26 Burst results for "Exxon Chevron"
Stansberry Investor Hour
"exxon chevron" Discussed on Stansberry Investor Hour
"Me the shareholder in a very civilized fashion. Nice. Do you care to throw a name at us or no? Well, you know, for most people, I think you keep it pretty simple. I mean, I have some gaming names that I could give you. But I don't think I have to. I think if you look at Exxon, ExxonMobil, not a bad choice, if you look at the Buffett portfolio, he's actually willing to take a little bit more risk in things like Occidental Petroleum. I see Occidental Petroleum is being fully priced myself, but I do see them with his encouragement, spending enough money on development drilling, primarily in the Permian Basin to maintain the very high returns on capital employed that he has been enjoying. I see two that he has, like myself, been investing in Chevron for a different reason there, mostly because of constrained U.S. refining and marketing investments. We haven't built a grassroots Greenfield refinery in the United States. I believe since 1976, it's fairly easy to point out that the population and the GDP of the United States has increased somewhat since 1976. So this constrained capacity gives Chevron pardon me oligopolistic returns in an integrated oil and gas business. So for most U.S. investors, I think that the macro theme, the beta opportunity is large enough in the 5 to 7 year time frame that you could probably construct yourself a portfolio around Exxon Chevron and Occidental. And come out of life very, very, very happy. As you know, Dan, I like complex political risk.
CNBC's Fast Money
"exxon chevron" Discussed on CNBC's Fast Money
"Back to fast money oil staging a big reversal today closing higher after hitting its lowest levels of the year earlier in the day. Rumors of potential OPEC plus production cut, helping erase early losses, energy stocks, meantime, closing largely in the red Exxon Chevron, Conoco, all ending the day lower. So what's behind this divergence? A guy? Yeah, we've talked about it for a while. I know Jeff is going to speak to it. I think the biggest part of it is crude can sort of go sideways to slightly lower in this environment. The fact that so many of these companies are so much better run and they're balance sheets are so much more pristine than they've been historically. The irony, of course, is ESG and the Biden administration. It's probably the best thing that ever happened to these energy stocks. So I think the disconnect is there. Now, at a certain point of crude continues to go lower, it's going to have an effect, but right now, at least it still seems to be in a bit of a sweet spot. Yeah, Jeff, you were talking about this on our conference call earlier today. Yeah, I know we just had the chart up. And I think it's super interesting. If you look prior to the shale revolution, the correlation between energy stocks and oil was pretty low. And then all of a sudden post shale profitability took a backseat for a lot of these companies. They were focused on production growth and they became highly correlated with the commodity. And to guys point, I think you've seen a reversal of that. That correlation is sort of back down to those pre shale boom levels. And I think it absolutely has to do with the capital discipline. These companies being less impacted by the commodity. And you see it now. You know, the energy sector relative to the S&P is still holding up relatively well. Exxon Chevron holding key levels. So even though you've seen some volatility recently, even though the commodity has been bouncing around, I still think the stocks are reasonably good place to be. Yeah, I don't. And I think that spread is going to resolve itself by maybe crude going lower to sustain put and the energy stocks are coming across on his call. I missed his call. But I will tell you that I think that a lot of I think it's a very crowded trade. And I think technically it's had a tough spot and I just think that we're likely to see some people kind of find different places to put their money in 2023. Coming up, Yahoo's 30 year deal and
Bloomberg Radio New York
"exxon chevron" Discussed on Bloomberg Radio New York
"Please should be does have to remind itself and remind markets I should say that it's primary ethos is to control inflation. We don't think that these people will reach a restrictive territory before the start of 2023. The global economy is not getting very soft at the moment. Inflation will probably be staying sticky and hard and companies will pass some of that through. There is lower inflation in the pipeline, but it's not in the headline figures yet, and I don't think the fed is prepared to blink. This is Bloomberg surveillance with Tom Keene, Jonathan farrow, and Lisa Abramovich. Good morning, everyone. Jonathan Farrah, Lisa Bradley and Sam king. We welcome you on a Friday on radio on television. We welcome you to double digit inflation. No, not food inflation in the United States. John farrow, Germany joins Italy. This is ugly. 11 handle for CPI in Germany year over year, 11.6% on CPI. And we've got a big turn of events in this bond market too. Yesterday, major rally, yields lower today, big sell off your tap at the front end of the curve Tom in Germany, the two year up 17 basis points. My problem with this is really, really smart people thinking really, really hard, are undershooting the trend everywhere and you wonder if that's going to be in the United States as well. We said it a few times. We keep talking about peak inflation time. If it's in our past in America, is it still in our future in Europe? Because that inflation number is getting worse, have this conversation yesterday about the ECB, having some kind of step down. Let's talk about how difficult it is for this European Central Bank this week. 75 basis point hike, CPI in Germany with an 11 handle and Lisa PMIs in the 40s. That is the central bankers dilemma. Downside risk the growth upside risk to inflation, what on earth do you do with interest rates? Especially at a time when you did not get the worst case scenario come to fruition or whether it has been somewhat mild, you haven't seen those stockpiles of natural gas come down as much as they had feared and still inflation is coming in harder than people expected, even with lower prices, you wonder, Tom, how this is going to play out. Considering that the ECB is going to try to crack down and we do have a lag. Bring it over to the United States, John two days, Halloween. I'm going as a swap line on Tuesday, November 1. ISM manufacturing survey is 50.0 and a 49 handle there again as that tendency. We'll say if we start to get that downturn in America, Tom, you saw that subtle hints of that in the GDP report. Yesterday, many people did. Well, okay, I take the point here that again, Chris Lowe was outstanding on this of a really fragile GDP report, but here this morning, bringing it over to earnings, forget about Twitter and all that theater. There's some good earnings out there, but everyone focused on big tech dealing with inflammation, dealing with the dynamics of dollars. With a focused on big tech because that's where the waiting is. That's where the power is, the big weightings in a market cap weighted S&P 500. You look how swear our energy Exxon Chevron, crushing it through the air and today on the quarter Tom. Great numbers. What are we here from President Biden, Lisa today? You've talked to Ann Marie and others here. I mean, does the administration get out front here and full election panic? Well, they probably will. They're probably say that this is going to really get their investments up that it isn't as significant as it could be. But what's the actually going to do given that we have two weeks? Two weeks, so the election. And it's not clear what they can do. David costan was a serious in a moment. Let's get through the data John very quickly. I'm going to do yen quickly here backs up off BOJ one 47 51 rounded up one 48. Where is that statistics Sunday? 7 p.m.. Did you just say bad axon as if X was a dog's name? Yeah, Exxon. The president's hospital. That total. Is that what the president's going to do? Bad exercise. Just stop it. Of the election, they're going to get crushed in Washington because they're going to go up there. They're going to be there, you know, I promise to sell the truth the whole truth. And they're going to go project your project. You're going to get a costume before it runs away. You do the data again before costumes waiting for a day. And it's already futures it down by about 5 tenths of 1%. The bond market yields are higher by 9 basis points. The higher in Europe, that CPI print from Germany's ugly. David Carson Goldman Sachs joins us this morning. David, can you explain to me how your world has changed from when I studied three to 4% FX adjustment on equities and all of a sudden we're doing dollar adjustment of 6%, 8% and the CFO of Apple said near 10% yesterday. How does your world change with strong dollar? Well, the way the world changes from a fundamental point here in the United States is that 70% of the revenues of U.S. companies are actually generated domestically. So therefore, the sensitivity of companies from a corporate point of view is largely going to be focused in the technology sector where almost 60% of their sales are overseas. So from that point of view, Tom, the translation back is really going to be focused in certain areas as opposed to broadly across the market. When you look at the sales of healthcare companies, utilities and the telecom companies, even financials, largely domestic in nature, and therefore it's less sensitive than maybe is widely perceived. But it is definitely a concern and a focus on some of the global multinationals tech in particular. I'll tell you, let's talk about buybacks. This came from market insider yesterday. Listen to these numbers, meta spent 45 billion on buybacks last year, paying about three 30 a share on average meta yesterday close with a 97 handle. David cost him what on earth is going to happen with corporate buybacks in the year to come. And just walk us through because I know you and the team at Goldman do so much work on this. The importance of buybacks as a feature of demand in this equity market. So Jonathan critical point is the fact that over the last ten years, every year, the single biggest source of demand for U.S. shares has been corporate repurchases. So question here is this year there'll be up around 5% versus a year ago. And our forecast next year is they'll probably decline by about 10%. So 10% less buybacks in 2023 than this year, that's assuming a soft landing. Jonathan, if you had a recession scenario that's probably down 40%. That is, again, a very significant development in the terms of the confidence the CEOs have in the outlook for business activity in the coming year. That does drive some of their decisions on their capital spending. I've spoken with some boards this week as they think about their uses of cash in the coming 12 months. The idea of how important capital spending is, relative to research and development dollars, how do they think about the prioritization of merger and acquisition spending, but buybacks has been the default use of cash for a lot of companies. And that is likely to be receding as we look into calendar 2023 and that again has been the single biggest support function for equity prices in the last ten years. David, just to sort of underline this point, how much do you expect this to pull back in terms of how much stocks can gain? Just simply because this massive buyer will not be there. Well, it's a big issue. We think about flow of funds if you want to think about it in that context. The idea of pension funds is countercyclical buyers would be one area of source of demand, partially
