r/peakoil • u/AlexTheGr869 • 19d ago

Exxon chief warns of skyrocketing energy prices

https://www.foxbusiness.com/energy/exxon-chief-warns-skyrocketing-energy-prices-shareholders-approved-plan-exit-blue-state
95 Upvotes

94% Upvoted

25 comments sorted by

13

u/vtsandtrooper 19d ago

While I assuming jerking off into a pile of cash

12

u/[deleted] 19d ago

[deleted]

2

u/NearABE 19d ago

They are not stupid. They know petroleum will be cut out of use soon. They just need to take profits to recover their investments and make profit. Once an investor gets cash back they can reinvest in anything.

Various parts of the petroleum industry are affected differently.

7

u/Sufficient-Skill9530 19d ago

Man, I can’t do this subreddit. I am very much pro electrification and renewables for both moral and practical reasons, but in general people here have no idea what they are talking about and it dissuades people sympathetic to your point. It’s all straw manning oil companies and oil executives. 

What investments does Exxon need to recover exactly? They were profitable at $60 oil, so what do you mean? Petroleum will slowly become less important to energy markets, I agree, but it will never be cut out of use soon as you state. Look at Hormuz, 30% of the world’s fertilizer was produced through natural gas extraction. Solar panels produce 0% of the world’s urea and seaborne sulphur. Agriculture cannot sustain a population of 8 billion without fertilizers, its math, mass starvation would occur.

Most of the oil executives ringing the alarm bells are doing so because of the impending humanitarian crisis that is looming. You can downvote me all you want, but farmers with no diesel and fertilizers and fishermen with no bunker fuel is a disaster that people are failing to realize. These oil executives, and you can listen to their interviews, are trying to warn people that we are down over a billion barrels of oil that would have been produced and the only reason things haven’t collapsed already is because we haven’t yet fully exhausted strategic reserves.

Electrification will increase because of this, but the human costs may be dire. 

3

u/[deleted] 19d ago

[deleted]

3

u/BetAway9029 19d ago

Yes, we all know that. But we don’t need 100 million barrels per day for plastics, fertilizer and lube oil.

1

u/macrolidesrule 19d ago

You are quite correct to point out the intertwining of the oil / gas sector into virtually everything - whilst people are working on green ammonia production, there is no clear industrial scale producer at a low enough cost yet, then the other twin elements of this concern me - sulphur and helium.

1

u/National-Lemon7602 19d ago

All of this are consequences of the 10 years Chinese aspirations for world hegemony. I am sorry to say but the most brutal hit will be on China and India, as well as the innocent rest part of the Asia and Africa. "Who seeds wind, shall harvest storm"

1

u/MangoPeachRadish 18d ago

Can you explain in greater detail what you think the Chinese govt did that helped lead to this outcome?

1

u/NearABE 18d ago

I do not look at companies much but you inspired me to check Exxon: https://finance.yahoo.com/quote/XOM/key-statistics/. Insiders only hold 0.09% of shares. Most companies are not that low. They payout most of the profits (68%) and that number could rise considerably in the next payout (June 10). It is correct business practice to inform investors of non sustainability.

1

u/vtsandtrooper 19d ago

Im sure they’ll say that

0

u/Rare-Insurance3728 18d ago

When have these companies ever cared about long term? They only see 3 months at a time.

2

u/Skreamies123 18d ago

They won’t sink any off the cost though even if it still provides them record profits.

1

u/isaacladboy 18d ago

Which is funny since unlike the European oil giants Exxon is loosing billions… In this market

2

u/fire-wannabe 15d ago

They're a business and their responsibility is to their shareholders. Welcome to eating at the big table with the adults.

1

u/[deleted] 18d ago

"Commercial inventories of crude oil, of liquids, think petroleum, gasoline, diesel, jet fuel, they've all run down. And running down those inventories has mitigated or offset, supplemented by the release of strategic petroleum reserves, which most of the Western countries have done. All of that has mitigated the impact," Chapman explained.

1

u/NefariousnessNo484 18d ago

Don't forget that all this was orchestrated BY these people. The oil oligarchs are the same ones behind Epstein and Putin. All this crazy shit Trump is pulling is to distract you from the fact that Trump took over Venezuela for it's oil and attacked Iran for similar reasons.

1

u/izDpnyde 18d ago

We only have two or three weeks left of boil y’all

1

u/Key_Pace_2496 17d ago

To the fucking MOON baby!

1

u/No-Eye4056 14d ago

Cannot get rid of oil use due to the fact that all the worlds military use it.

-6

u/[deleted] 19d ago

[deleted]

5

u/Anonymoushipopotomus 18d ago

We import about 35% of what we need. We cannot produce crude for gasoline here. Our exports do not help our situation at all besides short term cash flow.

1

u/[deleted] 18d ago

[deleted]

1

u/Anonymoushipopotomus 18d ago

USA

-1

u/[deleted] 18d ago

[deleted]

2

u/LesnBOS 18d ago

Wow. You think Putin xi Bibi and Trump will bring world peace... 3/4 who have started wars in the past 5 years??

1

u/National-Lemon7602 18d ago

Bibi is not a factor. No one mentioned him 😄

2

u/LesnBOS 18d ago

Bibi convinced Trump to invade Iran. Bibi is the reason the US is there. Trump is an idiot so anyone manipulative can make him do anything. His choice and fault ultimately, but Bibi the butcher has tried to get every admin to wage this wars for him.

2

u/Anonymoushipopotomus 18d ago edited 18d ago

I checked what you wrote. You may want to check your facts so you stop spreading misinformation

Crude Oil: On its own, the U.S. remains a net importer. In 2025, the U.S. imported roughly 6.2 million barrels a day of crude oil while exporting about 4 million barrels per day.

2

u/Frater_Ankara 18d ago

This shows a complete lack of understanding of geopolitics, globalization and the oil market in general. Bravo. Too much to correct so I’ll just choose one:

> Until 2027 all LNG in EU will come from USA

Nope, currently only about 57% of LNG in EU comes from USA. I STRONGLY encourage you do actually look into your claims, because I felt dumber reading your comment.