio and then we were moving to the boston area in nineteen eighty nine. My husband was an atmospheric scientist and he was taking a job in cambridge and so naturally i went reached out to the boston globe and to the boston herald and the it was. Nobody was hiring. So i was. We were arriving in the boston area. And i had heard about a very vibrant technology publishing world here and so i had examined it somewhat and made some phone calls A lot of this was so far before the days of regular emails. And you know we weren't living on our phones. Then so i was just applying my reporter skills to it. And i ended up getting a copy of computerworld mailed to me and sat there. I remember sitting there in my living room in ohio looking through it and feeling somewhat reassured that i could understand about what have the stories were about And then on the drive from ohio to massachusetts. I basically grill my husband One side down the other about the computer industry. Because i was coming into it only knowing that ibm made typewriters and the rest of it was kind of a big mystery. But i had been using some of the very early unix. That was vi editor on unix. That you could use to do work on. He had some sun workstations and very early versions of sun and unix workstations at our house and so i used that a little bit. And i remember when i was in my interview for the computer job with The executive and executive editor in the editor chiefs of computerworld. I think they were very impressed. That i was referring to things like vi editor in youth so but computerworld at always hired. They hired reporters who could learn the beat. And i think that's pretty much the way almost everybody on the tech journalism side got into it. They were journalists bite training. Then they do. They dove into their beats. Because one of the things we discovered trying to hire people over the years if you try to higher in a technical person and hand the technology beat they wouldn't know the story angle with fell on them so it was really important if you were genuinely out there reporting And then i found enjoyed it. I just enjoyed it so much and by the time i was a couple years into my job at computer world when the boston globe was to interview people and hire all. But i wouldn't left for anything at that point it just it was such a. I just enjoyed the way. The story kept changing and advancing and moving forward.

CIO Mary Frank Johnson Ohio Cio Magazine Boston Globe Gannett News Boston Exxon County Commission Peter Boston Herald Columbus Cambridge Florida Washington Massachusetts IBM SUN
The Future of Digitization, Innovation, and Customer Experience

Future of Tech

04:48 min | 4 months ago

The Future of Digitization, Innovation, and Customer Experience

"Bit back into history. Because i recall once we spoke about a journey that you had within comcast obviously building x want so i wanted I alone if you can share with the audience you know what is x one and then maybe few lessons from the journal making x one such a big success so the x one l. Backup the story. Where when i first joined comcast and was leading the advance video. Products group are set. Top boxes were the user experiences where we always called the blue screen but it was. It looked like something that was built on visual basic rank. The screens were little ovals. And you could pick something. And then there'd be a bit of a delay and you go to the next menu with a bunch of ovalles' you've probably a bit Then your commodore sixty four but not not the not much not much not much and none of us were really proud of the experience back. Then but that was the stated technology back then and we had partnered with a couple of companies to try to bring it to a new interactive level. And we just could not like the technology in cable had just was fairly stagnant when it came to video interfaces and so we ended up starting from scratch. It was originally a project called caliber. Where we went. And from the ground up in this was really tony werner in sri coattail with our organization started this initiative which eventually became x one where we decided to build a new video platform from the ground up and so the user experience. Now you would probably take it for granted but when we were doing back you know. I'll say ten years ago. It was stated the are where all the video was very graphical the menus or graphics and tyler and very easy to navigate and it's blended between linear tv and on demand as well as internet video. So everything's blended together. We have music in there now. So just it's really a entertainment system at this point and so that's what we ventured out to build and in winter number trials but then mass launch not just comcast but we also provided as service to other. Ms owes so for instance. Communications in the united states is a customer of ours. they use the x one platform rebrand. But the main lists from from this. If you need something to happen you need to develop on your own. Or i think the funny thing was. We didn't really set out saying we wanted to build something on her own. I think we tried to partner with a couple of companies in the past against inter. We get there. But i think one lesson for us was when you really do have to. You know transform a product space or an industry. Sometimes you just like we took team and put them in another building. You kinda sometimes you just have to step away from from all that you know and go start fresh and i think we tried multiple times not do that but we finally realized that was the only way to really break the paradigm in so that was really important. We felt as the largest broadband operator in the country that we needed to start to become more of a leader in less as less a follower of technology and so i think that was our way of figuring out how to serve lead in this space. I will say we did learn mean first and foremost we learned how to build software italy. Which was that was really. The biggest challenge for us was we'd always built. Software is oh saying earlier where someone wrote a big spec you know the product team would write a big spec handed over to engineering team. The engineering team either term to a vendor and give them that spec or start to build it themselves and the exxon was really the first time where we took on a massive initiative and singled out how to build software and build products inevitably. And that was. I think that changed the company that that changed us from being a buyer of technology to understanding how we could build it ourselves and the right way to build it ourselves it also impacted the way. We work with technology companies. Because when we did that we decided that's the way that's the way we want. Our technology partners should go software so it it started to create a bar when we dealt with technology partners it vade it and build software that way we really didn't want to be buying using their software like we. We started pushing all our partners that if they wanted to have a strategic relationship with us long term we expected them to injury and build more modular solutions and iterative quickly with their

Comcast Tony Werner SRI Tyler United States Exxon Italy
How the state of the oil and gas industry affects the city of Houston

Houston Matters

03:55 min | 4 months ago

How the state of the oil and gas industry affects the city of Houston

"As you may have heard earlier on morning edition. Oil giants were expected to make up some of their financial losses in the last quarter of twenty twenty but final earnings reports released. This week show. That was definitely not the case. Texas headquartered exxon mobil reported a fourth-quarter loss of more than twenty billion dollars. Bp which has its headquarters here in houston recorded a full year loss of five point. Seven billion houston headquartered conaco phillips two point seven billion lost in twenty twenty demand for crude oil dried up last year after officials called for lockdowns and travel restrictions due to the pandemic and there was already a glut in domestic supply not a good equation for the industry and the news may not be much better for oil and gas so far in twenty twenty one to discuss. Why and how it may affect houston. We're joined now by energy writer lawrence steffi. Who's the managing director for thirty points strategies. A writer at large for texas monthly and columnist for energy voice dot com lauren. Good morning good morning greg. Thanks for having me glad to have you with us. The pandemic has obviously played a big role in revenue loss for many companies. How specifically has it impacted the oil and gas industry over the last year. Well i mean you just discussed the earnings numbers and i think that that's You know one of the big impacts. I mean we've had this very unique situation over the past year where we've had an environment of low prices and low demand which is really pretty unique in the history of the industry and it's It's good a lot of companies in pretty tough spot. Does it also signal what we may see as sort of the ongoing future for this industry. Yeah i think there's sort of two it you have to take in the shorter term. Prices have come back a little bit. we'll see if the industry has you know enough financial discipline to to hold the line on that But but i think in the short term you know as vaccines roll out and and more people are able to travel again. You're going to see a pretty big spike in the band. I think when you look beyond that though you have to sort of recognize what's happening in the market and basically a lot of things are moving against the oil and gas industry You know investment is moving away from fossil fuels government policy. Worldwide is moving away from fossil fuels and even consumer choices. Moving away from fossil fuels. And that's especially true when you look at things like gm's announcement to go to a zero emission sleep by twenty thirty five. You're gonna see more products available. That consumers will give consumers an alternative to oil and gas. You mentioned government policy. How might the biden administration help or hinder efforts of the big oil and gas companies to balanced back in the coming year. Well i think you know. The biden administration has made it very clear that they want to pull us into greener energy future. Which is fine. Where i think they're being disingenuous. Is that for for many years now. Democrats have touted. You know the idea of green jobs as being replacement for jobs will be lost in the world gas industry and i think that's really You know just not accurate. I mean there's no way you're gonna replace the number of jobs you're gonna lose You know if you just think about it. It takes fewer people. To maintain a windmill does oil rig. And so you know some of those those jobs especially on the frontlines the gas industry or not coming back And that's important because those are high paying jobs. I mean it's one of the few areas in the united states where somebody with a high school. Education can still make a six figure incomes. So those are gonna be tough jobs to replace. I think the democrats need to be more honest about that situation. The other side of the coin You see republicans digging in decrying the loss of jobs that are gonna come from these policies but you know we've lost sixty thousand jobs in texas in the oil industry in less than a year And there hasn't been a lot of leadership on the republican side. We're how we're gonna manage this transition. So i think both sides need to provide some leadership and start and stop throwing around you know ideology and And actually try to try to offer some concrete solutions for the people that will be most

Houston Conaco Phillips Lawrence Steffi Biden Administration Exxon Mobil Giants BP Lauren Texas Greg GM United States
Houston's Big Oil Isn't So Big Anymore

Houston Public Media Local Newscasts

00:37 sec | 5 months ago

Houston's Big Oil Isn't So Big Anymore

"Me ma houston's oil and gas companies are looking for ways to recoup from one of the most challenging years on record energy reporter. Kyra luckily has been going over new financial reports at show billions of dollars in losses. One of most stunning reports is from exxon mobil which says it lost more than twenty billion dollars in the last quarter of twenty twenty. That's after exxon posted more than one billion in losses for the first three quarters and laid off over seven hundred houston workers mostly due to the pandemic other companies. Like conaco phillips. Halliburton are reporting hundreds of millions in losses for the fourth. Quarter

Houston Kyra Exxon Mobil Exxon Conaco Phillips Halliburton
interview With Sana Saeed