WCPT 820
"exxon chevron" Discussed on WCPT 820
"20 dot com to learn more. This is a W CPT a 20 heartland signal news minute. The House committee on oversight and reform held a hearing recently to quote examine the adequacy of climate pledges made by Exxon Chevron, BP and Shell. Ahead of the hearing, the committee released a memo with an update on its investigation, which asserts that big oil relies on accounting gimmicks, tricky language and delay tactics to claim the mantle of climate leadership while continuing to be a primary cause of an ongoing climate catastrophe. And they are getting rich, selling the fossil fuels that are causing the problem. That's committee chair, Carolyn maloney, who then turned a hearing witness doctor Isabella Weber. Do you agree that big oil is benefiting from our continued dependence on oil and gas? I do agree with that sentiment. I think we have seen in the present crisis that profits are the ultimate and only goal of big oil corporations. For W CPT a 20 in heartland signal, I'm Andy miles. Driving it home with patty basket. 5 to 6 p.m. by T 8 20. Celebration of quiet somber. Yes. Thank you. If you tuned in for some kind of immature celebration of Donald Trump's ill fortune, you've come to the wrong place. We have somber, there will be somber, thoughtful, legal analysis. Is this the part we play Betty booth? Oh, yeah, I forgot to ask for Betty boop. Oh, so with this, but do we have any boo do in the new year? Oh my God, the colon blow of justice yesterday. And Sean mccomiskey is back. Well, yeah. Wow. Well, unless you never come back because as you've been want to do in the past,
Bloomberg Radio New York
"exxon chevron" Discussed on Bloomberg Radio New York
"On Bloomberg radio. $500 per token for the asset that never sleeps, let's get some more color on the pre market equity trading with Bloomberg markets correspondent. Pretty good. Pretty what do you got? We got to talk about these tech earnings polls. Sure. It's enormous. Yes. Amazon, AMC, and your ticker. It is up ten and a half percent. I have to say, it was up as much as 12% so wait. Who's up ten and a half percent? Amazon. Wow. In the pre market, isn't that wild? That is good. And this, of course, is after they also I believe rallied quite a bit last night as well. I want to say to the tune of about 12%. You're looking at one 35 a share. This is enormous because they came out. I want to say swinging at a time when everyone was saying the consumer slowing down, a lot of business investment is slowing down as well. There's no way Amazon is going to make those numbers. Not only did they make them. They actually proved to everyone that the consumer exposure, the extra shipping costs, the inflation, they're going to navigate around it. And they actually are able to show that they increase their margins. That's enormous for a company, the size of Amazon, so a.m., zn is your ticket. 1.25 trillion market cap. Enormous enormous. Let's talk about Apple as well, because an a plus for Apple, it seems, at least that seems to be the trade this morning. 2.5 trillion market value. Exactly. It's wild. AAPL is your ticker up 2.8% this morning. And they actually talk about product growth here. Remember, apple is known for having that super secure supply chain that's kind of been their crowning glory. I want to say Tim Cook's big legacy. And they actually said, well, even with that economic slowdown, they still have some pretty good news, their revenue, their profit. It did top estimates. I wouldn't call it a massive beat, but it was a beat. And I think in this consumer facing company, in this environment, I think a little bit of a win here. Yeah. Absolutely. And I know Tim Cook was mentioning, you know, there's still supply chain issues. They probably had more demand that they could have filled for the iPhone and other hardware products, but the supply chain still challenged. It still is. And then I think what's almost interesting is we went into those earnings saying, well, there's a lot of inventory issues. There's a lot of retail issues here. So that's going to be a concern. Does Apple have to then start offering their iPhones on sale like they did in China do they have to do that for the rest of the world? I want to quickly hit those oil earnings as well because those are big ones. Exxon Chevron, another massive record profit that you saw Exxon shares XOM is your ticker up about 2% this morning. Chevron shares CVX as your ticker up 3.2%. Get this poll, they're increasing their buybacks by 50%. Enormous. I mean, so here's the question, you know, for just me, an energy consumer. Shouldn't you be drilling more or building more refineries to deal with the energy crisis? No, because they are being what analysts will call disciplined, returning cash to shareholders, paying off their debt, taking care of their creditors. That's what they want, I guess. That is what they want, but also look, there's this narrative, especially in the shale industry as well, and that there is no long-term point in long-term incentive to really build out those refineries when the administration is really pushing this EV narrative. Interesting stuff. All right. That's it. That is it. That's some good earning stuff. Big earnings, a big oil and big tech is right, and that's some really solid earnings news. And Lisa Ramos joins us here, and it's kind of been a little bit of an earnings week here. I know we had the fed, but the earnings are coming through pretty well, and that seems to be a catalyst for this market. Or not terribly. Not terribly. Exactly. But yeah, 20% about of the S&P in market cap reported earnings. On one day alone, but a significant proportion reported this week. And especially at big tech, they sort of lead the pack there. They do. And just some good numbers and we're going to have more coming up, obviously, next week as well. All right, face the nation. This Sunday morning, the CBS television network, John Dickerson, filling in for Margaret Brennan as moderator John joins us this morning, John. Thanks so much for taking the time here. I see you have senator Joe Manchin on your show this week. Penciled in. Boy, he seems to be at the center of every piece of legislation that comes out of our Congress. What are you going to chat about with senator dimension? Well, the piece of legislation that he's most directly at the center of at the moment, which is the reconciliation bill that he and Chuck Schumer worked out that has about $390 billion in spending and tax breaks for energy and climate, healthcare legislation that would help some of the 13 million people on the get their healthcare through the Affordable Care Act, reduce the cost of prescription drugs for Medicare recipients. So we want to talk to him about that. Of course, by Sunday, we might know what senator kyrsten sinema is thinking the other Democrat everybody watches in the tight Senate every man or woman as a king. And at the moment, kyrsten sinema is the one everybody's listening for. And then we're also going to talk about the inflationary aspects or deflationary aspects of the legislation with Manchin and senator toomey from Republican from Pennsylvania. We were speaking with Isaac boltansky earlier this morning of BTIG, a policy analyst, and he said that it was sort of shocking to him that they were able to keep this particular piece of legislation under wraps until they passed it, that Washington is not good at secrets, but this managed to be a secret kind of deliberation. What are you planning to ask him about the pushback from Republicans about his mixed messages and what he wouldn't support? Well, it's extraordinary. Of course, it hasn't passed yet, but it is extraordinary because when they announced the deal, they offered 750 some odd pages of legislative language, which requires a lot of tiny detail work that usually gets worked out after these deals are announced. So the fact that all the lawyers and legislative scribes were able to put this into language is really amazing that didn't leak. The Republican response has been essentially why did you change your mind on inflation, of course, and then secondarily, actually, as a practical matter, Republicans were always going to be against this bill. It doesn't need them because it can pass with 50 votes. But some Republicans are now saying that some of Manchin's other priorities on electoral reform and other things that require 60 votes, which means finding ten Republicans that now they're sore because this is going to pass and that they might not join in those other pieces of legislation. So then the question is, was that a part of your thinking, what do you say to those Republicans and get his thoughts on that? Because that means there is a cost here that goes kind of outside of the bill itself. So it's interesting, John, I mean, here we are in the dog days of summer, but boy, November is just around the corner. What is the feeling in Washington these days? As to, I guess I can phrase it is how difficult it might be for the Democratic Party come, the midterm elections. Well, the clouds are dark. I mean, Joe Biden's approval rating is low, presidential approving and approval and national politics have increasingly for the last 20, 30 years played a role in midterm elections. The out party is usually more enthusiastic than the in party polling shows that consistently abortion, which is after roe V wade, some people thought might energize the democratic coalition polling doesn't show a great deal of energy there. If this passes, it would be good for Democrats, but Republicans are quite energized. And so it's very likely Republicans will be energized too by passage or something with 50 democratic votes. So it still looks like a pretty tough future for Democrats. One little wrinkle is some of the Senate candidates who are running as Republicans in key states like Georgia, Ohio, Arizona, are having some stumbles. And so you have democratic candidates polling ahead of where the national party is. Any candidate who can delink from the bad national atmosphere might keep the Senate in democratic hands. That's probably the best bright spot for Democrats at the moment. All right, John. Excellent stuff. Thank you very much, John Dickerson, CBS television. Face the nation. This Sunday morning, you can hear John Dickerson this week on Bloomberg radio as well. Listen to face the nation Sunday. At 2 p.m. in New York, Washington, D.C.
