While the future definitely looks greener, Exxon Mobil and Chevron shouldn’t start building solar or wind farms. Spencerjakab explains why. WSJWhatsNow
The most promising areas for the U.S. majors to invest are those where they have transferable skills.as well as petroleum; liquefied fuels can be natural gas or hydrogen; and captured carbon dioxide can be used for enhanced oil recovery or sequestered. The European players are investing here too.
More encouragingly, commodity prices and cash flows should hold up in the near term, supported both by the lower petroleum investments and Saudi Arabia’s determination. That should give the supermajors cash to pay for punchy transition strategies.
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