Diffused Congruence: The American Muslim Experience

05:36 min | 5 months ago

interview With Sana Saeed

"Welcome to abuse congruence. The american muslim experience episode one. Oh wait. I'm sorry you're codes and as usual. I enjoin by. Hey welcome back listeners. Welcome back We this is our first episode of twenty twenty one but it feels like a lots already happened in this very short year or short lived year. So far we've got a lot but here we are on good to be back and get you back with. You are things i guess. All things being equal These k- Have some family members were affected by cove. Unfortunately so bring them Just distracted long. I mean china. Try not to get distracted by polit political stuff and keeping on it super interesting but other than that just getting back in the swing of things in life and that of course keeping the family members who who were in their situation some. Yeah i mean interesting about the political stuff being kind of The least of all adjectives as you describe it but anyway we're super excited to have our guest on the show today and omer if you wanna honored as long as marquess. Absolute son is the is the host in senior producer who has been with. Aj plus since two thousand fourteen hoping. Watch the channel. She's a canadian so most of her life in the us and is interested in politics. Religion culture end She works to stay out arguments on twitter as she has a background in media critique and analysis in has had worked in appear in the new york times the la times courts the guardian salon. And of course aj so. Hey thanks so much for having me happy to be here. Yeah it's great and so you. Avoid twitter fights that that that defeats the whole purpose of revenue on this show. I mean usually told us that when we were booking. I'm i'm jay. Try to successful at avoiding twitter fights. That's right. I'm relatively new to twitter and I've unfortunately gone up on the deep end and But which is some of the stuff. I'd love to talk to you about as someone who obviously studies media is involved in media and I i i'm sure as social media being a part of that so But yeah i guess before. We get into that meteors stuff on not to say that Will be what i do want to start off with is not me but i'd love to kind of talk about your background in as we like to call it the origin story. So tell us about says aids origin story and We we'd love to hear that. I know that you did spend some time in the bay area. So i'm i know that's where our paths crossed on. However i know there's so much more to the story we love to hear that and you could start way back as a as you'd like sure yeah So i was actually born in pakistan. I was born in lahore and My family background is kashmiri And we're lake whereas a lot of kashmir's inbox on her infant job as well. We're like the pajama fight. Kashmiri's but like my family is extreme has actually retained a lot of kashmiri customs and identity. It's been that's always been really interesting. The way we kind of have balanced those two identities very strongly And like my family also emigrated from kashmir basically at like a little bit before and during the the petition. Yeah during the partition. So yeah i was born in exxon. And when i was about like four or five months old. My parents My dad had already moved at that point. He had moved to the united states. Kind of like take the family business there And my mom. And i filed suit and in nineteen eighty eighty seventy eight. We were in In new york. So when i was in new yorker basically up until the end of ninety nine early two thousand so grew up in initially flushing queens and then eventually to Moved onto a long island. Washington long island which is where i grew up And your basic so. We have citizenship. The only person in my family who has us citizenship is actually my brother. Since he was born there so we then applied for canadian citizenship and ended up in canada and moved to vancouver. I was there for up until i had to go to college then. I moved to montreal. I went to mcgill where i did. I from my undergrad. I studied political science in italy studies. And then i continued on ethicon decided. I'm like don't wanna do law school. Do i want do grad school. I ended up applying to only one loss one one grad school and because my french fluency at that point was not that great. I ended up not getting into the mcgill law school because they do require french fluency so I went to grad school. And i did islamic studies and that was To be honest it was the greatest blessing and it was the greatest blessing. Not because oh you know. You're studying islam except it was a blessing because Doing that masters program really kind of set the stage for i would say my approach to

Twitter Kashmir La Times New York Times China JAY Lahore United States Bay Area Exxon Pakistan Ethicon Mcgill Law School Mcgill New York Washington Vancouver Montreal Canada Italy
"exxon" Discussed on The Energy Gang

The Energy Gang

06:22 min | 9 months ago

"exxon" Discussed on The Energy Gang

"Big corporations are big corporations and they try to escape by with as little responsibility as possible and I don't think next air at takeover of Duke would necessarily change that equation dramatically. But if we just look at a purely renewable energy perspective Duke does have a track record to build on and so if you're thinking about a mega renewable energy developer like next era pairing with Duke Energy, there is some crossover so. I mean. Far Bigger conversation I do WanNa talk about Exxon Mobil really quickly and their plans to increase emissions As we said there is this Bloomberg investigation unveiling documents showing the Exxon Mobil plans to substantially increase its emissions over the next five years, and this is in direct contrast to many of the other oil majors particularly European majors that are Claiming that they're going all in on the energy transition and have announced goals to reduce their own internal carbon emissions and to attempt to reduce emissions from their products out in the world. So the question is, is Exxon Mobil standing alone? On this Melissa, what is your reaction to this plan? Pre Pandemic Plan? I should say I mean I don't think they're standing alone. I think that they very publicly standing in a place that. I mean, if I was an investor I'm like. Well, that's a lot of risk I'm like you're planning for not the future that we're working towards and that if you look at trends if you look at trump's and cost of renewables if you look at. Adoption, of electric vehicles, I mean there's so many to me. Huge flags blinking saying this is not the direction we're going in increasing emissions. That's-that's big risk. So I don't I. Don't think they're alone I would like actually I know they're not alone because I know those types of conversations are still happening in some companies, but for someone so big, it's. I would like to be a fly on the wall and to listen to those conversations and understand how they're. On the hand, the executive. I WANNA be a fly on the head. I mean look this is what we said back in August right which was that that Exxon and Chevron are likely to that. They are the world's best risk managers in which I don't believe but they believe and so that they believe that if b Selling that, they're likely buying, right? Which I think they were released last week that they said, roughly a hundred billion dollars of assets would trade hands the next couple of years in the oil and gas sector, and so there will be some people buying and some people selling an Exxon saying they they WANNA be buying. And I get that visit I mean they're looking in and it's a Chatham House rule conversation, but I was speaking to. Well known CEO of one of these types of companies and he's like, yeah. So here's the deal I think I've got one more cycle to make a heck of a lot of money and I'm GonNa make a lot of money in that cycle and then I'm gonNA sell everything off. But I think that when I do my calculations, it makes sense to ride out that cycle and make a ton of Prophet and I'm like well. I mean I get your driven by those economics and you want to get that last bit of juice out of the orange. Okay. You know that's that's where his priorities are but I don't see how it setting you up for long term success and I certainly think it's going to put you behind a lot of other companies and we spoke about an August the difference Stephen alluded to it the difference between what we're seeing in terms of social license and the perception of that between European race companies, American companies and I. Think. You're seeing this just continuing to play out yeah I. think that I mean that's the part that's really missing right is it I'm actually not as offended by their emissions increase it's you know look some folks are going to be buyers of oil assets and some are going to be sellers of oil assets I think that the world has not stopped using oil. So there is a need for oil and even Saudi Aramco is going to be investing billions of dollars to make sure that they continue to produce oil so like So the emissions increase is not what offends me I think what offends me is that they don't actually have a parallel plan that they're discussing publicly around carbon sequestration and storage or hydrogen or industrial heat or like there's lots of areas that require the seventy five, thousand You know people who are really the best and brightest the energy industry has to offer that work at Exxon Mobil that could be doing better things. I mean. Exxon's a big investor for instance and fuel-cell Energy and figuring out how to use a solid oxide fuel cells as sequestration as well as producing fuel cells. Right they're they're doing a lot of really great research, but they haven't actually said that they are going to be scaling up biofuels or or whatever it is that they could be doing. That are the next great engineering challenges to match their increase in emissions. And Paul. Two quick threads on that you know. One it goes back to this in the near term, and this is something that Cova shown us very clearly We're looking at having reduced emissions this year because of pretty dramatic and patterns fine. But nothing structural has changed. So you said, Jagger. We're getting back in our cars. My car is not changed. My Car's still fossil fuel powered. There we are. So until those structural things change, there's room and there's a need in the short term for production for investment and production and the rough rule of thumb when I'm talking to the folks who look at upstream investments in oil and gas at the center Uncle Bungee policies are like, yeah we'll invest now for the next ten years and I'm like Oh, if I think about it that way. Yeah I would invest now in these things because until the structural things change you know, of course, I'm GonNa want to position myself to make some money there the second thing is. When it comes to Exxon Mobil and their plans or at least what we are aware of in their plans, it seems like there may be falling into the trap of thinking of the energy transition as binary steps like here's where we are today, and then we'll be a net at some point but not realizing Kay how I position myself in that transition matters a ton in terms of how successful I'm going to be and the trade offs that are inherent in waiting a bit. At least I don't see them thinking about those parts of the transition.