WCPT 820
"exxon chevron" Discussed on WCPT 820
"He didn't. But I was hoping that too. And he wrote on it has been calling for it. Yeah, well, the other thing that he needs to do is use that to follow the gasoline is made for export only because it doesn't make us standards for us and you need to use that to put leverage on the Republicans to get a windfall profit tax on it. And I would go even further make that windfall tax go like 1% into normal profits so that the industry as itself, the oil industry can't make. Profits that any industry can make. You know, the oil industry. The oil industry is showing profits in the neighborhood of 70 to a $100 billion a year when you look at you add up Exxon Chevron Shell, the various companies operating in the United States. We're subsidizing. We're giving them subsidies that are also in that neighborhood. So I think, you know, I don't think it's necessary to tax their windfall profits. I think we just need to stop the damn subsidies. Well, that would help but we can use those profits to take care of the poor and needy, which is the thing that they really really hate. And they would simply destroy the oil industry to get rid of it and replace it. I created the instruction and the green energy section replaced that probably 80% of it in three to 5 years to get rid of that income stream that's going to the poor needy to whom they hate even more than they love greed. Because the Bible is very clear that the poor these rich dudes these sodomites see people who live in luxury and hate the poor. That's the definition of wickedness in the Bible about those because they just hate the foreign
WTOP
"exxon chevron" Discussed on WTOP
"Allen teddy gellman is our producer The top story we're following for you this morning the U.S. will very shortly announce new sanctions against Russia in the wake of the atrocities discovered in bucci Ukraine A U.S. official says the sanctions in coordination with the G 7 and EU include a sweeping package of measures that will impose significant cost on Russia and send it further down the road of economic financial and technological isolation The official also says the package will include a ban on all new investment in Russia increased sanctions on financial institutions and state owned enterprises in Russia and sanctions on government officials and their family members These measures are expected to degrade key instruments of Russian state power impose acute and economic harm on Russia and hold accountable The Russian kleptocracy that funds the war JJ green WTO news Meantime CBS correspondent Holly Williams reports as Russia and make that as Ukraine documents what Russian troops have done they've been uncovering more atrocities Ukraine says butcher is just the tip of the iceberg and the city of Murray a poll may have experienced even worse horrors They can't be counted yet because it's still under siege with around a 100,000 people thought to be trapped A Red Cross evacuation convoy had to turn back after being detained by Russian forces and Ukrainian president volodymyr zelensky has accusing Russia of using hunger as a weapon of war by deliberately targeting Ukraine's essential food supplies So lenski says Russian troops are destroying food storage depots blocking ports and leaving behind land mines Ukraine is a major global producer of wheat and sunflower oil and zelensky says that Russia's actions will have international ramifications Oil executives are set to be grilled today by a congressional committee about soaring gas prices WTO's Mitchell Miller has more now from Capitol Hill Top executives from Exxon Chevron and BP America are among those who will appear before a House energy panel And there's no doubt where Democrats will be coming from The title of the hearing is gouged at the gas station Big oil and America's pain at the pump Washington state senator Maria Cantwell has already chaired a Senate commerce hearing related to oil prices and middlemen Americans have the right to know Why one of our most important commodities doesn't have the right amount of proper transparency and oversight Republicans charge Democrats are trying to shift the blame from the president's energy policies which they argue have contributed to higher gas prices and inflation On Capitol Hill Mitchell Miller WTO news Happening today President Biden will sign legislation to provide the U.S. Postal Service with about $50 billion in financial relief last month in a rare display of bipartisanship the U.S. Senate voted 79 19 to approve the bill that also requires future postal retirees to enroll in government health insurance The postal service which is struggling with diminishing male volumes has reported net losses of more than $90 billion since 2007 An aggressive Fox grabbed the spotlight on Capitol Hill yesterday after it was captured by animal control officers That Fox was blamed for attacking at least 6 people including a reporter for Politico and California democratic congressman ami bera I.
WTOP
"exxon chevron" Discussed on WTOP
"Our producer and the top story we're following for you today This is the day that the U.S. will announce new sanctions against Russia in the wake of the atrocities discovered in bucha A U.S. official says the sanctions in coordination with the G 7 and EU include a sweeping package of measures that will impose significant cost on Russia and send it further down the road of economic financial and technological isolation The official also says the package will include a ban on all new investment in Russia increased sanctions on financial institutions and state owned enterprises in Russia and sanctions on government officials and their family members These measures are expected to degrade key instruments of Russian state power impose acute and economic harm on Russia and hold accountable The Russian kleptocracy that funds the war News Ukrainian president zelensky says Russia has committed the worst war crimes since World War II and he's calling for a Nuremberg style tribunal to investigate and prosecute any Russians involved CBS News correspondent Holly Williams has more from Venice Ukraine Ukraine says butcher is just the tip of the iceberg and the city of Murray a pole may have experienced even worse horrors They can't be counted yet because it's still under siege with around a 100,000 people thought to be trapped A Red Cross evacuation convoy had to turn back after being detained by Russian forces NATO's security secretary general says Russia will likely launch a new offensive over the coming weeks targeting Ukraine's eastern region Meantime President Biden has approved a $100 million transfer of javelin anti armor missiles to Ukraine bringing the total of U.S. Military assistance to $2.4 billion since President Biden took office last January The javelin missiles are funded as part of a broader $13.6 billion in aid for Ukraine approved by Congress last month Oil executives are set to be grilled today by a congressional committee about soaring gas prices WTO's Mitchell Miller has more now from Capitol Hill Top executives from Exxon Chevron and BP America are among those who will appear before a House energy panel And there's no doubt where Democrats will be coming from The title of the hearing is gouged at the gas station Big oil and America's pain at the pump Washington state senator Maria Cantwell has already chaired a Senate commerce hearing related to oil prices and middlemen Americans have the right to know why one of our most important commodities doesn't have the right amount of proper transparency and oversight Republicans charge Democrats are trying to shift the blame from the president's energy policies which they argue have contributed to higher gas prices and inflation On Capitol Hill Mitchell Miller WTO news The House select committee investigating the capital insurrection January 6th will consider contempt of Congress charges for two aides to former president Trump There will be an hour of debate than a formal vote on this resolution recommending criminal prosecution against Dan scavino and Peter Navarro two Trump aides accused of stonewalling the house January 6th committee in both of whom are accused of having knowledge of what was going on in The White House In the administration in the days before January 6th To recruit Americans to come to Washington with the false premise.
Bloomberg Radio New York
"exxon chevron" Discussed on Bloomberg Radio New York
"Obviously performing the results show that I want to focus a little bit on the transforming You said you're going to invest invest 40% of CAPEX by 2025 into growth businesses Can I clarify does gas count as a gas business And either way whether it does or not how much of that figure will go into fossil fuels businesses growth businesses by 2025 Thanks Mark Yes it's one of the things that we announced this morning And one of the things that's really exciting for us is that the transition presents enormous opportunities and one of the things that we've said this morning is that we will increase our investment into those transition growth businesses to over 40% by the middle of the decade 50% by 2030 to answer your question specifically natural gas is not one of those businesses where we included it would be much much higher But it is things like bioenergy EV charging hydrogen renewables or convenience business And we're really increasingly confident increasingly optimistic I think about the role that a company like ours has to play if I can just take one example takes sustainable aviation fuel We have enormous competitive advantage in that space because of our history We've got 5 refineries and we're going to build our we got several refineries We're going to do 5 major projects over the coming years to build sustainability fuel plants at them We have a trading organization which can source supply and we just signed a deal You've seen recently with new seed for a crop called carinata which we can convert into sustainable aviation fuel And at the other end of the spectrum we've got RBP which is present in every airport in the world We supply every major airline in the world So the question is why wouldn't we take advantage of that position that has been built over decades gives society what it wants which is lower aviation lower carbon emission aviation field in this example and by the way in the process create enormous value for our shareholders So we're very excited about this We believe that there's real real role for a company like ours in the future to give society what it needs and give shareholders real value creation So Bernard Looney their BP's CEO talking about the energy transition about the strong quarter that they've had and returning some $1.5 billion to shareholders So following in the footsteps of others Exxon Chevron and shell to do They are cash rich now At around $92 a barrels are returning a lot of that as you say two shareholders Okay coming up on Bloomberg day break Patrick Armstrong CIO.
Oil and Gas This Week Podcast
"exxon chevron" Discussed on Oil and Gas This Week Podcast
"I think it's time for us to to up and say no and you know what happened page. That's what they did. Yeah so like i said. Api has a lot of room for proven a lot of the organizations. All organizations have room for a prudent as far as catching up. But i just think it's incredible that they towed line in the and they told congress. No we're we're going to spend their money where we want to spend their money. So keep an eye on this. This is going definitely going down the dark rabbit hole from a political point of view. Well really pisses me off his in this article. It says they are obviously lying like the tobacco executives were and i remember. We talked about this because someone else pointed out an article by but no this is not like the tobacco the same thing exactly not even close. Try to connect those. I mean this literally is getting into the legal definition of defamation. So i'm glad that shell and exxon chevron toe the line guy they told them no but our government or any government does not need to be telling private enterprise which lobby groups which organizations they can join or not join. Yeah didn't tau pull out though. Yeah so yeah you know that's the fritsch super-major and they pulled out over. Api's skepticism over man's contribution to climate change at something i actually share with. Api for totally different reasons but this is utterly ridiculous and you know what page this is something that actually a lot of the people i've been talking to on both sides of fence both people that support our industry and the people that don't support initially on both sides say this has gone too far so it's kind of nice to see people that even though always see eye to eye with us saying there are federal government has no no place to be doing the sort of thing and got next al gore time to say goodbye to coal and oil and gas worldwide talking from the guy that quote unquote invented internet..
