You can’t completely write off the report, some of the points...

You can’t completely write off the report, some of the points they make (while blindingly obvious) are accurate. For example, a big share buyback is a much lower-risk value accretive approach for shareholder returns. However it ignores the fact that investors may discount a stock multiple if they don’t see a growth pathway forward in tandem with shareholder returns.

But yes, let’s not ignore the ACCR’s clear agenda: they’re promoting capital returns, and not capital spend, because they want to stymie future investment in the O&G sector - evidently they are looking forward to living in the economic/literal dark.