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alpet

77 Posts.

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04/06/21

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Post #: 53636773
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Originally posted by ClockworkSmurf: ↑

The wows keep coming- Engine no.1 was successful in taking a third seat ( highly contested and therefore took longer to be decided upon ), on the Board of Exxon.

An activist shareholder with 0.02% of the register just took 25% of the seats on the Board of an energy super major.

To reiterate upon my initial post that tells us that they have a lot of other shareholders supporting them.

To give the context that we can all care about and reiterate another point- there is US$2,000,000,000 deployed by the oil and gas super majors every single week.

Two billion every week. That’s more than we need being spent every single week.

1 in every 3 seats is now held by a climate activist group.

https://www.houstonpublicmedia.org/articles/news/energy-environment/2021/06/03/399699/challengers-unseat-3rd-exxon-board-member-in-climate-fight/

I see it as first comes an attempt to cut emissions via efficiencies then comes the realisation that pivoting to renewable generation and storage of energy is the only real way forward as that is what the consumer ultimately demands.

The customer is always right & we are at the start of the race for the virtue crown- which energy supplier or nation can be the greenest?

Norway comes to mind immediately. That’s a mighty big sovereign fund in what appears to be a very environmentally virtuous society.... which is actually built the exporting of oil. Better hope Greta and the gang don’t find out!

I believe this article and many energy sector related articles are relevant to the thread as they will ultimately affect how funding is deployed.

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Hate to break it to you, but Greta is Swedish, not Norwegian.

ARL Price at posting: 51.5¢ Sentiment: Buy Disclosure: Held
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Pertinent market/industry news/articles, page-3580

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