77WABC Radio
"exxon chevron" Discussed on 77WABC Radio
"But Byron donalds is a congressman from around Naples the Naples area of Florida Is an African American I saw him on TV once I thought he was superb and I brought him on life liberty and levent He said really good guy Turns out he's been listening to me on the radio for years And since we've had him on he's been all over Fox Why Because the other host know a great guest when they see one On my show of course And anyway so Byron donalds was at this hearing yesterday and he had had enough He heard this crap And here's what he had to say cut 12 go First of all to the witnesses the leaders of Exxon Chevron BP shell I know that the climate activists and Twitter world which Dave Chappelle says doesn't exist and he's right because it's just people who have nothing better to do with type on your keyboards And we do it too here in Congress But let's be very clear you need an apology because what I witnessed today was just rank intimidation by the chair of this committee Trying to get you to pledge on what you're going to spend your money on is a gross violation of the First Amendment And just because we're members of Congress and we got microphones and we passed laws does not mean that we also have the ability to infringe on your ability to what to organize whether it's API or anybody else or what you choose to spend your money on It is
Mark Levin
Rep. Byron Donalds Accuses Democrats of Rank Intimidation Against Oil Companies
"But Byron donalds is a congressman from around Naples the Naples area of Florida Is an African American I saw him on TV once I thought he was superb and I brought him on life liberty and levent He said really good guy Turns out he's been listening to me on the radio for years And since we've had him on he's been all over Fox Why Because the other host know a great guest when they see one On my show of course And anyway so Byron donalds was at this hearing yesterday and he had had enough He heard this crap And here's what he had to say cut 12 go First of all to the witnesses the leaders of Exxon Chevron BP shell I know that the climate activists and Twitter world which Dave Chappelle says doesn't exist and he's right because it's just people who have nothing better to do with type on your keyboards And we do it too here in Congress But let's be very clear you need an apology because what I witnessed today was just rank intimidation by the chair of this committee Trying to get you to pledge on what you're going to spend your money on is a gross violation of the First Amendment And just because we're members of Congress and we got microphones and we passed laws does not mean that we also have the ability to infringe on your ability to what to organize whether it's API or anybody else or what you choose to spend your money on It is
77WABC Radio
"exxon chevron" Discussed on 77WABC Radio
"So hearing yesterday in the house and they Marxist nutjobs were jumping all over the fossil fuel industry CEOs Who do a hell of a good job under the circumstances They're heavily regulated the prevented from exploring in so many areas of the United States now all federal lands which amounts to about 25% of the land mass of the country As well as other areas offshore and they try to do the very best they can And as a result of what they have done we were actually energy independent A combination of president Trump's policies and the genius of our fossil fuel industry So the Democrats are destroyed all that So the price of your fuel is going through the roof Whether you use electricity natural gas propane or actually a heavy oil to warm your homes during the summer Those of us who are not in the warm areas yet although I'm coming You're going to see your prices go up at least 50% Think about that The cost of driving the cost of production the cost of truckers bringing your goods The cost of plastics and nylons and polyester and on and on and on are all affected by this All of it And so this is what the Democrats are doing And they want to take about half a $1 trillion out of the budget that they want to pass excuse me the spending bill they want to pass And move it towards transitioning us from fossil fuels to alternatives Now if you're an egghead if you're an egghead who lives on the east coast or the West Coast if you're an egghead who really doesn't know anything about anything you think that's very cool That's a great idea You know if you're sitting on a college campus and a cafe you know I really think the time has long come where we need to move away from these You know engines that we use and fossil fuels and so forth And we really should husband the resources that are you know like the sun and that's unlimited source of power there And we can do this in many many ways but for the fact that the oil companies prevent us They won't allow us to do anything You know whack jobs like that And then the kids yes I have professor We think you're exactly right You're exactly right Why don't you sit down and be quiet You sound like you're a white privilege Nonetheless they're going to destroy this country So you have crackpots like Cory bush at a St. Louis Among others Accusing the oil companies of being racist Now why would they be racist and why would they want to be racist Because you're putting refinery in poor neighborhoods Now when I drive up and down the east coast I don't see refineries in any neighborhood Now maybe they are But what do we know What came first The refinery or the neighborhood But all that aside that's up the local zoning And so if you keep electing Democrats in the inner cities and you're upset about local zoning maybe you go to stop electing Democrats But for Cori Bush everything is racist Because she's a bigot Everybody's out to get people you see And the odd company executives they're totally perplexed by what this woman has to say As is everybody else But Byron donalds is a congressman from around Naples the Naples area of Florida Is an African American I saw him on TV once I thought he was superb and I brought him on life liberty and levent He said really good guy Turns out he's been listening to me on the radio for years And since we've had him on he's been all over Fox Why Because the other host know a great guest when they see one On my show of course And anyway so Byron donalds was at this hearing yesterday and he had had enough He heard this crap And here's what he had to say cut 12 go First of all to the witnesses the leaders of Exxon Chevron BP shell I know that the climate activists and Twitter world which Dave Chappelle says doesn't exist and he's right because it's just people who have nothing better to do with type on your keyboards And we do it too here in Congress But let's be very clear you need an apology because what I witnessed today was just rank intimidation by the chair of this committee Trying to get you to pledge on what you're going to spend your money on is a gross violation of the First Amendment And just because we're members of Congress and we got microphones and we passed laws does not mean that we also have the ability to infringe on your ability to what to organize whether it's API or anybody else or what you choose to spend your money on It is disgusting It is absolutely disgusting Somebody needs to go call Merrick Garland tell them to get in here and watch the intimidation that came from this very panel today Because this is not about defending big oil or defending big anything It's about defending the ability of people in our country to be free say what they want think what they want to spend their money how they choose and if we're not going to be any better than the Chinese how do we ever expect to beat them on the world stage when we're cutting our neck when it comes to energy production while they are burning more coal they are burning more oil they're increasing their emissions and they're not showing up in Scotland You know why they're not showing up in Scotland because they're interested in building an economy They're interested in becoming the dominant economic player across the globe They're interested in becoming the dominant military player across the globe and while we joke around and mess around intimidating you guys who frankly heat our homes.
Marketplace Morning Report with David Brancaccio
"exxon chevron" Discussed on Marketplace Morning Report with David Brancaccio
"Hey it's jed. Kim post a million bazillion million brazilian is a podcast for kids and the families that helps dollars make more sense in each episode. We tackle the tricky questions that your kids have about money. Like how's it. Made is our factory somewhere that makes it. Or what determines the price of visa and we're back with all new episodes. That's more answers to the questions. Your kids wanna know thoughtful ones. The silly ones and the really hard. To answer one's million. Zillion listen wherever you get your podcast. The international energy agency expects the delta variant to bring down demand for oil not only as the varian brought new covet restrictions and some parts of the world and stirred up anxiety at the very same time opec has plans to increase supply. All this together means prices are falling on monday reaching around their lowest level in two and a half months. That is the story of oil in the short term long term. Bigger things are playing out two of the largest us oil companies exxon and chevron are looking to grow in the renewable fuel space. They're actually behind their european rivals. Marketplace's kristen schwab is here with more on that. Good morning. kristen good morning. So where do these two companies currently stand in terms of taking up renewable energy both companies have been criticized for their slow approach to renewable investments. Exxon chevron have spent a lower percentage of their capital than companies like royal dutch shell and total energies on these initiatives right now renewable fuels account for only five percent of us fuel consumption. But that's expected to grow as different businesses moved to cut carbon emissions and exxon and chevron both say they are looking to adapt some of their existing facilities in two places where renewables can be made. How does that work yes. They're looking at processing raw materials like vegetable oils to make renewable diesel and gasoline. And they want to do it without greatly increasing the cost. Some refineries are spending billions of dollars to reconfigure their facilities to make these kinds of products. Well i mean if it costs billions of dollars to do that. How are they going to do that. Without increasing costs or spending well commercial. Production of renewable fuels is bottom line more expensive than making conventional gasoline. Unless it's paired with tax credits chevron is partnering with the epa and the california air resources board to try to find a way to produce fuel that would qualify for emissions credits. Other refiners have cashed on similar federal and state incentives chevron says it hopes to co process bio feedstocks by the end of twenty twenty one marketplace's. Kristen traub thank you so much. Thank you twenty. Twenty was a tough year for colleges and incoming students kind of goes without saying and according to the college board there were about one hundred twenty thousand more high school students who chose to delay starting college last fall compared to the year before in an effort to keep those wondering freshman from finding themselves at other schools boise state university tried something new a gap year program for college credit as boise state. Public radio's troy oppy reports. The program attracted both new and existing. Students boise state's pilot program served about two dozen students last year like autumn lay. She'd had a tough sophomore year and had already decided to work instead of going back to college and then gap your team. And i was like wow. This is exactly what i need right now so this is awesome that now there's a program that can also get credit for for a fraction of the cost of regular tuition students get credit for independent study or work within a theme like entrepreneurship or public service. And completing a project the pilot program offered career and academic counselors staff and peer mentors to five guides for every student program director kelley meyers. That was the real magic of it. A lot of us just really wanted to be able to serve and support students in a time of great uncertainty but that secret sauce was too expensive. To serve more students. Myer says they adapted it for small cohort groups instead of one on one. We're helping them connect to people and opportunities that align with their interests they also raise the cost of the program thirty three percent myer says that means though break even and can grow to serve as many as five hundred part time gap year students. I think the full-time student is can decreasingly. Be the norm. That's dr liu sanborn senior vice president at ruffalo noel levitz and enrollment and fundraising consultant group. We live in an experience economy right now and it's clearly. What consumers are telling the marketplace then education needs to be able to understand how it needs to reframe itself adding the gap year programme helped boise state hold onto students like autumn lay who now plans to pursue an education degree. Need to realize what i wanted to do. And what fits me best as a person and in other schools have taken notice. Boise state is partnering with louisiana tech university to establish a gap year program. They're starting this fall in boise. I'm troy oppy for marketplace. And we just want to note that boise state. Public radio is an editorially independent community. Service of boise state university which owns its broadcast license in new york. I'm sure with the marketplace morning report from apm american public media hollywood host of marketplace tech. A show that helps you understand the digital economy. How a more of the country get access to better internet. What new jobs will artificial intelligence create or destroy and what tools will help us. Survive are already changing climate. We tell the stories behind the technology in our lives and every weekday. Our podcast brings you insight. You won't hear on the radio checkout marketplace tech. Wherever you get your podcasts..
