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(CNN)   The oil industry is in crisis. Behold all of the farks in this well have run dry   (cnn.com) divider line
    More: Obvious  
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706 clicks; posted to Business » on 20 Oct 2020 at 10:05 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



17 Comments     (+0 »)
 
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2020-10-20 10:20:44 AM  
If only Senator Amidala were here.
 
2020-10-20 10:26:44 AM  
So Conoco is employing the "Buy Mortimer, Buy." strategy then?

/ let us wait and see how that works out for them.
 
2020-10-20 10:29:58 AM  
About every six to ten years for as long as I can remember.

The hate boner people have for the oil industry is remarkable
 
2020-10-20 10:34:33 AM  

Schlubbe: About every six to ten years for as long as I can remember.

The hate boner people have for the oil industry is remarkable


Because it is farking up the environment. And that pesky inconvenient environment is much more important than any oil sector jobs.
 
2020-10-20 10:40:20 AM  
Can we gather around to stab them to death?
 
Juc
2020-10-20 10:41:24 AM  
Ah well, better for the world as a whole but really bad for my local area.
All the wishful thinking in the world doesn't change reality though.
 
2020-10-20 10:50:25 AM  

NuclearPenguins: Schlubbe: About every six to ten years for as long as I can remember.

The hate boner people have for the oil industry is remarkable

Because it is farking up the environment. And that pesky inconvenient environment is much more important than any oil sector jobs.


Oil sector workers provide energy to a world that needs energy. Economic recovery will demand easy access to inexpensive energy. Alternative and cleaner energy is coming, and will some day supplant fossil fuels, and that's great. I welcome it.

Oil workers and companies make an easy target to assuage your guilt, and hating on them surely shows you're woke. But oil workers aren't burning the fossil fuels they help to produce.

You are.
 
2020-10-20 10:57:52 AM  
Interesting - oil is usually good at PREVENTING dryness.

// [Ed. note: make an "oil hits the anus" joke here]
 
2020-10-20 10:58:45 AM  
Everybody says "Yeah, they've been threatened before" but this time is different.  We are at or near peak oil in the world due mainly to the widespread adoption of electric cars.  Most oil is used in transportation.  Every year going forward, certainly from 2025, we'll need less of it.  And populations are pretty stagnant across the developed world.  A population surge isn't going to happen, the thing that has always driven new demand is gone.
 
2020-10-20 11:13:14 AM  
They're in such bad shape that retail gasoline prices are right where they always are.
 
2020-10-20 11:21:35 AM  
GAZE UPON MY FIELDS OF FARKS.

LO, SEE THAT THEY ARE BARREN.

 
2020-10-20 11:46:47 AM  
media1.tenor.comView Full Size
 
2020-10-20 11:54:28 AM  

edmo: They're in such bad shape that retail gasoline prices are right where they always are.


Under 2 bucks is not where they have always been.
 
2020-10-20 12:11:02 PM  

Schlubbe: NuclearPenguins: Schlubbe: About every six to ten years for as long as I can remember.

The hate boner people have for the oil industry is remarkable

Because it is farking up the environment. And that pesky inconvenient environment is much more important than any oil sector jobs.

Oil sector workers provide energy to a world that needs energy. Economic recovery will demand easy access to inexpensive energy. Alternative and cleaner energy is coming, and will some day supplant fossil fuels, and that's great. I welcome it.

Oil workers and companies make an easy target to assuage your guilt, and hating on them surely shows you're woke. But oil workers aren't burning the fossil fuels they help to produce.

You are.


If oil as inexpensive energy were the boon you claim it to be, the oil companies could be open and transparent about the consequences associated with the industry.  Instead they covered up global warming, mislead (at best) the public regarding plastics recycling, and rely on PR advertising over fixing themselves.

The truth is that the oil industry is only inexpensive energy if you look short term.  Long term, it's going to cost more than I can comprehend.
 
2020-10-20 1:59:16 PM  

Psychohazard: If oil as inexpensive energy were the boon you claim it to be, the oil companies could be open and transparent about the consequences associated with the industry. Instead they covered up global warming, mislead (at best) the public regarding plastics recycling, and rely on PR advertising over fixing themselves.

I mean, nothing (thus far) comes close to their conspiracy to cover up the effects of tetraethyllead.

They literally were going to kill everyone.  Everyone.  The final death count comes down to how much you attribute the crime wave of the 1970s and 1980s to lead poisoning, but that was after they'd been forced to stop.  We've known lead was bad for you since Rome's heyday, and they were going to go right on spewing lead into the air, more and more of it in fact, until the end of the world itself.  It took a historical upset by a few scientists to get Congress to ban the substance, and it was a hellaciously hard-fought victory for, well, life on earth.  Replay that fight today and I've no confidence in the outcome.

The herpa derpy death cult Republican talking point about capitalism vs. socialism that gets the most play is the horrific track record of totalitarian regimes of USSR and PRC that killed tens of millions.  But the reason why capitalism doesn't have a death count of hundreds of millions is because of the very direct government intervention neoliberals decry as bad for business:  Congress realized that would've been the eventual complete annihilation of the entire U.S. population and made them stop.  Big Oil did not give a shiat.  And now, with global warming, they're doing it all over again.  Unlike lead, the future is more uncertain, but the upper end of the pile of bodies is potentially well into the billions.

So, yeah, they kind of have a hard-earned reputation for being untrustworthy.
 
2020-10-20 2:05:19 PM  

Schlubbe: NuclearPenguins: Schlubbe: About every six to ten years for as long as I can remember.

The hate boner people have for the oil industry is remarkable

Because it is farking up the environment. And that pesky inconvenient environment is much more important than any oil sector jobs.

Oil sector workers provide energy to a world that needs energy. Economic recovery will demand easy access to inexpensive energy. Alternative and cleaner energy is coming, and will some day supplant fossil fuels, and that's great. I welcome it.

Oil workers and companies make an easy target to assuage your guilt, and hating on them surely shows you're woke. But oil workers aren't burning the fossil fuels they help to produce.

You are.


I don't have anything mean to say about oil workers.
But at some point, they have to accept that their industry needs to shrink considerably. We will always want to mine and utilize some petrochemical products - but digging it up in mass quantities to burn for energy, like cavemen, is not in our future.
So there will BE a petroleum industry - but it will be a lot smaller than it is now, and employ far fewer people.
And there is nothing I can do about that except wish them all the best of luck in their future endeavors.
See? I'm a kindly sort of fellow.
 
2020-10-21 9:45:36 AM  
ConocoPhillips tends to be very conservative in most of their moves; if they are doubling-down on acquisitions at a time long past when they were working hard on contraction and divestiture (a mere 8 years ago) this means that they know something that you all do not. Everyone here in the Permian knows the truth that in general, Big Oil is over; Midland has absolutely contracted over the past six months alone, and yet new housing construction is on the rise, as is new reinvestment in existing properties. Someone out here thinks that this was not the end, and more than one someone at that. Well connected people aren't pulling the plug just yet.

All petrol companies work hard on acquisitions and consolidation of the smaller competitors after a major downturn in the biz, but this suggests that maybe they're ready to start mass production again in the near future... like say for a war.

Keep that in mind if Trump wins in November.
 
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