This was from just last week. Energy Strong already sending around a letter that can go Polis. Who knows if it'll do any good, probably not, but filled it out anyways.

They made a new cogcc (the oil and gas regulatory commission) with a modified mission to foster public safety. Stuck like 6 anti oil and gas people and 1 pro oil and gas person on the commission and charged them to fix everything. It has been known that shot like this would be coming down the pipeline as soon as that got pushed through at midnight.

I was posting about it a long time ago in this thread.

Anyone see the stuff BP floated out there?

What a disaster of a company.

Nothing like floating peak oil followed up by your week long strategy pivot into areas where you have previously erased enormous amounts of capital and plan to "win" with culture at a place like B

I feel for all the equity holders as the most arrogant oil major investing into low single digit projects with minimal institutional knowledge will be a sight.

As a holder of more traditional oil stocks this is a great day.

BP said peak oil demand was in 2019. Huh? The virus has really messed with people. Once it calms down, demand will bounce back, albeit not like before but still strong. When prices reach $50-$60 BP will get back in the fold with both feet. I know some managers there and they all think and say the same thing. They really think this CEO is dumber than a box of rocks.

Not too sure on the BP front. I think they are really going to blow up a ton of shareholder value with this program. A lot to walk back at this point.

Lester Freamon said:

---

That new VP for Strategy and ESG, the ex McKinsey chick, is a total nut case. Watched her video on their new strategy and I felt like I was watching the O&G edition of Silicon Valley.

Exactly what you would expect from ex McKinsey rolling out ESG initiatives as "strategy" at a major

---

that was such a horrific joke. she will bring no value to that company but get paid a boatload.

Cyp0111 said:

---

Not too sure on the BP front. I think they are really going to blow up a ton of shareholder value with this program. A lot to walk back at this point.

---

They will, but trust me, when oil bounces back they'll act like they've always been there. It's great to diversify, but you can't kill your cash cow in doing so. They and She'll, are too concerned about public image, etc. rather than a plan on how to deal with this short/long term.

Furlock Bones said:

---

Lester Freamon said:

---

That new VP for Strategy and ESG, the ex McKinsey chick, is a total nut case. Watched her video on their new strategy and I felt like I was watching the O&G edition of Silicon Valley.

Exactly what you would expect from ex McKinsey rolling out ESG initiatives as "strategy" at a major

---

that was such a horrific joke. she will bring no value to that company but get paid a boatload.

---

Do you have a link to the video?

Spaceship said:

---

Furlock Bones said:

---

Lester Freamon said:

---

That new VP for Strategy and ESG, the ex McKinsey chick, is a total nut case. Watched her video on their new strategy and I felt like I was watching the O&G edition of Silicon Valley.

Exactly what you would expect from ex McKinsey rolling out ESG initiatives as "strategy" at a major

---

that was such a horrific joke. she will bring no value to that company but get paid a boatload.

---

Do you have a link to the video?

---

Mckinsey is where capital goes to die. Again, this is all good news for oil and gas.

Shareholder value focus was obviously thrown out the window years ago

That was a whole lot of nothing in the highlights. Guessing she said something stupid in the actual presentation? That said, no idea why anyone would invest in BP when they've been consistently the worst major by a mile for a decade

Wrong thread....Go RIG!

There wasn't a single bit of useful information in that BP trainwreck. That speech was a lot like how I dance. String together a bunch of words or steps that seem to get a reaction, but deep down you don't know why. As long as the beat doesn't change you are ok, but as soon as it does you are screwed.

Not sure if any of you caught T Boone's Estate Sale these last few days. He had some nice sheet.

Lester Freamon said:

---

That's the exact point. It's like she fit every MBB and ESG buzzword into a two minute segment without actually saying anything. Sheer lunacy.

---

I've worked with managers like this everywhere. They say a whole lot, yet still say nothing.

A lot sure has changed since them being the Anglo-Persian Oil Company.

i have a friend at BP. i asked him what he's planning on doing, and he's decided to jump on the ESG train. he said its infected the company so much he figures its the best way to stay on.

Furlock Bones said:

---

i have a friend at BP. i asked him what he's planning on doing, and he's decided to jump on the ESG train. he said its infected the company so much he figures its the best way to stay on.

---

Certainly their hail mary after decades of mismanagement.

I think people here are underestimating the pressure BP and Shell face in their home countries by government authorities, investors, and interest groups to make these moves. They are doing it out of necessity and self-preservation, not altruism.

The virtue signaling is part of that.

HotardAg07 said:

---

I think people here are underestimating the pressure BP and Shell face in their home countries by government authorities, investors, and interest groups to make these moves. They are doing it out of necessity and self-preservation, not altruism.

The virtue signaling is part of that.

---

oh i am well aware.

Probably won't last long, but as of my typing this WTI just cracked $40 (barely).

What's driving this price rally?

Decent crude inventory draw? Weakening dollar? Both?

Dreigh said:

---

Probably won't last long, but as of my typing this WTI just cracked $40 (barely).

What's driving this price rally?

Decent crude inventory draw? Weakening dollar? Both?

---

I'm sure it is something else, but guessing the Fed is also warming up the money machine in preparation for the conference today.

Dreigh said:

---

Probably won't last long, but as of my typing this WTI just cracked $40 (barely).

What's driving this price rally?

Decent crude inventory draw? Weakening dollar? Both?

---

a hurricane and unexpected draw down of inventory

https://www.marketwatch.com/story/oil-prices-jump-as-inventories-fall-hurricane-curtails-production-2020-09-16

Ahh yes, the hurricane. Somehow let that factor slip my mind.

"The inventory numbers are significant - refineries seemed to jump back to activity, gasoline demand jumped back so that's definitely positive," said Phil Flynn, senior analyst at Price Futures Group in Chicago. "It seems that we're back on the track of the drawdown on supplies."

Just before this, it was demand worries because of the pandemic, which has been constant since April/May. Face it, demand here in the states has been increasing, so all this crap about "demand and the pandemic" are slightly over played at this point. With the hurricane, production of 2-4 million barrels has been shut in, which is a good amount since last week's draw was 4.4 million, down to 496 million which is at the lowest point since April. This is where prices should be in my opinion based on all over information.

Going to be choppy for a while.

Cyp0111 said:

---

Going to be choppy for a while.

---

It shouldn't be if you examine all the information. Pricing should be between $40-$45 at this point, definitely not lower.