What A Day
"exxon chevron" Discussed on What A Day
"Let's wrap up with some headlines head aligns new york governor. Andrew cuomo is facing three new investigations from state prosecutors into sexual harassment claims by current and former staffers. The da inquiries will look into potential criminal activity in manhattan where he has his office westchester where he lived for most of his term and long island where he was accused of making unwanted physical contact at an event. The lawyer of lindsey boy lynn. One of cuomo's eleven. Accusers said yesterday that she plans to sue him and his close advisors who retaliating against her when she accused cuomo of unwanted sexual advances. All of this adds to the mounting political pressure on cuomo to step down yesterday to former members of his administration and the head of new york's democratic party called for his resignation. Yeah i do not understand how he is still in office. Democrats in congress want to make major polluters pay for how much damage they have done to. The planet maryland senator chris van holland proposed legislation which seeks to tax exxon chevron and other oil and gas companies for their contributions to climate change if it passes the treasury department and the epa would be in charge of identifying major polluters in determining how much they'll pay based on the emissions that they've created in the past decade according to senator van holland. The law could bring in an estimated five hundred billion dollars over the next decade. Which would be used to pay for clean energy research and assists communities dealing with the consequences of climate change. Dan holland is hoping that the bill gets enough party support to be attached to the budget. Reconciliation package success often comes after setting goals and stating your intention. All right and this next story is no exception. Riana is officially billionaire with forbes reporting her net worth yesterday to be one point seven billion dollars. She's now the wealthiest female musician and the second richest woman in entertainment. After the one and only oprah winfrey. This news is frankly worrisome for any of us waiting for iyana to drop a follow up to her album anti which came out five years ago since then she's been focusing on her businesses vinci beauty and savage xfinty lingerie which are worth two point eight billion dollars and one billion dollars respectively with both brands. Riyan has found huge success marketed. People of all shapes sizes and skin tones meaning. You might be able to make a billion dollars just by noticing that not. Everybody looks the same What a novel concept My weekend is officially wide open because former president barack obama is scaling back. Its sixtieth birthday party on. Martha's vineyard the saturday amid concerns about the delta variant of corona virus so the event was initially planned to include hundreds of democratic donors and celebs reportedly including george clooney and oprah winfrey the scale and timing of the event drew criticism this week mostly from people who were not invited and it will now be limited to family and close friends in south dakota though a much larger event is not letting delta get it down the sturgis motorcycle rally. That is a throwback. We'll kick off this friday. With seven hundred thousand people expected to attend seven hundred thousand absolutely absurd. Last year this was a symbol of man's refusal to let a deadly pandemic stopping from wearing fifteen pounds of leather outside by one estimate resulted in cova spread the cost of public twelve point. Two billion with a b. dollars in healthcare costs south dakota governor christie nome will also appear at this year's event presumably her plans to protect everyone by chasing away all the covert on her motorcycle. I just don't understand why why everyone just has to be fools these days i. It was boo boo. Now it is. You know the sturgis people. I don't understand it's it's in the air it's all around us I am not looking forward to hearing more about that. And those are the headlines one more thing before we go you can now binge. The entire season of edith a scripted podcast crooked and q code there is an incredible cast that includes rosamund pike as first lady edith wilson. And it's written by travis hellwig and gonzalo cordova friends of the show as vulture puts. It edith is a fiction podcast that stands as a really good time to minute and that is no small feat. Listen to every episode of edith. Four free on apple. Podcast spotify or wherever you get your podcasts. That is offers api like show me sri subscribed review. Facetime us from obama's birthday party and tell your friends listen and if you and reading and not just the zeroes after his net worth like me. What a day is also a nightly newsletter. Check it out and subscribe at crooked dot com slash subscribe. I'm travel anderson getting resnick and a drop that up. Riyadh riyan save the summer whatever's left of it. It's all gone. It's it's fine it is. It's a loss what they is a production of crooked media it's recorded and mixed by charlotte landis. Sonia ton jazzy marine are associate producers and kelly. Sadah coon is our intern or head. Writer is drawing milstein in our executive producers. Leo durant and meet our theme. Music is by calling gillard and cachaca on potsy the world. We wanna be your cheek for global events. My name is tommy vitor in each week. My co host. Ben rhodes and i break down the big stories from around the world ben and i both worked on president obama's national security staff in. We'll introduce you to the activists. Politicians journalists can help us understand. What's going on around the world. What it means for the united states and what. It's like being inside the white house situation room during a crisis so checkout pod. Save the world from crooked media. It's a conversation about foreign policy. Can people who don't take themselves too seriously. Movies music celebrities. Making bad choices crooked. Media's weekly podcast keep it. Has it all hosts ira madison. The third lewis retell and eat a osman are joined by comedians actors musicians and more to discuss the latest ways pop culture and entertainment have intersected with politics and society expect to fund guests award show grievances and plenty of shade new episodes of keep it. Drop every wednesday. Subscribe on apple podcasts. Spotify or wherever you get your podcast..
Blank Check with Griffin & David
"exxon chevron" Discussed on Blank Check with Griffin & David
"Mingling of their technology of his technology when he takes to the court and he's like super powered. It's just like well. He's a little kid and he's got these fucking like tron beans around his arm and he can jump really high and he can do fucking whatever like it just means nothing the game is rigged. He throws this fucking jump point. Lebron wins the things over. Everyone's celebrating then like five minutes later. Bugs like cough cough. It's been nice see needs to die because christ okay. I don't know i. I have no idea when that was happening. I was ready to leave. Break go home to my three minutes later on walking into three camp and then bug strong literally ends on the taco tuesday. Yes that's aloft just in some ways bidding and so but like how did you get here. We're tunes it's like you're not gonna say like we fucking broke the servers we all exist in your world once again in the original space jam. Michael jordan has to reckon with the discovery. Your real all of you are real like there's a reaction to that you exist in this. It's just like oh you found a way to come through the tv cool. I don't have any spare bedrooms. We have the answer. Is you probably have a lot. It'd probably probably fairmount aspera. Also do tune sleep. Do they know what's the big red guy again. Gossamer love gossip. I get screen time in the transformation he does. I will say we should. Let's play the box office game. I'm done talking about this movie but there's one of them. Sorry we have at least another hour. There's they get turned into as you mentioned three d. c. Yes which we knew because there was in the promotion. And there's like. Oh god now. The movie actually percents. This is like a hellish abomination. It's like yes. Algae rhythms final insult. Is this yeah. So it's kind of funny. That's in there where they're like. Look we did it. And they're like we know it's bad like we know that's not cool. I also just want to remind you do it. A also wanted to mention i noticed. I was in the crowd in the movie. You're in there. I had no idea i remember. Being they acquire blank check productions. What part of what happens to. Lg rhythm at the end of this film. Do we have leave right right. And warner brothers. Just takes his next pitch. There's not even a sequence of warner brothers. being shut. That down shocked in a canon. Like michael jordan is like nerd locks. Why did you let him talk like this. And they realize that they have an abusive boss and they fucking shove them in a canon and then the nerd looks are on the basketball court for two shots at the end of the show. I'm seeing here that i forgot. He remember he post arises algae rhythm yes fatality. Ernie johnson johnson to does the you know the the commentary who is a great a great a great man television personality guy. Every but just really. It's a tough. that's not when when them is deleted. In that moment i forgot remember. He goes like this isn't how i want to that part of the game. I think yes. Rules apply to himself. I guess loser is deleted. it means nothing and when what's his name Chris davis who plays malinche came on screen. I was just like why. Didn't they hire little relative. Do this usually right. Yeah and then very little real and and what's his name the other commentator in. It's just like well. That's not putting him in a bill. Murray position he has nothing to play off of. Yes you're just putting him with a guy who's not a comedian on a green screen reacting to nothing pre-written jokes whereas like murray night. The whole point is like give the basketball players someone to play off who is funny as opposed to an okay child actor and a dramatic actor who is trying to like cut loose by the way if they if the sun had just designed sort of the the the new. Nba jam right. That would have changed the whole. That's all it needs. This extra layer kevin but just the whole idea of random like the power ups. I wish i could remember any of their names. As the problem any of the trick plays of course there's the notorious five flips the court with a spinning. He does do that. I'm trying to remember. What are the things that happened. They move the hoop right is algae rhythm moves hoop and just that one time done that more often. If you wanted to win my pregnant she does it. She does does the like slow motion on kronos and the only one i kind of like has it felt a little more like actual looney tunes. I think the only looney tunes they get right in this movie while coyote and road runner and it helps that they're silent and they can't have them say dumb shit but that that bit is almost a a decent. This is how a looney toon. We'll play basketball thing where he has the crazy mean contraption and he puts birdseed seed on it and he knows that roadrunner will hit it really fast and make a bunch of balls that works for me. That was yeah. Give that a five. Yeah i forgot about that to read the the the the many wylie's also go into the who the clones right right and so that i mean gets them a lot of points. You need to acknowledge that was just good play they do. I just want to say We talked about the aboard. Space jam sequels. They didn't make right in action was supposed to just be a pin of like. It's been six years. We need to get something back out there. And then we're gonna make skate jam. Their plan was to make skate jam right after back and actress back option which is whose charismatic as tony hawk. Such a good actor. Good actor. I really enjoyed to sir. He doesn't speak in his crap back and actions a huge fucking a huge flop even though it's a very artistically successful movie yes i it has been a joy for me because i've defended that movie for eighteen years now last month of probation articles as people being like this is the one we should respect not space jam and that movie look. Is joe dante trying to deal with a lot of stupid studio notes. And there's weird shit in that movie but it it has a pure heart and there's really exxon chevron and he gets the looney tunes But since then like every three years warner brothers tries to do something. With the looney tunes there was famously. The sing lunatics unleashed which was their post back in action. Thing where they were like okay. We failed the lunatic. The looney tunes are no longer funny. There batasuna comes. Superhero dislike dark gritty. They all have like neon tron colors and like gritted teeth and they're like a space force that's fights people and that lasted for two seasons and was like despise. They did a show called the looney tunes show. That was all the characters but in like a sitcom sort of setting bugs and daffy were neighb- roommates trying to fucking remain. The way knew that was just like bugs. There was another one that was on recently. I will say this lebron on. This movie is rumored as early as twenty thirteen riley. People make the joke as as soon as lebron the court twenty thirteen. It's rumored. I remember because i was on the set of a draft and it's reitman joe metrics appears to produce that fucking movie and i was like what's the deal with this genetic. No one told us like a good luck god speed. That was a fucking nightmare. Make that movie have fun trying right and then a year later i believe train comes out is a big hit. And then lebron signs overall deal with warner brothers and people are like they're ego. Finally it's happening. It takes five years to get to filming after that point. Justin lin's attached at one point because nowhere. The dick ebersol sons. Were writing it. At one point they fall off. Then when kugler nancy comes on when it finally gains traction and than nato salsa when lebron musto which by the way all part of everyone says oh he's doing it because he wants to be fucking doing this argument stuff..
