Sustainability, Energy Transition, ESG | Weekly Thematic

Big Oil’s Big Problem – Hard To Find A Favorable Scenario
June 2, 2021
Companies Mentioned:
ExxonMobil, Shell, bp, Chevron, Total, Dow, Purecycle Tehnologies, LyondellBasell, NOVA Chemical, Closed Loop Partners, Venture Global LNG, Engine No. 1
Commodities Mentioned:
Subjects Covered:
Recycling, Renewables, Carbon Capture, Emissions, New Energy, The Hydrogen Economy, ESG Investing

C-MACC Weekly “CRETER” (Climate etc.)

Big Oil’s Big Problem – Hard To Find A Favorable Scenario

  • Big oil is in trouble, and it is a challenge to find a compelling reason to invest in this market currently – we view industry consolidation as inevitable. 
  • IEA sees fossil fuel spend rising in 2021 – we agree, but see cuts before 2025.   
  • We think some of the current hype surrounding recycling is price-driven. In our view, some announced growth plans will be uneconomic when prices normalize.
  • Other recycling initiatives continue – many are focused on needed technology.
  • Domestic inflation and infrastructure are risks to US offshore wind ambitions.

See PDF below for all charts 

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