Exxon Mobil Exxon Duke Energy Duke Bloomberg Chatham House Saudi Aramco Melissa Stephen trump developer executive CEO Chevron Cova
"exxon" Discussed on The Energy Gang

The Energy Gang

07:00 min | 9 months ago

"exxon" Discussed on The Energy Gang

"Fast changing world of energy. Welcome the show I'm Stephen Lacey I'm a contributing editor at GTM. What does it mean when the world's largest generator of wind and solar outpaces the most iconic oil company in market value? We're talking about next Era Energy Exxon. Mobil plus reporters get their hands on documents showing that as other companies ramp down their emissions Exxon Mobil plans to ramp. Is this the planet's most recalcitrant. Company. Then the slow. The emphasis on hydrocarbons will change global political power but do we really know how yet? And last decarbonising heavy industry. A lot of our manufacturing relies on very high heat. Ways to reach those temperatures cleanly and what's going on in the steel market. Sugar Shaw's with me as usual. He's there in Bethesda Maryland high. Hey how are you? I'm doing? Well, are you avoiding the flies? Everyone keeps talking about this fly? From the vice presidential debate I did not watch the debate last night. So it landed on his head my friend. Rina nine and he used to be at CBS. said it depends on where you stand was it pretty fly for a white guy or I don't want no fly. But we got a text from Catherine. This morning saying that the fly has its own podcast so. More competition in the podcast space. Catherine is unfortunately not here with us but joining. US instead coming back to the show is Dr. Melissa Lot Melissa is a senior research scholar at the Columbia Center on global energy. Policy and it is so good to have you back. Hi Melissa. Hey. Guys get to see and Catherine look forward to hearing you when you get back on next week. Did you watch the debate last night? I plan to watch the highlights this morning. No but I, did see the fly the flies on twitter I mean the flies got a whole presence much bigger than mine so. Well The New York Times is a good five and forty two seconds. I think like summary Video got sounds perfect. That sounds like a great length. So. There were two major headlines that caught our attention this week, next era energy, the huge utility holding company that is perhaps the world's largest generator of renewable energy from the wind and Sun has overtaken Exxon Mobil the world's most iconic oil company market capitalisation. That's at least as of this recording next Sarah owns Florida power and light and Gulf power among many other utilities. Exxon Mobil is Exxon Mobil at one. Time the largest publicly held oil and gas company in the world but it has lost half its share value this year meanwhile, Kevin Crowley and upshot really to reporters at Bloomberg News have obtained leaked internal documents from Exxon. Mobil showing it intends to increase carbon emissions seventeen percent by twenty twenty, five at a time when emissions obviously need to be on the steepest possible path down where to preserve our climate pretty brazen. So let's go to the market cap story, which is making the rounds in energy circles. It got a lot of attention jigger. What do you make of this story and framing? Is it a big deal that accompany like next era? SURPASSED EXXON MOBIL IN MARKET CAP Well I. Think it's useful to understand how fast Exxon has fallen. Main Exxon was the world's most valuable company seven years ago. So. Not Seventeen years ago or twenty seven years ago seven years ago it was worth more than Google and apple and Amazon and next era right and I think the way to think about it is that Exxon Mobil and all other companies. Supposedly I have not sure anymore are basically valued at all of their future prophets. You know discounted back at a reasonable discount rate based on the risk of the stock right and when you think about where ExxonMobil's going shareholders basically believe that their future prophets are at risk right that people don't think that they will be able to maintain those prophets over time. And they haven't shown a new growth plan to shareholders whether it's around investments in clean energy or investments in carbon sequestration or whatever it is to convince them that that trajectory will get better and so they were rewarded with a sixty percent drop in market cap and You know an and one that continues to fall. Right? It was only like five six years ago I guess it was run six years ago that ex that Warren Buffett on a Bunch of Exxon Mobil stock, right? Because he thought it was going places. So I think that it's really a tale of two stories right next here on the other hand has less prophets than Exxon Mobil has today to be clear but shareholders believe that their engine that buys wind and solar projects is an engine that actually has real staying power and can originate morsel and when projects every year and make the company bigger and bigger and bigger and now. Of course, they're getting into batteries and lots of other adjacent cities but they believe in the growth of their asset base and their proprietary nature by which they they acquire those assets. Melissa how do you think about the framing of this story because these are companies at very different scales still? Yeah. I mean, these are very different scaled companies Exxon Mobil I think I was trying to find their most recent employee counts and they're looking at seventy five. Thousand Workers, two hundred, sixty plus billion in revenues and fourteen billion in profits. Right next Sarah conversely is about fourteen thousand employees I mean it's a lot smaller, nineteen million revenues and just under four billion and profits. This is what digger was saying. So these are very different scales, but I think it's it's a sign of where things are turning turning more quickly than we might have thought they would or certainly than Exxon Mobil, I assume thought they would. In the in the past few years and I don't think this is an isolated type of situation. I mean, you look at these companies you look at next era, which I would like to pull the threat of is next era renewables company or is that something? Shiny headline but there we go. But when you look at next air and you look at how they're investing and you look at how we're using electricity in the midst of this pandemic but. I get why people are more optimistic about the amount of money to be able to make and also the consistency of being able to make that money. Let's pull that thread right now is next era a renewable energy company. Or Melissa why don't you start since you raised it? I'M GONNA say it real short and sweet next era is not just a renewables company but this whole supplier generation and utilities are still dependent on fossil fuels. Last time I checked that's actually the majority of the business, but maybe my data wrong said Jigger Melissa we need a good headline you click. Thing. and. I love the renewables I love.

Exxon Mobil Exxon Jigger Melissa Catherine Sarah Stephen Lacey Dr. Melissa Lot contributing editor GTM Sugar Shaw Bethesda Maryland Warren Buffett The New York Times Rina
"exxon" Discussed on The Journal.

The Journal.

06:21 min | 9 months ago

"exxon" Discussed on The Journal.

"This episode of the Journal is brought to you by the National Association of Realtors. Here's the truth too many are still being denied access to the futures. We all deserve. That's why the National Association of Realtors is fighting to make fair housing for all a reality. One point four, million realtors are sworn to uphold a code of ethics that sets a higher standard for fairness in housing than federal law because this ad won't end discrimination in real estate people will realtors are members of the National Association of Realtors that's who we are. Welcome back. As Chris was reporting on Exxon he heard about a tense meeting that happened in January an Exxon employees challenged executives about the company's approach on climate. I spoke to a guy named Enrico Rosero who was a an Exxon Geo scientists for years And he in some of his colleagues told me about meeting at Exxon's flagship campus here in Houston and they were talking about, I'm change this dual challenge of providing energy to the world while reducing the risk of climate change. And at the end of it, Enrica stood up and questioned his bosses. On whether Exxon's acknowledgement that the fossil fuels are contributing to climate change was inconsistent with its corporate strategy. He pointed out that Exxon says we have to reduce emissions. But Exxon's emissions are set to increase by twenty percent over the next five years. And he said isn't this a failure of? Leadership. and. Everyone I spoke to at that meeting said it was awkwardly quiet and one of the executive said something like I. Don't hear a question there. That executive was named toto. After that meeting and Riquet said, he was told he needed to improve or he'd be fired. So he voluntarily left the company he thinks he was punished for asking about Exxon. Climate. Strategy. Exxon, declined to comment on Enrica as. A spokesman said, the company encourages open dialogue and doesn't tolerate retaliation. Exxon strategy to lean into fossil fuels based on a few predictions. One is that oil prices will eventually go back up. And the best time to invest is when oil prices are low because when they go hi, we'll have the production in our competitors won't have it and we'll be the ones supplying the market with oil. It also believes that even if some countries start relying more on renewable energy, other countries won't. They do see a lot of the growth in demand for their products in the developing world. And so. Big, bed in some ways is on places like Africa and India and China where you have a middle class coming up and they just they just need energy. They don't have it and they need it and Exxon can give it to them and maybe. You know renewables the infrastructure isn't there to provide So. And their view there's no way that renewables can meet the needs of the world for energy. Oil and gas have a role to play for decades to come, and there's no way around it, and so they WANNA be supplying that oil and gas. So based on their predictions. It doesn't seem like Exxon is going to be changing course anytime soon. They haven't signaled that they're going to back away from trying to grow and gas production. I. Think they still believe that. Once, we get clear of the pandemic and. Economies open back up and things get back to normal while the world's going to need more oil and gas again in Exxon she provided. So I think, the view is Kinda. Let's ride this out. You know let's get to the other side of it, and then we can get on with our growth plans. What would it take for? Oil and gas strategy to succeed in the long term. There's definitely a scenario where Exxon is making a bunch of money this decade. They have said, look the world economy is going to rebound. Renewables are not yet in widespread use. And will need oil and gas and at the same time. Our peers and others are not investing in oil and gas. So the demand will be back, but the supply won't be there and we'll be one of the big companies that is investing in it and so will reap the rewards. And what would be the worst case scenario if you'RE EXXON? If they're wrong and someone figures out a sort of secret sauce to renewables and finds out a way to build it relatively cheaply and quickly and and can get the middle class of the developing world to get on renewables and kind of skip fossil fuels. Well Exxon. would be in big, trouble. In. Very big trouble because. If renewables become more affordable and climate change becomes a bigger issue to consumers there may not be much room left for oil and gas companies that is a possibility. Concerns I hear from investors are. Yes xm could stand to make a bunch of money in sort of the medium term, but the long term that could really be in trouble in twenty thirty years from now, the world may look dramatically different. We may not know what the world looks like, but maybe exit should be hedging his bets maybe it should look at investing in something other Oh boy gas just in case the world looks differently in twenty forty than it does now..

Exxon Exxon Geo National Association of Realto executive Enrica the Journal Enrico Rosero Africa Chris Exxon. Houston Riquet China
"exxon" Discussed on The Journal.

The Journal.

05:58 min | 9 months ago

"exxon" Discussed on The Journal.