KPRC 950 AM
"exxon chevron" Discussed on KPRC 950 AM
"The weekly newsletter. Lots of great information. Also great resources there and one I'm going to point out to cause hurt some, you know, rumblings lately or so discussions that Houston maybe Set for another round of layoffs in the energy industries. We know that's that sector is changing quite a bit with the new administration and just, you know, kind of the new initiatives of the Green energy and a lot of things are changing, but layoffs are definitely something that's part of it. So you know, a while back. We've seen this before in Houston, so we survived it. But we've seen many rounds of this. We did I think in 2015. We created the Houston layoff Survival guide. So that has actually been updated. Scott Bishop, one of the planners here is a you know, video in wealth. He put this together in his team and lots of great points. And I'm gonna kind of Spend a little time here because they're layoffs aren't fun. But you know what? It's not something that you want to see in your town, your economy, but it happens and I think being prepared for it is very difficult and emotional time. Psycho psychology wise. I mean, it's a hard thing to get through a lot of stress, financial stress being Probably one of the most difficult things for people to get through is that but it kind of starts out here. You know, eight tips, helping you better project. Your family and the Case of the event of a layoff, right, so just kind of giving you some ideas of what this looks like, Um, he's kind of a starting point with the eight tips. Is it possible to avoid a layoff? Well, if this is kind of the question, you're at a job. You're starting to hear. Uh, you know what That might be? Well, we have some advice in the survival guide. So you just go to the website. You can download it for free. We ask few bits of information. That's it. Um, What do you need in your layoff Survival guide Kit. Are there better ways to manage your layoff? What are the first things you need to do that are non financial, right? What are the best tips to financially survive a job loss? And if you're getting a severance package? What should you be considering? Then what should you do with your 41 Ks your pension plans, deferred cop, etcetera, And is your next job to work for yourself? We're joined consulting a lot of people in the energy business. We know what I've seen Many of my personal clients. They've either been laid off for they leave or they retire early. And they go to consulting. So there are things to consider, but I think that's you know, the one goal with the layoff Survival Guide and I think is there's also linked to webinar is to help you think through how to best answer. These questions, okay? And so the guy goes through it and You know, kind of again. I think started with the number two point. What do you need in your layoff? Survival guide kit. Okay, if it's possible for you to get laid off, or you know, to prepare right? Then this kid is going to be and probably want you want to look at. So we have a tool that suggest all the different guides. But our guide includes several additional things. Here's a couple things. I know what you're owed. So you know, many times, people, you know they get laid off. They have a final paycheck. They had accumulations of vacation time is their severance pay Some of these, some of these companies we here are offering packages. Look, I mean, you know Exxon Chevron shell. You know a lot of these companies here in town. We've seen this many times before, and we've actually had some of our clients where they've come in and show me Different packages and some of the different choices and and things And so we have. We have to go through those. What is your employment contracts? Say So this is time right now, if if you're not will be laid off, or if you're, you know, maybe, and potentially could Get out. The employee handbook read through that be familiar with it located at least know where that is, and then know where you're going to get your tax information..
No Agenda
"exxon chevron" Discussed on No Agenda
"Going on within the past few days suggesting us sanctions haven't made much difference. This report is totally full of sh- crap. Since when is microsoft. The only person you talked to about a government agency getting hacked will the guy about the. They're incompetent but because because the. Us government has outsource almost everything to commercial companies including their email. You know microsoft's running that and then to say the intent of it was to gather information on a hundred and fifty emails. They sent i call bullcrap on that. And it's just not a valid report with a guy with some unnamed guy from microsoft. Who's not even in. the story. Did well microsoft microsoft says it. It's just it's just like getting your vaccine from bill gates good information. They continue three weeks. After gas. stations temporarily dry and fuel prices soared homeland security to notice. That positioning isn't that interesting. Like the whole world ran out of gas and prices soared. It was crazy. It was quite local. This week's after gas when you play the clip from the world economic forum. The guy claimed that that the pipeline was national artery of the entire country. We're all gonna die. That's exactly how they're positioning this. Because we need to have a national grid we've gotta tear down whatever you gotta tear down pipeline going down. Let's let the whole country go down. That's great idea. Three weeks after gas stations when temporarily dry and fuel prices soared homeland. Security today ordered oil and gas companies to take immediate steps to guard against another cyberattack designate. A company cybersecurity coordinator who's available. Twenty four seven review company operations. Javelin security of any cyber vulnerabilities within thirty days and immediately report and coordinates cyber incidents companies. That don't comply could be fined up to seven thousand dollars a day ransomware as one of the greatest cybersecurity threats that we face in the united states. But it's the tsa that's in charge of pipelines cybersecurity the former director of homeland cybersecurity sousa says. Tsa can't do it alone. We need additional support from other agencies. Likes the intelligence colin's second. It's kind of weird the way that came out because it is the transportation security administration that is responsible for it but when he says the. Tsa is responsible for it. The first thing that i had in my mind is with those dopes at the airport. Is that what you thought or do. How did you catch that. Yeah so i thought those dogs at the end. Maybe that was say the. Tsa jobs at the airport or the ones who you're never gonna get through their particularly again. Emma the airport guys at the airport work for homeland security. And i would assume that that's all they do. I didn't know that they also did anything else. That would I thought you homeland security would be responsible right. That's why it's so interesting that he does bring up in this report homeland security but makes it sound like it's the tsa anyway. We'll listen against ransomware is one of the greatest cybersecurity threats that we face in the united states. But it's the tsa that's in charge of pipeline cybersecurity the former director of homeland cybersecurity sousa says. Tsa can't do it alone. We need additional support or eighty. Looks like the intelligence community. Also the department of energy meanwhile big oil is facing another potential threat shareholders at exxon chevron determined to force those companies to more aggressively address. Climate change in dutch has ordered show to cut greenhouse emissions by forty five percent within nine years. Wait for big oil. You have to understand. That's why i keep mentioning the agenda. The agenda is a covid cybersecurity. Ransomware climate change. It's all an and the the cyber security because it's taking down the infrastructure. This has been tried for many many years and debunked along the way pull russia hack into the grid. No they didn't but remember all those stories just as if russia They you can still catch story today saying well a twenty eighteen russia hacked into the grid. And it's not true so the idea is learn how to lock down. You're gonna have to lock down because your lecture. He's going to go out because of russia and while we're at it we might as well re-build a whole new grid that is resilient against russia and helps climate change. That's why it's coming out this way. Dish also court from other agencies likes alike the intelligence community and also the department of energy meanwhile big oil is facing another potential threat shareholders at exxon and chevron determined to force those companies to more aggressively address climate change while a ordered show to cut greenhouse emissions by forty five percent within nine years. The wakeup call loud and clear for big oil for both shareholders and the courts. Change your business model. The better combat climate change. It comes as gas. Prices hit a seven-year high following that cyber hack and the green movement is gaining momentum worldwide. This is the post. I have a report to play. That's nbc nightly news. Okay well here's cbs. And this was the good morning or what is it. Cbs show. That's a morning show morning morning america. I think they have more something like that with the Gale gilbertson acer this anthony mason targeted and this is like a title bogus. Climate change and listen carefully. Because they're talking about the one point degrees and then they mentioned it describes gone around by the way it gave missing. What's the one point. Five degrees which is arbitrary bullcrap meteorologist and climate specialist. Jeff berardelli jeff good morning. How dire is this actually expected to get so yeah in the next five years is somewhat likely that will hit one point. Five degrees celsius briefly temporarily. That's two point. Seven degrees fahrenheit warming since pre industrial times. It's likely to happen during an el nino year. That's when it's warm in the pacific so natural variations on top of climate change. Then it will go back down but you know this is really just a sign that humanity isn't doing very well in managing our global greenhouse emissions and at one point five degree celsius. It's not like we're going to fall off a cliff. We're things all of a sudden they're going to get catastrophic but things will progressively get worse at a much faster pace. The intensity of these extreme weather events will pick up. We'll see compounded events heatwaves on top of sea level rise on top of lows hurricanes and impactful hurricanes and so things will get worse and worse if we briefs that and the bottom line is by twenty thirty twenty thirty five unless we really rain in our missions very quickly. we're likely to get to one point. Five degrees and continue to increase our warming close to two degrees and again we have to do something very quickly about it. Or we're inevitably heading in that direction. Deficits a symbolic marker y. Yeah because i mean humans shows it right. We chose one point five. We chose degrees so again. It's not a tipping point. We're gonna fall off a cliff. It's just that things will get progressively worse and worse at a faster clip as we head towards that. we'll see bigger hurricanes. We'll see worse flood. We'll see worst wildfires and probably setting ourselves up for a pretty bad wildfire season in the west this year or early. Thanks tidewater architects kids. It's the job of the future.
