BlackRock says coal is dead as it eyes renewable power splurge, page-34

First 34 Last

Share
Profile

Follow
ThinkBillions

2,976 Posts.

466

28/05/17

21:42

Post #: 24957525
Share

Originally posted by M92 ↑

I work for a supermajor in oil and gas and I can assure you funds have been shifting out of oil assets, into gas and now into renewables (in that order) over the past few years by the company I work for. I am a drilling supervisor on rigs and an engineer, so this shift is actually determintal to my job prospects and I feel it first hand. Our division of ~45 in December 2015 is curently about 12. Much the same situation at peer companies.

I don't deny that oil will be around, but oil projects are simply not even at break even at these levels. There has been a shift towards gas projects (which vary in terms of profitability), and only the absolute best get picked. It makes absolute no business sense to invest in these assets right now because the returns are simply non existent. I have heard this first hand from the highest level of management.

I suggest you look at the new 'New Energies' division of an oil and gas company to see that they are divesting from traditional oil and gas right now...Other majors have started following suit. Also check out what Saudi Aramco are doing.

Three colleagues also placed a deposit on a Tesla 3 the first week. A little telling huh?

M92

Expand

Love Tesla, I own one and is kept at my place in the US. I have another one on order for my son.

GXY Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

Reply

Top Stories

I88

Large fault structure and uranium anomalies picked up by Infini at Newfoundland play

PH2

Pure Hydrogen inks MOU for 5 hydrogen buses in Saigon – days after Twiggy's FFI reeled back in

HBF to throw 10% vote behind NDC BidCo's buyout of Pacific Smiles Group

29M

High-grade copper results provide some relief to 29Metals after earlier mine shutdown

Biden's exit bakes in a Kamala Harris ballot while markets expect Trump to win. How could equities fare this week?

There are more pages in this discussion • 29 more messages in this thread...

First 34 Last

Add GXY (ASX) to my watchlist

BlackRock says coal is dead as it eyes renewable power splurge, page-34

Top Stories

Large fault structure and uranium anomalies picked up by Infini at Newfoundland play

Pure Hydrogen inks MOU for 5 hydrogen buses in Saigon – days after Twiggy's FFI reeled back in

HBF to throw 10% vote behind NDC BidCo's buyout of Pacific Smiles Group

High-grade copper results provide some relief to 29Metals after earlier mine shutdown

Biden's exit bakes in a Kamala Harris ballot while markets expect Trump to win. How could equities fare this week?

Featured News