What Big Oil Can Learn From Typewriters

[CMOP + 227]

Typewriters evolved into the new world of word processors. Can oil companies transform themselves, evolving their processes and products into the new world of competitive energy systems, lower commodity prices, and lower carbon emissions?

https://oilprice.com/Energy/Energy-General/What-Big-Oil-Can-Learn-From-Typewriters.html

[BeamMeUp + 11]

I read somewhere recently that the oil industry sees more profitability in down markets, rather than at higher oil prices. We saw this in the last downturn, but people forget this is what has happened in previous down markets as well.

But you're right, now there are more factors--the shift toward green being a big one. Will the strain be too much? I guess we'll find out.

[CMOP + 227]

23 hours ago, BeamMeUp said:

I read somewhere recently that the oil industry sees more profitability in down markets, rather than at higher oil prices. We saw this in the last downturn, but people forget this is what has happened in previous down markets as well.

But you're right, now there are more factors--the shift toward green being a big one. Will the strain be too much? I guess we'll find out.

Definitely they will need to adapt. Saudi Arabia is a great example of diversifying and staying ahead of the curve. We'll see if the rest follow suite. I wonder if we'll see any blockbuster / netflix like events happen in the future.  

[Marina Schwarz + 1,576]

The UAE is diversified, SA is only trying right now. Nothing is certain. Big Oil is doing very well in that respect, especially Shell. They have to--there isn't really any other viable choice if they want to survive in the long term.