"Realtors. That's who we are. Excellent strategy isn't just testing the company financially that focus on oil has been a source of frustration for some of its own employees who are concerned over the company's approach to climate. Change. And over the last few months, Chris has started hearing from them. Folks are reaching out to me and there was a lot of frustration within the company on a range of issues but one of the issues that people were upset about was climate change and there's definitely a contingent of employees within the company. That are frustrated with Exxon's strategy to handle climate change that. Think that Exxon with all of its financial might. Ought to be investing in with these employees would say or more groundbreaking technologies like renewables. To understand how Exxon reached this place of frustrated employees and mounting losses, you have to go back decade. At that time oil prices were really high and the industry was doing well. Exxon's CEO decided to go on a spending spree, buying up lots of new oilfields all over the world some of its competitors were taking a similar approach. But in two thousand, fifteen oil prices plunged an Exxon and its competitors responded to this oil bust with two distinct strategies. You start to see a split between Exxon and some of its peers. A lot of Exxon's peers decide relatively speaking to kind of hold back their investment in fossil fuels. The industry in the last few years has begun thinking about transitioning to renewable energy sources. Particularly, some of Exxon's European competitors have have made some some bold pronouncements and wanting to invest in renewables. What are some of these bold pronouncements that have come from Exxon European competitors? The European companies like BP and Shell and toe tall the big French energy company. They've really sort of accelerated their embrace of renewables recently. BP has totally restructured itself internally so that it's renewable business will be basically on par with oil and gas business and has said it's GonNa Invest Billions of dollars in renewables and is even willing to let its oil and gas production shrink. which is is really pretty incredible. When you think about it I mean doesn't oil and gas companies saying that it's not going to make as much of. Its major product and is going to be doing something else. and. After the pandemic caused oil prices to sink, even further BP accelerated its move toward renewables. So BP had pledged to be net carbon zero by twenty fifty meeting. They would effectively not be emitting any carbon, but they really hadn't said how they were going to do that. And then the pandemic erupts and the world turns upside down and throughout that they were formulating their plan August they laid out the markers about how they were going to get there, and basically what entails is this giant remaking of their entire company they said that they were going to transition from being an oil and gas company to being an energy company. That, they were going to dramatically increase their spending on renewables. While reducing their investment in oil and gas. So they're laying out this plan of fundamentally remaking the company M putting billions of dollars into it. Are companies like BP really going to be able to make the same kind of money on renewable energy. So. There's a lot of questions about the strategy I think BP Shell and others feel like the writing on the wall that this is the way the world is moving in. So we'd better get ahead of it and even if they can't make as much money. On renewables as oil and gas you know it'll be a steady return it'll be something they can count on whereas. The future for oil gas at least in their view may not be so bright. So. Exxon's rivals are in this moment of low oil prices responding by investing in renewable energy. Has Exxon decided to do that to. Exxon has not they have not invested in renewables. They have said they don't see that as something they'll be investing in anytime soon. And they've really double down on oil and gas. In its research arm Exxon is looking at renewables like turning algae into a biofuel but that isn't close to being commercially viable and when it comes to the company's core products, oil and Gas Exxon keeps investing building on those years of buying up new oilfields even after many of those projects came up short so that spending spree is totally backfired. These projects have not panned out have not me nearly the money that Exxon had planned to. But Exxon says, WE'RE GONNA keep spending we're gonNA, keep investing. After the break why Exxon thinks it's strategy will work and the challenges it's facing.

Exxon Gas Exxon BP Chris BP Shell CEO Shell M
"exxon" Discussed on The Journal.

The Journal.

02:10 min | 9 months ago

"exxon" Discussed on The Journal.

"Just, seven years ago Exxon Mobil was riding high. It was the biggest company in the US bigger than corporate giants like Walmart Microsoft even apple, it's on at its peak was this giant sprawling monster of a company they made record profits for years they delivered on oil production for years. Chris Matthews covers the energy industry and he says with Exxon's work in. So many countries in some ways, the company was run like a government. was dealing with heads of state. It had its own foreign policy and was operating in dozens of countries all over the world. This was a giant company that in some ways functioned on on a scale that many companies can only dream of. But since that twenty thirteen peak, a lot has changed. Exxon has lost around sixty percent of its value and three weeks ago it was removed from the Dow Jones. Industrial Average a list of thirty top US companies that Exxon had been on for nearly a century Exxon has gotten so much smaller that it's no longer really represents a huge important segment of the economy. And this year, they are forecast to lose money they had for the first time. This century back to back losses in the last two quarters, which was previously unthinkable for Exxon. What was behind Exxon stunning decline. It's laser focus on fossil fuels. Analysts say while Exxon competitors started to invest more in renewables like wind and solar power Exxon stuck to oil and gas. And despite more than one billion dollars in losses, Exxon is doubling down. Welcome to the Journal, our show about money business power. I'm Caitlyn Ball. It's Tuesday September twenty second..

Exxon Exxon Mobil US Caitlyn Ball Chris Matthews Walmart Dow Jones apple Microsoft
"exxon" Discussed on Business Wars Daily

Business Wars Daily

05:20 min | 10 months ago

"exxon" Discussed on Business Wars Daily

"From wondering, I've David Brown and this is business wars daily on this Wednesday August twenty sixth we'll talk about an exclusive club the only members allowed into the Dow, Jones Industrial? Average. Are The thirty most stalwart icons of the American economy names like Home Depot Microsoft McDonald's Johnson and Johnson Caterpillar Goldman Sachs and until next Monday. Exxon Mobil. That's right. The Dow is throwing Exxon out not long ago such a move would have been unthinkable. The multibillion dollar oil company is the longest standing member of the Dow. It was first listed in October of nineteen. Twenty eight. The. Dow's leaders announced their choice to boot Exxon late, Monday the move is so remarkable that Bloomberg called it a stunning fall from grace for the giant oil company. Is Twenty Thirteen Exxon Mobil was the world's largest publicly traded company according to CNBC. But now in the flash of time that has been the Kobe pandemic traditional oil companies have fallen out of favor as oil revenues and profits. Sink investors are spurning energy businesses. As we've reported here. Recently, Exxon has been foundering as the green economy becomes more and more important to global consumers. Bloomberg reports that exodus is now valued at only one, hundred, eighty, billion dollars A. Drop of forty percent just since New Year's and even more sense it's half a trillion dollar valuation in two thousand seven. You could say Exxon's worth is plunged as deep as one of its offshore drills like whack-a-mole when a company is pushed off the Dow, another one jumps up to replace it. In this case the Dow kicked out three businesses, Exxon? Mobil pharmaceutical company Pfizer and Raytheon. Technologies like Exxon Raytheon is also a dow old timer it was first. Listed in nineteen, thirty, nine, swapping into those slots are salesforce dot COM tech company specializing in customer relationship management. The Dow also added Biotech Company Amgen and industrial conglomerate Honeywell International. This is the Dow's biggest shakeup in seven years, not surprisingly the share prices of the three companies joining the Dow was Tuesday for the three kicked off the island. Well, you guessed it share prices fell. There's a much bigger strategy here than simply reflecting Exxon's ill fortunes the Dow. Index of American blue chip stocks was invented by Charles Dow and ninety four, two years later down his partner Edward Jones surely you know that name publish their first list of a dozen blue chip stocks ever since the Dow has served as a benchmark the standard intended to measure the strength or weakness of the US. Stock Market for that reason, it's leaders sometimes shuffled membership in the Dow to reflect the changing makeup in value of the entire stock market. And for that matter, the entire American economy currently, information technology makes up almost thirty percent of the value of the economy. Tech stocks are the stars next in importance are healthcare companies, which comprise almost fifteen percent of the economy's value. Energy stocks have dropped so low that only two and a half percent of the economy's worth comes from oil and gas today CNBC reports. That's as measured by an index of America's five hundred largest publicly traded companies the S. and P.. Five. Hundred another player made a move this week that started this whole chest came apple last Wednesday apple became the first American company valued more than two trillion dollars not surprisingly its stock price has been skyrocketing got an extra five hundred bucks a share in your pocket to lower that price apple decided to do a four for one stock split when it does. So next Monday it share price will fall to about one hundred, twenty, five dollars its valuation will remain the same. That's getting a little technical. So here's the bottom line. The Dow was waited by share price when apple share price drops the Dow's entire category of information technology will fall as well. That means the Dow's IT Group of stocks won't accurately reflect the. American. Economy which today is powered by Tech Moreover, investors in the Dow already haven't been doing nearly as well as investors in tech heavy index is like the Nasdaq. For the Dow that was a problem waiting to be fixed, which is where salesforce dot com comes in and Exxon goes away. SALESFORCE has grown exponentially since two thousand, nine Bloomberg reports and at twenty one years old. It's practically no geezer among Silicon Valley firms making it just iconic enough for the Dow adding salesforce to the Dow, pushes it back to its proper place in the index at least that's what the Dow's leaders argue the other swaps are intended to help the Dow. Better. Reflect the prominence of healthcare in the economy and the strength of certain industrial stocks. But let's not lose the meaning for Exxon Mobil remember a few weeks ago when we told you Exxon's mammoth British rival BP announced it will make a multibillion dollar investment in green energy is share price rose Exxon however is doubling down on traditional oil exploration despite big losses. So far that's not a winning strategy. Its earnings numbers don't lie and neither does the message that comes from being disinvited by America's oldest.

