A recent article in the Houston Chronicle is entitled “Big Oil Goes Looking for a Career Change“. And earlier this week we had their article “Energy Transition Could Spur $111 Billion in Oil Divestments.” For years we have heard about how “big oil” is shifting to renewables. Most, if not all, of the supermajors have made some announcement about an investment they are making in solar, or wind, or some other renewable-of-the-month. And then the journalists write with glee about the demise of fossil fuels (you would think the Houston Chronicle would be a little more friendly towards oil & gas!).
The supermajors might just be pandering to investors, aiming to improve public relations, or trying to increase their ESG rating. Or, they might be seriously looking to exit fossil fuels. I just wish they would decide what they want to be when they grow up…and then be that without apologizing.
Regardless, until they figure out how to power my truck and my lawnmower with nuclear energy, fossil fuels are not going away. And we don’t want it to go away. Nowhere else in the world can they handle unconventional exploration as well as we can in the U.S. and Canada. We do it more efficiently and cleaner than anyone else.
So go ahead, supermajors, chase alternative energy projects. Leave oil & gas production to those companies who aren’t embarrassed to do it. Leave the onshore production to the smaller players who are happy to be there. We’re happy to provide great paying jobs and royalties to our friends and families. We’re happy to keep energy costs down for all of our fellow citizens. And we’re happy to keep our dollars from going to foreign operators who do not always share our values or interests.
Your heart really needs to be in any job if you want to do it well.