Yahoo Finance Market Minute
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
MarketFoolery
CEOs of oil giants Exxon, Chevron discussed mega merger
"I'm gonna start with something that happened yesterday. A quiet snowy sunday here in the greater metropolitan washington dc area and it was lovely. It was nice to. It's nice to just look outside and see the snow falling in a place where snow doesn't fall very often and i was snapped back into reality at some point during the day when i looked at twitter and saw the news reported by the wall street journal and reuters that last year the ceos of exxon mobil and chevron discussed the possibility of their two companies merging and i wasn't around in one thousand nine hundred eleven when standard oil was broken up. But i've studied enough of my business history to know that well to inform. That was my first thought. We're getting the band back to like. Are they going to rename the company standard oil. I mean what did you think when you first saw this news. Well the first thing that came to mind was was rocket rockefeller and standard oil in time. Time certainly have changed since standard oil. Right i mean the world is slowly but surely evolving its energy policy. And it's it's clearly going towards renewables. Things like solar and wind and in batteries and further away from fossil fuels. I mean that's no secret. Now i mean i think the time line is such that it. It's gonna take a while to get there. I mean when you think about fueling the entire planet. It's not just it's not just cars right. I mean we're talking about all sorts of different all sorts of different All sorts of things that really need to be powered and so to me. I actually could see world war for this does make sense in part of it is because this this industry is one more scale really really counts. I mean it in. Furthermore you have to businesses here. That really aren't quote unquote lighting. The world on fire. Either i mean you look at exxon over the last five years shares are down about forty percent chevron i think relatively flat over that same time period and they they have just become smaller companies. They're just not the behemoths that they used to be in so to me. I mean i feel like this probably would have been a little bit more realistic. Had they done it or tried to do a year ago. I'm not sure it would really pass muster in this current political environment. I think the the scrutiny would probably be a little bit to create particularly is is the biden administration has really got fossil fuels the crosshairs but i mean i could see a world where this actually made
WTOP 24 Hour News
Exxon, Chevron CEOs Discussed Merger
"Have been the biggest merger in history. Had it happened. Reuters is reporting that the chief executives of Exxon Mobil and Chevron held preliminary talks early last year about combining the two companies, which are the two largest oil producers in the U. S. Those talks ended, But observers say the fact that they happened at all shows that the pressure that the energy The industry's most dominant companies are facing as crude prices plunged during the pandemic. The share prices of both companies stocks nose dive last year, one source telling Reuters that the talks were serious enough that legal documents were drafted. It's not clear why the talks ended when he uses brought to you by General Dynamics I t
All Things Considered
Big Oil Evaded Regulation And Plastic Pellets Kept Spilling
"Plastic pellets have been spilling into oceans and rivers. The world over where birds and fish eat them. They are the building blocks of all plastic melts 350 of them. You get a yogurt cup 1000 gets you a water bottle. But an NPR and PBS frontline investigation found the oil and plastic industry has long known there an environmental problem. NPR's Laura Sullivan brings us this story about how the oil in plastic industry evaded regulation. Despite decades of spills. You probably haven't spent a lot of time standing on train tracks looking at your feet. We're looking at the edge of a highway outside of plastic manufacturer. If you did, there's a good chance you'll see them little plastic pellets. This is Kocsis Creek, and we're looking at fresh pellets. It has fallen out of the Terps. Ronnie hammering is standing on state Road 35 in Southeast Texas, rising four square miles. Behind him is the petrochemical plant, Formosa Plastics. And they're not just here. There over there. They're important Lakha. You're gonna find him down the road Hand looks not an anti plastic environmentalist. He's a former supervisor who worked to Formosa for 25 years, And while he worked there, he says he was told to cover up spills of classic pallets. I want you to put down a certain number. You know what I'm saying? They want to keep it love. So So you line so would you like That's my job. That's my bread and butter, so I got to do what they think. I got a family. What's striking about standing outside Formosa and finding pellets? 100 yards from the plant's edge is that last year for most agreed to pay $50 million to settle a lawsuit in which it agreed to zero discharge of pellets. And yet, here they are and down in the creek, where the plant drains thousands more. Ah federal judge called Formosa, a serial offender for most of says it's working to improve its containment systems. But Formosa is just one of thousands of companies that either make or use plastic pellets in the United States. The oil and plastic industry says it doesn't have a problem, Officials told me for most of it was simply a quote bad actor, while leading companies like Exxon and Chevron recently told shareholders that at their dozens of facilities worldwide Either lose, not a single pellet or just two sandwich bags full. And here's how they say they've done it. Thanks again for signing on the operation Clean Sweep Operation Clean Sweep is a voluntary program the industry came up with in 1991. Companies that joined watch videos and promised to keep pellets from spilling from plant truck ships and rail cars. There's no data required. No numbers, nothing public. The operation Clean sweep is truly making a difference. Together, we can achieve zero pellet flake and proud of us. The industry says it's been a success. Pellet containment is incredibly important to our members. Steve Russell was until recently the vice president of plastics for the American Chemistry Council, which jointly runs the program, Nobody wants plastic in the environment. And if it still happens, and if we're gonna assume it's an accidental release, then it will be reported and remediation steps could be taken. Formosa is an operation Clean sweep member. So I asked to former workers and Ronnie Hamrick about it. I have no idea what you're even talking about. I've never heard it. There's evidence the industry does, in fact, have a pellet problem. Recent spills on beaches in Louisiana in South Carolina and studies show pellets are contaminating oceans, killing birds and fish and carrying toxins through rivers. There's also evidence the industry has known about this problem all along. In 2005, the industry participated in a study of 10 pellet plants. It found pellets washed away in heavy rain at every single facility and called Operation Clean sweep. Inadequate. But even long before that, there's a memo buried inside thousands of documents left over from old industry lawsuits. It was written in March. 1991 Thean Mysteries Trade Association warns top executives from Exxon, Chevron, Dow DuPont and others. But the EPA have recently found pellets to be quote ubiquitous in the environment. Regulation and permits are likely coming, the memo says. Unless they act quickly, it may still be possible to institute voluntary programs to address the pellet issue, it says. Unless this occurs, it is likely EPA will act independently. Then, just four months later, we developed a program that was called Operation Clean Sweep. Lou Freeman was a vice president at the time for the trade association, then called the Society of the Plastics industry. I don't recall any discussions. But quantitatively measuring the success of the program. It was being measured really about who is participating that what the results were, so it was a voluntary program without any metrics. Yeah, I would like to think that they were also doing it because it was the right thing to do. But I'd also be naive if I didn't think that much of the motivation was was governed by, you know. Keeping the regulators off our back today. The EPA doesn't regulate pellets and in the almost 30 years since, the agency told NPR it has brought just 10 Clean Water Act enforcement cases against facilities accused of spilling pellets. How would anyone really know if pellets were leaking? If you head down to the Gulf of Mexico pellet manufacturers like Chevron Phillips say they're not. I can tell you that. It's not a problem here at Chevron Phillips, we have almost no Let's leaving our sights. Jim Bakker is the
Bernie and Sid in the Morning
Exxon, Chevron lose $887 million as pandemic pain continues
"As much in the pandemic that has crushed demand for gasoline and jet fuel. Exxon Mobil laws $680 million in the summer order CEO Darrin would says the company's been cutting costs. Exxon is cutting 1900 jobs from its US were forced Chevron lost $207 million in the quarter. Chevron is also eliminating positions. Oil demands expected to Decline 8% this year. Colgate Palmolive
Planet Money
How Big Oil Misled The Public Into Believing Plastic Would Be Recycled
"How did millions of Americans come to believe that most plastic would be recycled when that's not actually true Laura Sullivan is GonNa take the story from here. Okay, it seemed like a good place to start was the plastic industry they make the stuff. Did they know the truth about recycling plastic? I headed to one of the birthplaces of plastic plastic comes from oil. But really comes from the dupont chemical company and some of the plastic industries old records are housed in the Hagley Library. It's this stone building on the grounds of the first dupont family home in Delaware. This is a place that actually used to store sodium nitrate back when Dupont made gunpowder not plastic. There's an archivist with a bow tie a handlebar moustache named Lucas Clawson, and he looks like someone would make cocktails. Lucas wheeled out a cart of boxes. Thank you. Files that documented the discovery of a chemical marvel that changed the world, a product that looked like glass but break a product that could also look like lightweight fluff but keep things hot called Styrofoam and incredible new film that can preserve food for days called. Saran. Wrap there were a couple of clues about recycling inside the boxes from the industry's most powerful lobby group at the time the Society of the plastics industry their job was to lobby for the big oil and plastic companies. So think Exxon Chevron Dow Dupont. And there's this one memo from one, thousand, nine, hundred, seventy, three, the. Movement is just being born, and one of the top people in the plastics industry is talking about how the cost of sorting plastic is high but it seemed like a lot of the documents were were missing I find reference to a memo a report, but then I noticed that someone had drawn a line through it Lucas. Can I ask you a question absolute. Okay. Why? In this section are all. These APPS. So many of these. Cross out because those records are no longer. Here anymore day or not where did they go the society of the Plastics Industry Astra them back think they really yes is an unusual. That doesn't happen often. Do you do know why they took them. Did they say? I, do not know. Okay Of course, there are all kinds