Exxon Exxon Mobil Charles Dow Exxon Raytheon Bloomberg Mobil apple SALESFORCE Johnson Caterpillar Goldman Sa America Jones Industrial Microsoft McDonald David Brown
"exxon" Discussed on 5-4

5-4

05:08 min | 1 year ago

"exxon" Discussed on 5-4

"Punitive damages can't be higher than the compensatory damages in maritime cases, so Exxon had been ordered to pay about five hundred million dollars as compensation and the five billion dollars was the punitive damages portion. The ninth circuit cut the five billion. Billion in half like we said, and the Supreme Court then reduces it by an additional eighty percent down to five hundred million one tenth of what the original jury found and this outcome, and the rule that punitive damages can't be higher than the compensatory damages. That is completely arbitrary. It's literally just the court saying look that's unfair. It's just too much money. You can't make Exxon pay that. That's it like that's the legal analysis. That's behind this. We talk a lot on this podcast about how selectively the court applies the concept of judicial restraint. Justices will say look. It's not the duty of the court to step in here, but that's just when it suits them. Here, they're making a completely unfiltered judgment. Call that Exxon had to pay too much money in damages for a massive oil spill. Yeah, and then as usual we have some criticism for the liberals in dissent as well and so Stevens in particular he writes this descent and is very focused on like sort of the judicial restraint question, and it's like well. Look, this isn't freely our job, and so he so talks about how like maritime laws like one of the few areas where the Supreme Court. Court actually has to sit as a court in common law and make up the law, but it does in sort of parallel with Congress and that Congress has legislated a lot, and this is really should be statutory Congress has spoken on limiting damages in some cases and the fact that it isn't here. They should respect that and blah. Blah Blah, and it's like well argued completely unpersuaded. Give completely absent from the entire discussion is everything we've talked about the damage that just utter destruction of this wildlife. This habitat, these people's livelihoods, which is like that's the core issue. Nobody's going to really care whether or not. The Supreme Court is overstepping its bounds with people care about is whether this monetary award is ridiculous it is it out of step with reason. Is it something that right? We socially think is inappropriate, and all the arguments about that are about how reckless Exxon was. was in how damaging this spill was. In Stevens has nothing to say about that at all right. Yeah, it's just so fucking week and disconnected. Yeah, it's like I read tower bullshit at its peak out. Yeah, right so it's important to understand that this case fits into a broader political objective spearheaded by Republicans to limit damages in civil cases right to limit damages in lawsuits. And they want that..

Supreme Court Exxon Stevens Congress
"exxon" Discussed on 5-4

5-4

04:40 min | 1 year ago

"exxon" Discussed on 5-4

"Able to its core, Exxon's official position was that punitive damages against them should be no more than twenty five million dollars because it had spent an estimated two billion on the cleanup. But you have to know that they recovered significant portion of the cost of cleanup and litigation through insurance claims. And also in nine, hundred, eighty, nine, a few months, after the accident Exxon sued the State of Alaska, saying that the state had not given Exxon permission to use oil dispersant chemicals in the clean up until a couple of days after this bill, so it was apparently Alaska's fault why the cleanup was bad Alaska's response by the way they said that Exxon didn't need permission. Permission to use the chemicals that are like know why you're asking us and in fact Exxon didn't have enough, and that's why they were blaming the delay on the state of Alaska. Also the chemicals used in the cleanup caused liver, kidney, lung, nervous system and blood disorders among the cleanup crews I. Love My Life I love this case. I love the world we live in. Skip back to the Lai should've needed approval to use those. All right so that was well. It's a lot. I learned a lot about Exxon I will be getting my gas from Gulf only from now. The! Gulf the oil supplier you can. Be Yeah Yeah. You got it. down. You can sign to start bringing in that. Can, sleep easy tonight. There probably owned by Exxon right yeah. It's either them or BP I'm sure, right. All right so the first thing to note about the law here. It's not that important for understanding the case, but it is sort of fun. We're talking about maritime law, which is the law that applies on the water on the on the open ocean, and the reason that maritime law is like the it's a separate thing is mostly a jurisdictional thing like if you're on a ship, you are not necessarily under the jurisdiction of any given states, you need a separate set of laws and rules to govern you, and it's also this sort of historic thing that carries back from these old ancient rules in. The waters around Britain and all that it's just every maritime law case. Even modern ones read like they're from the seventeen. Yes, it's very bizarre. The more important thing to understand about this case is that we're talking about two types of damages. One is compensatory, which are meant to compensate someone for any damage that they actually took the other. The one that's being contested here is punitive damages and those. Those are meant to punish the wrongdoer and deter others from engaging in the same type of conduct. So if you burn someone's house down, Duty Your own recklessness, you could be sued for the the value of the house, but they could also ask for punitive damages. Basically saying you're an asshole and there should be a punishment for being asked so you have to pay this amount of money..

Exxon Alaska Gulf Lai official Britain
"exxon" Discussed on 5-4

5-4

05:56 min | 1 year ago

"exxon" Discussed on 5-4

"The captain first of all was widely reported to have been drinking heavily that night, and he was sleeping off his bender when the ship Struck, the reef the third mate who was at the controls, was fatigued and overworked, and he failed to properly maneuver the vessel now third. I've heard of first mates. That's the right hand guy by the time he gets into third. That's like bring your child to work day. Got Any time, Daddy, what can I do? Enough third. Yup that guy, driving fifty million gallons of oil. Moving to like what the corporation did Exxon Shipping Company, it was determined after the collision had failed for a long time to adequately supervise the captain of the ship, and they also failed to provide arrested and sufficient crew for the ship, the oil industry had also previously promised, but never installed this sort of high-tech iceberg monitoring equipment on the ships, and the company also failed to maintain the collision avoidance radar system on the ship. If that piece of equipment had been functional, it would have indicated to the third mate that a collision was impending, because it would have detected radar reflectors that were placed in the Prince William. Sound for like literally this exact purpose of avoiding such collisions. And their radar system it turns out wasn't even turned on at the time of the collision, because it was fucking broken, and it had been broken for a year. No radar and they're just out there weighing in. Shifting million gallons of oil in the fucking Arctic and they're like. No, no, we can just do this blind. Let me. Let me know if you see any ice. Is What That's how that's how they're doing this. And like documents reveal afterwards that the radar system had been broken for a year, and it's just expensive to maintain and to fix, and so they'd left it fucking broken. This right this accident happened because the Exxon Valdez had left the normal shipping channel to avoid ice flows, and that's like a common occurrence, but it's not what was supposed to happen that night. They're supposed to stay in the channel and just slow down, but of course time is money right and this is about the bottom line, so of course eleven, million gallons of oil is like it's an unbelievable amount of oil spilled, but what made this? Particularly disastrous was Exxon complete, completely incompetent handling of the disaster immediately following the collision so i. I guess something that's widely known in the industry. Is that ships just like Wuxi? Daisy crash all the time and oil spills are like to some degree inevitable, so a responsible party would invest in their cleanup and containment capabilities and equipment. It turns out literally ten months before this disaster at a meeting of the six oil companies that own does oil. A chief of operations warned that it was quote not possible to contain an oil spill in the center of the Prince William Sound. which if you're paying attention is exactly where this happened. Wherever you Prince William? Were you that night. And same chief of operations requested millions of dollars for spill containment equipment..

Exxon Shipping Company Exxon Valdez Prince William Arctic Wuxi
"exxon" Discussed on 5-4

5-4

03:22 min | 1 year ago

"exxon" Discussed on 5-4

"Is that like if you were in law school at the time and you were like Oh yeah like I need to name like the nine justices on the Supreme Court. You're always gonNA forget suitor. Yeah. He's not you're going to be like WHO's that other white guy dumb ass It's not gonNA. Come to you. Yeah I mean I guess nothing else interesting you say about him. He's you know. He was usually on the liberal side, certainly good as far as Republican nominated justices go the. You mostly sucked just like the rest of them. He's dead, right? No! I've no I just retired. Yeah, he'd definitely retired I. thought he also died. Hold on. I'll check no stephen. Stevens died why? No! Stevens was one hundred and fifty. He's alive suitors alive. Still doing stuff like Emiratis. Sir I don't know how to pronounce that would. I think it's emeritus. Is No, but like O'Connor was doing it for a while to I think he still hears cases in the DC circuit now or am I making that up I dunno I mean obviously I. Don't know I thought he was at. He's eighty one. Yeah, he's not that. Retire-. Oh Nine! Yeah, all right so I think we should get into the background here so rian walk us through the Exxon Valdez oil. really excited about this. Because if you thought this podcast was only about human suffering well today we're talking about like oil drenched seawater. Willie's so. Mixing it up a little bit. Right. This case comes out of the famous Exxon Valdez. Oil Spill like Peter said it happened in. March. Nineteen eighty-nine. Win The Exxon Valdez. Oil Tanker ran into a reef in the prince. William Sound off the coast of Alaska like Peter said it's now the second largest oil spill in US waters, but many scientists say that in terms of environmental impact. This is the worst one in history, so how millions of gallons of oil spilled into the ocean is of course about corporate greed, but. But the particular facts and background are important here. I think because like after years of lawsuits investigation, a lot of really good investigative journalism that uncovered a what really happened what led to this disaster? It becomes clear that Exxon's like sheer disdain for the law. They're ducking accountability and their overall unbending commitment to their bottom line, or at the heart of this environmental catastrophe, and the Supreme Court Russia's in here in this case to protect them and buy them. I mean Exxon motherfucking Mobil. Oil Company okay. The court says in this case that they're quote. Worse than negligent, but less than malicious, and I think a quick rundown of the facts that I'm about to tell you like that gives you everything that a kindergartner could use to determine that this corporation absolutely fucking sucks to its core, and they suck on purpose with no regard for the consequences to any species human or not, so their ship was carrying more than fifty million gallons of oil, and about eleven million gallons were spilled into the Prince William Sound, but it's not a freak accident. It was actually highly forseeable. I, there are issues with individual crew members..

