I haven’t been on the PLS threads for a few days and can’t be...

I haven’t been on the PLS threads for a few days and can’t be bothered to read any name calling before finding out if the discussion has moved to recent newsworthy items…. So forgive me if this article has been seen and shared already. I thought it worth discussing. It comes from an AFR article about BHP doing the backflip.

BHP has been in the news heavily the last few days. For those watching closely, today’s announcement will go down as a significant day in history. Not 12 months have passed since our countries largest miner said they would categorically not spin off or divest out of oil and gas assets. They said they saw “attractive returns for at least the next ten years” in their petroleum division.

Now today the ceo is saying they are rapidly orientating their portfolio to allow cash allocations to more “long term multi decade plays that are positively leveraged to mega-trends”. Now read that again. That’s some strong language about where organic growth lies in the next few decades for energy companies and where LONG term investment planning is being made at a significantly sized company like BHP.

what do others think? Thoughts? (Constructive discussion about whether they’re bluffing here or the cynics here think they’re pandering to the net zero activists)