The two are not mutually exclusive. The cash-burning to grow production at any cost is a fact and so is the ESG pressure, including from the Democrats. Now, from a business owner's perspective, if I see a party with an anti-my business agenda is about to win the elections, I would make contingency plans and these would likely include cur…
The two are not mutually exclusive. The cash-burning to grow production at any cost is a fact and so is the ESG pressure, including from the Democrats. Now, from a business owner's perspective, if I see a party with an anti-my business agenda is about to win the elections, I would make contingency plans and these would likely include curbing my activity. I'm sure you've seen Occidental's Hollub's statement about "If you did not plan for growth, you are not going to be able to achieve growth today," at CERAWeek. Of course, you could interpret it in more than one way but I would argue part of the interpretation would need to take into account the Biden administration's energy transition plans away from oil.
The two are not mutually exclusive. The cash-burning to grow production at any cost is a fact and so is the ESG pressure, including from the Democrats. Now, from a business owner's perspective, if I see a party with an anti-my business agenda is about to win the elections, I would make contingency plans and these would likely include curbing my activity. I'm sure you've seen Occidental's Hollub's statement about "If you did not plan for growth, you are not going to be able to achieve growth today," at CERAWeek. Of course, you could interpret it in more than one way but I would argue part of the interpretation would need to take into account the Biden administration's energy transition plans away from oil.