Exxon Valdez O'Connor Exxon Stevens Supreme Court Peter Prince William Sound Supreme Court Russia stephen rian Willie William Sound Alaska US
"exxon" Discussed on 5-4

5-4

04:19 min | 1 year ago

"exxon" Discussed on 5-4

"Hey everyone, this is Leon from fiasco slow-burn on today's episode of five to four Peter Reaction Michael Discussing Exxon, shipping the Baker case in which Alaska's residents and businesses and sued for damages after the Exxon Valdez oil spill, it was the worst environmental disaster in United States history, killing more wildlife than any other previous catastrophes. On top of that some sixty thousand Alaskans most involved in fishing say the oil spill hurt their lives and livelihood. The court cut down. Punitive damages owed by Exxon to one tenth Louis originally awarded by the jury and effectively capped damages in similar cases. This is five to four podcast about how much the Supreme Court sucks..

Exxon Exxon Valdez Supreme Court Peter Reaction Michael Leon Alaska United States Baker Louis
"exxon" Discussed on American Scandal

American Scandal

04:29 min | 1 year ago

"exxon" Discussed on American Scandal

"Early on the morning of June, twenty, fifth, two, thousand, eight ricky sits in her kitchen, reading the papers. Spent fourteen years since an anchorage jury awarded the residence of Prince. William Sound five point three billion dollars in punitive damages, and I still haven't received sent. Nine eleven has come and gone. Cell phones and the Internet have become indispensable tools and everyday life. A lot has changed. But Ricky. Hot still lives in Cordova. Alaska she's retired from fishing to devote herself full time to the nonprofit organization that she founded to help with lingering social and economic impact of the spill. At six Oh seven am her phone rings is reporter Euro throws in from Reuters. Have you heard the news? She asked Ricky the Supreme Court has come in with their decision. Ricky braces herself. They lowered the amount, ricky. To Five, hundred, seven and a half million dollars. Ricky is stunned. That's a tenth of the original ward in the rough equivalent of only four days profit for Exxon. If the fishermen see any of the settlement, it will amount to about nine thousand dollars after legal fees. Less than five hundred dollars per season since the whole affair began. After nineteen years of waiting. The Fishman will receive close to nothing. Outside wind and rain lashes at the windows of her house as a summer storm moves in. As if Prince William Sound, itself is reacting to the news. Twenty one thousand gallons of oil from the Exxon. Valdez remain underneath the beaches of Prince. William, sound, still leaching toxins into the water, the herring never returned. Many, fishermen were forced to sell their boats, permits and homes, a loss and leave cordover for a place where they could still support their families. Those that stayed struggle with divorce and alcoholism. Fishing incomes never return to pre nineteen nine levels in the town of Cordova will never be the same again. But some progress has been made with safety. A sophisticated new tanker piloting system requires that two tugboats captain by expert. Local pilots guide every oil tanker through the sound to prevent another disaster like the Exxon Valdez. But change is slow coming. On April Twentieth Two thousand, Ten, an underwater explosion at P p.. Deepwater Horizon, oil rig starts what will become the largest oil spill in history almost twenty times larger than the Exxon Valdez rowing concerns about the environmental threat from that rig disaster in the Gulf. It's already formed a slick measuring hundreds of square miles, and as the oil moves towards the coast. It's threatening marshes, beaches and wildlife enforce states, Brian Todd is two hundred ten million gallons of oil, spew unchecked from an open well on the floor of the Gulf of Mexico for eighty seven days, eventually covering sixty eight thousand square miles of ocean. Three weeks after the news hits the Press Ricky looks out the window of Alaska Airlines flight seven Oh nine. Begins its ascent into New Orleans Louisiana. Below, her Gulf of Mexico stretches to the horizon, and in the distance Pale Green water is blotted out by a reddish brown patch of oil, dwarfs the slipped from the Exxon Valdez. Spill is six times larger than Prince. William Sound itself and BP's fighting this fill with technology that hasn't evolved at all since nineteen eighty nine containment boom, skimmer, boats and dispersants. VP's spraying the Gulf with millions of gallons of core exit. The same disbursement ricky fought to keep out of Prince William Sound Twenty one years ago. As Ricky's plane begins its descent into New Orleans. She takes a deep deep breath. Looks like the Exxon Valdez spill was just round one round. Two of her fight begins today. In Nineteen, seventy, eight, the Boston College Eagles are promising young basketball team, but after members of the Mafia approach, some college players, a few of the athletes begin to believe that they can win i. lose him participate in a lucrative gambling. The plot influences the outcome of games and ultimately sponsored criminal investigation. From laundry. This is American scandal. I! Hope you enjoyed this episode if you did I have to other podcasts you, my American history tellers.

Ricky Prince William Sound Exxon Valdez Exxon Gulf William Sound Cordova Valdez Alaska Reuters basketball Fishman Boston College Eagles New Orleans Louisiana Alaska Airlines
"exxon" Discussed on American Scandal

American Scandal

05:59 min | 1 year ago

"exxon" Discussed on American Scandal

"On September seventeenth, nineteen, ninety-one one month after the worthless pink salmon harvest comes in Ricky returns home to her frame cabin high above Cordova. There's a package waiting for her inside is video cassette bearing the Exxon logo titled Alaska's Gift Of Pink Salmon to the people of the Soviet Union. Rick he pops it in the VCR. Overseas, a fisherman pulling that's full of salmon from Prince William Sound a narrator proclaims this week. The people of Alaska made a historic gift to the people of the Soviet. Union a gift. The Exxon Corporation helped make possible. It turns out Exxon paid canneries in the state millions of dollars to process three million pounds of the low quality, Pink Salmon, and then they donated it to poor people in the Soviet Union. What the narrator calls a victory for democracy. The video cuts to an interview with stocky crew cut bull of a man. Alaska's newly elected Governor Wally Hickel. Pickle smiles wide as he speaks. He couldn't be happier to be working with Exxon on the important endeavor. This is Hickel second time an office he came out of nowhere on third party ticket and stormed into the governor seat on a pro business, pro development platform, a former boxer and construction worker. He's blunt and plainspoken. He pushed hard to build a Trans Alaskan oil pipeline in his first term, and now that he's been elected again. He wants to build a new eight hundred mile natural gas pipeline to run alongside it. You can't just let nature one wild. He's of saying a tree. Tree doesn't really do anything. He doesn't have any time for environmentalists or their complaints about his plans, and he certainly doesn't have any time to cry about malformed. Pink Salmon Harvests in Prince William Sound. The final scene of the video shows plane taking off a Russia loaded with pallets of canned. Salmon The narrator proclaims from an environmental standpoint. The record return of Pink Salmon to Prince William Sound shows recovery from the oil. Spill is virtually complete. Ricky shuts off the TV. She can't take anymore. This tape was sent to thousands of homes across Alaska to convince the public that Prince William. Sound is doing fine, and now the state of Alaska endorsing the message to. And Governor. Hickel's not done yet. Two weeks later. He announces a plea bargain between the state of Alaska. The federal government and Exxon the deal settles all State and federal lawsuit stemming from the nineteen thousand nine oil spill. Exxon will pay a fine of one hundred twenty five million dollars and ninety million dollars a year for ten years into a fund that will support the restoration of Prince William Sound. It might sound like a lot, but it's not ex. Official tells reporters, we're talking about spreading a bill out over ten years. It's not going to curtail any of our plans and to the tens of thousands of fishermen who are no longer working. The settlement does nothing to ease their financial pain. By the time that money trickles down to them. They're looking at maybe thousand dollars a person. Even worse, what the governor wants to do with that settlement money he wants to build a road to Cordova, and stripped logged the force that line the sound. It's time to move on from the spill. The Governor says. But for the fishermen moving on is not that easy. By nineteen ninety two, the herring fishery has collapsed completely reports of domestic abuse or off the local mental health clinic swamped. The townspeople are in debt with few options of making ends meet. Then community leader Bobby van. Brooklyn kills himself. Balmy was beloved. He was mayor when the Valdez ranch around. In his suicide note, he says the stress of dealing with Exxon. The financial pressure were more than he could bear. A year later in nineteen, ninety-three, when eighty percent of the fish population has not returned, the fishermen of Alaska reached their breaking point. Enough is enough. The fishermen decide it's time to take stand. It's time to blockade the pipeline that provides America with twenty five percent of its oil. For three days in August nineteen, ninety-three, the entire country's attention is on Prince. William Sound once again. The first two days of the Fishermen's blockade Strand, seven empty oil tankers in the Gulf of Alaska. By. Day Three. The situation is growing more and more tents. AGLIETTA's oil storage units at the pipeline terminal are almost full. If the fishermen don't allow those waiting tankers through soon, there will be nowhere left to put the oil. The eight hundred mile pipeline will have to shut down completely. That will cost the oil companies millions. It'll deprive the state of Alaska. The oil taxes that fund it's government's operating budget, and it'll hit consumers across the country when gas prices spike with twenty five percent less oil available nationwide. Nobody from the Alaska governor's mansion to the White House wants that pipeline shut down. And that's why Rick Steiner is not out on the water with the other fishermen today. He's fifteen miles away in the lobby of the Valdez West Mark Hotel. Rick follows a state official up a flight of stairs and down along carpeted hallway. He's here to meet with Secretary of the Interior. Bruce Babbitt sent a Valdez by President Clinton to try to resolve the standoff. Abbott sits waiting for Rick at a table in the corner of a dark sweet. He's got close cropped white hair tire bags under his eyes. As Rick sits down. Babbitt leans forward telling. Ricky's got proposal and wants a quick yes, or no answer. He says that DP and pressure Exxon to talk to listen to what Rick has to say. White. House is prepared to put heat on them to. Babbitt reveals. He's also got governor Hickel's word that he'll use some money from the restoration fund to research. What's happening to the fish the sound? then. Bab Pauses looking at Rick. This is the best offer you're going to get. Yes.

