An interesting article Steve. What’s clear to me is that less skilled operators are going to the wall at the moment. I’m not convinced yet that Exxon is going the way of Kodak and will in turn have a rather nasty Kodak moment

I’m reminded that Exxon his been on the leading front of global warming for decades. I wonder about the flexibility of a corporate culture so deeply invested in denialism having the resilience to manage their way through the downward trajectory of the demand curve. There is a great deal of disagreement about when peak oil will be achieved or whether that point has already arrived

Kodak got caught with its pants down as their projection for the future demand of film processing was fatally flawed and digital photography crushed their expectations. Will that be the same outcome for Exxon as the improvement of battery technology makes electric based transportation more cost effective than gas based cars? It’s not a question of if but when now. Technology adoption has a habit of being adopted more quickly than expected. My money is on most oil companies going bust as demand shrinks in the face of a dreaded technology S curve