of reasons why an industry lobbying group might want. It's records back I did call society the plastic folks and ask them if I could see the records they took they said No. So I headed to another library this time at Syracuse University and they're buried in its tax, our boxes of files donated from an industry consultant. Actually the industry consultant died in the why found the boxes and gave them to Syracuse and inside these boxes. I found what I was looking for a report was sent to top oil and plastic executives in nineteen seventy three. It says, recycling plastic is nearly impossible. There is no recovery from obsolete products. It says recycling is costly sorting. It is infeasible plus it says plastic degrades every time you try to reuse it. So the oil in plastic industry new, they've known for almost fifty years. and. Then I found more confidential memos in meetings echoed decades of this knowledge insight thousands of pages of courtroom discovery. There's a speech from an industry insider in nineteen seventy four when it comes to recycling large quantities plastic, it says there is quote serious doubt that it can ever be made viable on an economic basis. Now. Okay. Sure. Anyone can take something plastic melted down and make something else. But what these documents are saying is that it's expensive, it's time consuming it's chemically problematic and it's just cheaper and easier to make plastic out of new oil instead of plastic trash there are all kinds of names in these documents men who have never spoken publicly before and there was one name I kept seeing over and over he. was, giving speeches at fancy hotels, hosting conferences and Berlin. Phoenix, they called him a bigwig. He was the industry's top lobbyist. Larry Thomas this is the man I had to find but do you know how many Larry Thomas's there are in the United? States. Thousands I'd call say are you the Larry Thomas used to work in plastics? Are you leery Thomas who used to be president of the Society of the plastics industry? And then finally, I'll prompt Merrin the plastics industry no getting around it the BIGWIG himself I'll walk. Do that's for sure. Yeah. My personal views certainly didn't always job with. US I had the quake as part of my job. That's the way it was there. He's retired now on the coast of Florida but I told him I've been reading all about his exploits in the world of plastic. Where would the offices the officers were? What would you think they would be K. Street yes. Twenty Five K. Street Casey was the heart of lobbying in Washington and it was in those offices at top executives in the world's most powerful oil and plastic companies met they had meeting after meeting about a little problem they were having there was just too much plastic trash consumers didn't like it. In one of the documents I found from nineteen nine, hundred nine Larry wrote the top oil executives at Exxon Chevron, Amoco Dow Dupont proctor, and gamble in a bunch of others he wrote the image of plastics is deteriorating at an alarming rate. We are approaching a point of no return. The classic. I was under fire. We gotta do. What it takes to take the heat off. Because we want to continue to make classic equality, they wanted to keep making plastic but the more you make the more plastic trash you get and the obvious solution to this is to recycle it but they knew they couldn't remember it's expensive. It's a great. Discussion about how difficult it was to recycle. They knew that the infrastructure wasn't there. So really have recycling amount to a whole lot. So they needed a different plan. Larry Decides to call a bunch of meetings at fancy hotels. He summons the Society of the plastics people executives Larry doesn't remember the specifics of each particular meeting but one of his deputies at the time Lou Freeman he remembers you could. Get. Back all the layers of my brain. Lou, remembers a bunch of meetings the basic question on the table was. You guys you're our trade association in the plastics industry aren't doing enough. We need to do more. This one dupont executive was telling Lou. It's your job to fix plastics imaging problem. So what do you need? You said, I think if we had five million dollars. which seemed like a lot of money. If we had five million dollars we could. We could. We could solve this problem. And My boss said in response. If you add five million dollars, you would know how to spend it effectively. Well, they came up with a way to spend five million dollars that and a lot more I. Remember this. This is one of these exchanges that sticks with me thirty five years later however long it's been. Anna was You know what we need to do is advertise our way out of it. That was the idea thrown out. The industry decided to advertise its way out of a can't recycle it problem. The possibilities off plastics plastics. From dense. Touted the benefits of a product that after it was used for the most part was headed to a landfill incinerator or even ocean. Look empty yet it's anything but trash it's full of potential. These commercials carried an environmentalist message, but they were paid for by the oil and plastic companies eventually leading to fifteen million dollars a year industrywide ad campaign promoting plastic. So I asked Larry why why spend tens of millions of dollars telling people to recycle plastic when the new recycling plastic wasn't going to work? and. That's when he said it. The point of the whole thing if the public thinks so recycling is working. Then they're not going to be concerned about the environment and if they're not concerned about the environment. Though keep buying plastic it wasn't just Larry in lieu who said this I spoke to half a dozen top guys involved in the industry at the time who all said plan was unfolding and it went beyond at the industry funded recycling projects and local neighborhoods expensive sorting machines that didn't make any economic sense school recycling contests. All of this was done with great fanfare. except I decided to go track down almost a dozen of the industry's biggest projects like the one where they were going to recycle plastic and national parks or the one that was going to recycle all the plastic and school lunches in New York they all failed and disappeared quietly but there was one more part of this campaign, the final piece that did stick around. That recycling symbol with the numbers in the middle this symbol has. So. Much confusion about what is and is not recyclable in the plan to stamp it on every plastic item popped up a lot in the documents I learned of a quiet campaign to lobby almost forty states to require that every single plastic item have this symbol stamped on it. Even if there was no way to economically recycle it, I should note that some. Environmental is also supported. The symbol thinking would help, separate and sort plastic but the industry knew the truth the symbols were causing problems. Warm report told executives in July nineteen ninety-three that the symbol is being misused. It's creating quote unrealistic expectations about what plastic people can recycle. It's being used as a green marketing tool, but the executives decided to keep the symbol anyway. I did reach out to plastic industry folks and they said that the symbols were only meant to help sort plastic and that they were not intended to confuse people but the symbol in the ads in the projects, all of this basically convince people Larry says the idea that the vast majority of plastic can be recycled was sinking in. Say that. After a while the atmosphere seems to change I. Don't know whether it was because people thought that recycling has solved the problem. was that they were just so in love with plastic products that they were willing to overlook the environmental concerns that were were mounting up. It's been thirty years now since most of those plans have been put into place and the public's feelings about plastic have started to shift again, people are reading stories about oceans choked with plastic trash and trace amounts of this stuff inside our bodies, and once again, people are wanting to ban plastic and the survival of the oil companies is at stake.
Morning Edition
Saudi Aramco starts trading, gaining 10 percent
"Saudi Arabia state owned Aramco oil company started trading on the Saudi stock exchange today for the first time after its mass of twenty five point six billion dollar initial public offering that made it the biggest IPO in history the stock gained ten percent at the open the daily regulatory cap hit in the U. S. equivalent of nine dollars thirty nine cents at that price the company is valued at one point eight eight trillion dollars more than the top five oil companies including Exxon chevron and B. P.
WSJ What's News
In the Permian Basin, A Fight for Anadarko
"The battle between Chevron and Oxydental for Anadarko petroleum is a fight for more control over the lucrative Permian basin in west, Texas and New Mexico. Joining me now, the escape from Houston with more on what's at stake. Is Wall Street Journal reporter Rebecca Elliott, Rebecca, let's get up to speed on. These rival bids between Chevron and Occidental lots been happening in the past few weeks. Anadarko is now considering offers from both of them. Yeah. Exactly. So and Darko is currently considering bids from both accidents and Chevron Chevron made the initial deal with Anadarko earlier Nate brawl, but Occidental responded with a higher bid and has even changed the terms of that did as recently as yesterday. And so it's still in the hands of the the dark board at the moment. And let's talk about the Permian basin. This is an area where growth has really exploded. Added and a statistic you have in your piece production. They are now makes up about a third of the United States. Crude output, that's an enormous amount. What has fueled growth there? The Permian is so attractive for shale drillers because it is the least expensive place to produce oil by fracking in the US. And so as shale drilling has taken off producers have can afflict to the Permian as a really attractive place to be. And it is so prolific because it is both incredibly large spanning much of west, Texas and eastern New Mexico and also because it has these layers of oil bearing rock stacked on top of each other that allow producers to reach multiple layers from a single spot on the surface. So big oil companies are definitely a. Presence in the Permian basin including Chevron and Occidental, but they're also plenty of other smaller players there to how has that composition changing. So the smaller players were really the ones pioneered horizontal drilling and hydraulic fracturing in the Permian. They were the ones who experimented kind of signed tuned. How to produce oil there and more recently, the majors like Exxon, Chevron have stepped in and tried to be fought their positions, as you know, it's become more advantageous to have scale in the Permian. And it allows you to optimize a lot of the logistics associated with oil and gas production. If you are bigger have more continuous acreage. And so we're seeing really a push to to get bigger right now, and how would Chevron or Occidental acquiring Anadarko change the makeup of the Permian. Listen, even more so Anadarko 's acreage is kind of in the middle of both Occidental's and chevrons acreage. And so for either party acquiring the company would give them more of a foothold allow them to increase production, and they both say achieve the kinds of efficiencies that you get with being larger. That's Wall Street Journal reporter Rebecca Elliott joining us via Skype from Houston with more on the Permian basin. Rebecca, thank you so much. Thanks so much for having.