Alaska Exxon Prince William Sound Rick Steiner Governor Wally Hickel Exxon Corporation Ricky Cordova Soviet Union governor Hickel Gulf of Alaska Bruce Babbitt William Sound Prince William official Russia
"exxon" Discussed on American Scandal

American Scandal

04:38 min | 1 year ago

"exxon" Discussed on American Scandal

"One thousand nine hundred five four years before the grounding of the Exxon Valdez in Prince William Sound Captain Jonathan Hazelwood stance in the wheelhouse of the Exxon tanker Chester. His ship is carrying twenty seven thousand tonnes of asphalt from New York to South Carolina and. Easy run one. He's made many times before but today as he looks toward the southern horizon he sees dark skies ahead storm moving in fast and a big one within minutes thirty foot. Waves sweep across the deck a screaming sheer of wind. Rips the antenna off the tankers wheelhouse killing radar and the ship's radio in one fell swoop. Then the entire ship goes dark electrical systems. Dead Hazelwood's cut off from the outside world. Stand at the helm of a forty five thousand ton steel coffin tossing and heaving and the storm crew members panic. Pull on life vests and prepared to jump overboard. The first mate burst into the WHEELHOUSE. All systems are down captain. We need to get everybody off this ship now abandoned ship. We're not going anywhere captain. Hazelwood KNOWS JUMPING INTO. These waters is suicide. Their only chance of survival is to save the ship. Hazelwood's been out on the sea. Since he was a kid he's always had a knack for knowing what to do in tough situations on the water as a team. He wants got caught in a storm. Just like this one on board a sixty five foot schooner on long island sound while the other kids on deck started vomiting and crying. His would calmly climbed the ships. Fifty foot tall mast to haul in the main sail alone in gale force. Winds Hazelwood's been here before so now onboard the Exxon tanker Chester with the lives of his crew on the line. Hazelwood stays calm again. He rigs up a makeshift radio. Antenna then guides his wounded tanker through the storm. Back to New York for repairs. It's a feat. That will make him a legend among men and women who crew acts on ships and it will make his bosses at. Exxon furious as soon as he reaches port. He's called into the corporate office. Where an executive immediately lays into. Why'd you turn back? You're supposed to be making a delivery in South Carolina today with all due respect sir. You're lucky you didn't lose a ship. Entirely not to mention the cargo and the crew executives is narrow. Losing the cargo is not an option your pay to deliver the product on time. No matter what all his life. Hazelwood wanted adventure. You wanted to be out at sea going places and calling all the shots along the way. Exxon gave him the chance to do that when they made him. The youngest captain in their fleet in one thousand nine hundred ninety nine. But as soon as he put his captain's uniform on for them he felt hemmed-in in micromanaged by a bottom line by bureaucracy by men and women like this exact people who sit behind desks all day and have no idea what it's like to face a freak storm that forces a choice between profit and survival but Hazelwood's got a wife and a daughter little house on Long Island. He'd like to hang onto so he sucked it. Up keeps running asphalt and oil on time and in order he dots his eyes and crosses his teeth and he yes sirs the folks up at the corporate office and he drinks heavily for Hazelwood. Alcohol is the only way to ease the tension between the job. He always wanted the one he's got. Alcohol makes it possible to Kerryon until the Dark Alaskan night of March twenty third nineteen eighty nine American scandal sponsored by Madison Reed? You know that song that goes. I see your true colors shining through well looking at your hair. That song might be taking on a new meaning. But don't panic if you need to get your roots in order or make that big or subtle change. You've been planning. You don't need to go to a fancy salon. You don't need to fret about messing it up at home and you don't need to worry about harsh chemicals or odors because Madison Reed is reinventing home. Hair-color its hair color. You can feel good about infused with Argon. Oil Carrington and Ginseng not ammonia parabens or goods. And it's delivered right to your door. Take their online colored quiz or chat with color specialist to find your new rich multifaceted shimmering shade crafted in Italy easy to use anytime get ammonia free multidimensional hair-color delivered to your starting at just twenty two dollars at Madison Dash Reed Dot Com use. Promo Code A S and you'll get ten percent off plus free shipping on your first color kit. Visit Madison Dash Reed Dot Com. Promo code a s now to find your perfect shade. That's Madison Dash Reed Dot COM.

Jonathan Hazelwood Exxon Madison Dash Reed Dot Com Madison Reed Exxon Valdez Hazelwood South Carolina New York Long Island executive Italy Prince William Sound
"exxon" Discussed on American Scandal

American Scandal

06:41 min | 1 year ago

"exxon" Discussed on American Scandal

"On Tuesday evening March. Twenty Eighth Rick. Steiner sits alone in an empty courtroom in the state office building inbound. Bounties the mosquito fleet is still out on the sound collecting buckets of Oil. But he agreed to stay behind to act as liaison between the fishermen and Exxon and since the state couldn't find a proper office for Rick and Valdez. This courtroom is his new headquarters at six. Pm A call comes in over the CB radio with news from the fleet. The first hatchery is protected. Sealed off from the spill by offensive boom through the fuzz static. He hears cheers and shouts. But Rick doesn't feel elated. Exxon might have appeared receptive to the fishermen last night but today has been a different story. Rick is in charge of obtaining additional equipment for the mosquito fleet. Only one hatchery is safe. And there are two more to go after that. Hundreds of streams spawning areas need to be fenced off. And they're going to need a lot more than buckets and a few yards of Exxon's flimsy pond boom to do it. They need ocean boom more skimmers. More people out on the water. They also need more cold weather gear and food now place to wash the oil off their votes themselves but so far he's had little lock insecure. In any of it all day rix calls Exxon have been redirected shuttled back and forth through. Its sprawling bureaucracy. One person tells him a section of boom was on. Its way then. Another person says it's still days out. Someone else assures him protective gear is on route. Another says that the request was never received. Meanwhile the fishermen are still at with nothing but the buckets and closed they brought from home is starting to dawn on Rick that Frank. Irs's million dollar business card wasn't a gift. He was bait and the fishermen took it hook line and sinker down in the jury. Box looks around the empty courtroom and thanks God. Someday I hope to see these oil guys sitting behind that defense table over there and the day is coming but it still years away. As the last of the mosquito fleet is pulling into Cordova Harbor. Ricky ought and Jack Lamb pushing their way into the High School Gymnasium for a town meeting. Both fishermen stayed behind to make this event and when they arrive. The GYM is already packed. With over two thousand people fishermen and their families many of them are warning ragged bundled in Parkas. Some just back in from fighting the spill all day. They're exhausted they're furious and they're ready to air their grievances to Exxon. They've been told the company sending someone to talk to them with. The fishermen still aren't sure who it is. It won't be Frank Rossy after four days of battles with journalists and fishermen alike. Exxon has realized. Frank isn't the leader. They need facing the public right now. Frank is an engineer. He's a detail guy and he's exhausted by the daily grind of press conference after press conference. Exxon need someone who's up to the fight. Each night television viewers are watching the spill spread in the cleanup falter. Now people are throwing rocks through Exxon filling station windows. They're calling in death. Threats to Exxon corporate offices stock is down and their profits are starting to take a hit. Some consumers are even beginning to boycott their gas. Exxon needs a new general to marshal their forces to turn this. Pr War around. And they pick the helmet haired Kentucky in Don Cornet Exxon's head of Alaska Operations Don Smooth. He's confident and he's fearless. While frank might have been exhausted by daily sparring sessions with the press on. Find some invigorating. Now he's ready to take the fight to Cordova and the fishermen who haven't been doing Exxon any favors the press that morning. The Alaska Emergency Center records a call between dawn and fellow executive. Don says you know how I feel. Do you remember patent got out over that battlefield and said God help me? When they were going to invade Europe. He said God wouldn't let this happen to not let me be in on it. That's how I feel now. Cornet staring down a battalion of raging fisherman on their home turf. He's ready to reel them in. He stands in front of the crowd smiling and a short sleeve shirt skin gently tanned as if he's warmed by the hot Houston son everywhere. He goes his goal. Watch glints under the gymnasium lights. You had some good luck and you don't realize Exxon and we do business straight. We will consider whatever it takes to keep you whole. What have you lost at this point that I can compensate you for? But if you're midst don't fill up that we can take care of if you can show your motel. Goes out of business that we didn't can take a fisherman stands and asked if it's GonNa take twenty years to get these claims settle don answers with a smile into you. We have never had claimed. Go twenty years. They answer questions note and he's right it won't it's going to take nineteen years three months and one day but the fishermen don't know that yet right now all they know is they could really use some money. The town of Cordova staring down the prospect of nearly one hundred percent unemployment revenues down to zero overnight mass bankruptcies and here's a guy with access to billions of dollars saying he's going to make them whole the fishermen may be furious at Exxon but they're listening the next day. A newsflash takes the media spotlight office bill and put it on. Joseph Hazelwood the captain of the Exxon Valdez. The Anchorage Daily News reports. Captain Hazelwood has a record of three. Alcohol rests his driver's license is suspended according to his home. State of New York. Hazelwood shouldn't be trusted behind the wheel of a Corolla. Let alone thousand foot. Supertanker Governor Steve Cooper tells the paper that the state of Alaska is beginning a criminal investigation immediately. Reporters have been digging into the captain's history and they've hit pay dirt now. The facts burst out into the open for everyone. To See. The press is going all Hazelwood all the time. That is good news for Exxon. The country is still mad at the company. Sure when it's hard to be mad at a corporation it's too abstract to defuse. It's much better to have an actual person to pin this whole thing on and now the press finally found their guy except that they can't actually find Joseph Hazelwood. He's disappeared.

