RoshawnMarkwees
Assimilationist
Who you talking to?I guess you have NO smarts when it comes to running a business!
Tell me if the president of the USA halts all leasing of oil land on federal property
To date, Biden is the only president in modern history not to have held a single oil and gas lease sale on federal lands despite clear direction from Congress to do so quarterly.
Biden’s Radical, Anti-Fossil Fuel Energy Policy Costs Americans Dearly
There’s a popular genre of fiction books and TV programs that explore what the world might have been like if history had taken a different twist. What if Julius Caesar never crossed the Rubicon? What if Napoleon won at Waterloo? What if the Allies lost the Great War? And what might gasoline...www.heritage.org
AFTER he has told people he is putting the oil i.e. fossil fuel industry out of business AND people laughed at it what would YOU do? Nothing?
The following oil companies experts weren't laughing!
"Oil companies are having a harder time finding finance as questions about climate and future oil demand increase. ." Increasing questions around the future of oil demand are making it harder and harder for oil companies to secure financing from banks and other large investors for drilling projects.
As governments move to reduce greenhouse gas emissions through the expansion of electric vehicles, some financial institutions are becoming wary about investing in oil projects that take years to develop when demand could be substantially lower once production begins.
As a result, the cost of securing capital through loans and selling stock is expected to double for oil companies in the years ahead, making projects more expensive and less desirable to investors, said Jim Burkhard, head of oil markets research at S&P Global.
The investment threshold for investing in new oil is higher today, he said. much greater uncertainty about the future of oil demand. You have all these markets saying we don't want your oil at some point in the future. Driving the trend are asset management firms and investments banks less inclined to put money into an industry that has not only struggled financially since the oil price crash of 2014 but is also in conflict with internal mandates to reduce the carbon footprints of the companies in which they invest.
On HoustonChronicle.com:
But investment banks remain reluctant to issue long-term debt to oil companies, a trend that began even before the loss of demand that came with the COVID-19 pandemic, said Dean Foreman, chief economist at the trade group American Petroleum Institute.
Some banks will not lend into the sector, he said. 2019 fair to say the availability of capital continues to be one of our key issues.
The Bank Policy Institute, a trade group, did not respond to a request for comment.
Banks such as JP Morgan and Goldman Sachs have come under increasing pressure from investors to prove the sustainability of their investment portfolio, a trend known as environmental, social, governance investing.
Earlier this year, Bank of America announced that it would reduce the carbon intensity of its energy investments between 29 and 42 percent, depending on whether they're counting the full range of a company's emissions through products like gasoline or just their operations and supply chains.
Pitching financial institutions on putting money into oil and gas drilling projects has become an uphill battle, said Judd Walker, CEO of EnerVest, a privately held company in Houston.
While energy forecasts might show healthy oil demand for years to come, it does little to assuage analysis that even if there is money to be made now climate change will force down oil demand in the long term.
Oil companies struggle to secure financing, as banks feel climate pressure
Increasing questions around the future of oil demand are making it harder for oil companies to secure financing from banks and other large investors for drilling projects.www.houstonchronicle.com
Again obviously you aren't a business person so it's beyond your comprehension that if it's harder to get financing, it makes the cost of doing business more.... obviously you raise the prices of your goods or services, i.e. GAS PRICES up 44% UNDER BIDEN!!!
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