Exxon Don Cornet Exxon Frank Rossy Rick Exxon Valdez Captain Hazelwood Alaska Steiner Cordova Harbor Anchorage Daily News Cordova Steve Cooper Europe Parkas Don Valdez Houston Irs High School Gymnasium
"exxon" Discussed on Climate 2020

Climate 2020

04:58 min | 1 year ago

"exxon" Discussed on Climate 2020

"I said to him I said Look John You what you just got a call from the White House I'm Donald Trump and what I say to you John Is it okay for me to see a climate change is a hoax perpetrated by the way he tried to not answer that question more carbon dioxide the temperature gets warmer and it seems to open question not essential question John Open questions to settle the question out all of this with the global warming and that the politicians have gotten away with not doing anything work is about climate change a great environmental crisis our house is on fire they get away with it any longer Ah Hi welcome to climb at twenty twenty podcast about climate change and the twenty twenty election I'm David Gilbert founder and chairman of the commit media company the Years Project and I'm Jeff Nesbitt I founded climate nexus climate communications group. You know I'm really excited this week because Jeff you it'd be speaking with Washington Governor Jay Inslee and I'll be talking to one of Donald Trump's you heard right when Donald Trump's lead pollsters still amazed that that that you pulled that off that he any sat here and he talked client with you I mean I that's amazing and then joined joined hands in Saint combat again there but first let's let's bring our audience up to date on what's been happening this week with climate in politics so Exxon Mobil is going to trial they're up against this the the attorney general in the state of New York and the attorney general what what what she's alleged in her complaint is that Exxon kept two sets of books one does the real cost of climate change and another one that downplayed that cost is is the hope here that that somehow this trial is going to make these fossil fuel companies address is the real cost of climate change while I think this is one of the reasons why everybody is paying such close attention to this trial go back in time and you look at the tobacco award in the litigation strategies against the tobacco industry and by the way can I just say many of the same attorneys representing the oil and gas industry used to represent I represent the tobacco industry so they know this coincidence so they know this issue quite well and so there are a couple of things going on your one is the goverry process though the the state attorney general as well as other agee's like more helium in Massachusetts are looking at unearthing document it's that can explain you know a quarter century of how these these the industry has dealt with with this issue we actually spoke to a reporter covering the ex- on trial for the drilled podcast which is an investigative podcast about fossil fuel companies in climate change hosted by Amy Western south and we're planning on getting aiming on climate twenty twenty very soon to talk to us about the twenty twenty election and we ask drilled reporter Emily Gertz to update us on the trial thanks David thanks jeff and I'd like to pick up on what you said there about two books New York has a very strong law for prosecuting security fraud and that's what it's accused Exxon of in this trial New York says that Exxon used one figure a high dollar amount in public for assessing the future costs of climate regulations on its business internally though it you used a lower number and that had the effect of making the company look more valuable to investors than it really was when this became clear in public the stock price took a huge tumble and investors lost collectively hundreds of millions of dollars the state wants the the judge to find Exxon guilty of fraud enter compensate its investors for the money they lost an Exxon needless to say denies we're going to keep you updated on this excellent trial meantime one right in the news the the weather channel is going to be holding a the climate discussion with candidates but two candidates so far a will not be appearing at one of them is Donald Trump surprisingly and the other is is Joe Biden that surprised me talks a little bit about this in our interview with him for this week's podcast the environment and climate issue is the weakest vote for president trump in his reelection so the Democratic nominee whoever that is is almost certainly going.

Donald Trump John Jeff Nesbitt White House Governor Jay Inslee founder and chairman David Gilbert Washington twenty twenty
"exxon" Discussed on American Scandal

American Scandal

08:20 min | 2 years ago

"exxon" Discussed on American Scandal

"Folks. American scandal is sponsored by Madison Reed feeling a little incognito. Like, you're not portraying yourself as you really are. Maybe you're looking for a change something to make you feel a bit more like yourself, maybe save some money at the same time. Something to reinvent. How you color your hair gorgeous salon-quality colored delivered to your door for less than twenty five dollars from Madison read, these are modern times, you're not stuck with just the old two choices outdated at home hair-color or the time and expense of salon. Neither of those options you need to settle for Madison Reed clients love their new color, gorgeous, shiny multidimensional, healthy looking hair this gray covering game changing color, you can do at home and look as if you just came from the salon. What makes Madison Reed color unique is that it's crafted my master colorist who blend nuances of light dark, cool and warm to create forty five gorgeous, multi. Tonal shades. Find your perfect shade at Madison dash re dot com. American scandal. Listeners can get ten percent off plus free shipping on their first color kit with code AS. That's Madison dash re dot com. Promo code a s. That was my conversation with university of Alaska marine conservation. Professor Rick Steiner, he helped coordinate the response efforts to the Exxon Valdez spill in nineteen nine. My next guest. Is Antonio you hus-, she's an oil analyst journalist, author her most recent book is black tied the devastating impact of the Gulf oil. Spill Antonio spoke to me from studio cake, Yui D, And San Francisco Antonio, you Haass, welcome to our show. Thank you so much for having me. It was thirty years ago this year that the Exxon Valdez spilled eleven million gallons of oil into the Prince William Sound, the most recent in public memory spill of that magnitude was Deepwater Horizon. They are similar obviously in some ways that petroleum hit water. But they are different was a tanker spill and was an oil rig explosion. But I was wondering as you've covered both do you think of them as related? Yeah. Deeply related in in many ways. I think what is similar about these oil spills. I actually wrote a sentence in my book tyranny of oil about the Exxon Valdez disaster. And I said that one of the reasons was Exxon's failure to adequately prepare for a spill that was not only likely but probable, I could've written the identical sentence about BP in two thousand ten what makes these disasters show similar is that they were not only predictable. They were predicted the companies were warned for years preceding them that the risks that were involved the dangers what could lead to the disasters. And then what was necessary to adequately address the failures in the cleanup and the spills after they happened. And in both cases, neither company I'm heeded those warnings nor did any of. Their fellow companies and predicted disaster happened, and that is a tragic outcome, particularly because so many lessons were learned in the wake of Valdez that should have warned regulators that they needed to keep a much tighter tighter wrap on oil companies operating in our waters, be tankers or drilling for oil and exploration or production than was the case. And that is one of the reasons why the BP disaster happened in in both cases, the companies were cutting corners, cutting costs, basically playing a very very risky game with our environment with the safety of workers, and the safety of people who live around those areas and fish from those waters and all those. People and those environments lost out because of a risky game that the company's played I'm trying to put on my Exxon or BP hat for a moment. It is obviously a risky game. These spills are not only economic and environmental disasters, but their PR nightmares. Of course. And they're going to get revisited every five ten twenty five thirty years. What is it that makes a company as large and capable as these penny wise and pound foolish. Why cut corners? Yeah. I mean that was almost literally the judgment of Barbie. A who ruled in the case against BP where he found the company grossly negligent and said that they were putting profits at saving time and saving money over people and the environment. And that is exactly the same words. Also could have been could have been said in the case against Exxon. The reason why they do it is because the cost don't outweigh the benefits. So. So they in the case of Exon Exon was incredibly successful at shielding itself from economic harm as a result of the Valdez disaster there their total costs from their federal government settlement as well as their cleanup costs was just three point four billion dollars and a class action lawsuit. That was brought against the company by the people of Alaska fisherfolk who were impacted and originally they were awarded a five billion dollars in punitive damages which was the equivalent of one year's profit for Exxon at that at that time. Exxon argued the case for nineteen years, and they brought that court judgment against him down to five hundred million from five billion and twenty years later. So they ended up paying very little for what were the costs that continue to stay. So fishing is still impacted in Valdez to this day Auriol still seeps up on beaches to this day, and many people are still sick or have died from the impacts of pollution. So for them. There wasn't a significant cost. But there was a number of lessons that were learned as a result of the Valdez disaster that affected policies. So this was a very public disaster. As you say there were, you know, these incredibly stirring, photographs, and it may have been the first really well photographed oil spill in in world history. And I think that was very moving for the public, and it did lead to significant policy change, the most important policy changed than impacted the BP Deepwater Horizon disaster was passage in nineteen. Ninety under the first President Bush of the Oil Pollution Act, and that was an attempt to to learn a lot of the lessons of the failures that happen with the Valdez, and that put the federal government in a in a much more oversight role in driving role than it had been in after the oil spill with Valdez where everything was really just left up to Exxon, and there was very little oversight by the federal government. The Oil Pollution Act really changed the law to make it. So that BP was forced to almost essentially put everything back the way it was before the disaster. Or if it couldn't pay for what was lost. They had to pay a significant fines under the clean water act. They had to alert the public. They had to pay communities that were impacted at the time for losses. They were suffering at the time. And there was just a whole host of requirements placed on them that were not there at the time avow dis and that were there because. Of legislation

Exxon Exxon Valdez BP Valdez Madison Reed Madison university of Alaska Antonio Deepwater Horizon Alaska Rick Steiner