May 26, 2021 | Daily JAM, Mid Term |
Yesterday, May 26, a Dutch court ordered Royal Dutch Shell (RDS) to cut its carbon emissions by 45% by 2030 compared with 2019 levels in a case brought by climate activist groups. The Hague District Court ruled that the Anglo-Dutch energy company has a duty to care about reducing greenhouse gas emissions and that its current reduction plans were not concrete enough. If that language sounds like the court is declaring a company has a fiduciary duty (to future generations? to current populations? to the earth?) to reduce emissions, you’re not mistaken.
May 26, 2021 | Daily JAM |
On Wednesday, May 26, ExxonMobil shareholders voted to install at least two new independent directors to the company’s board. (The contest for another two seats remained, as they say, too close to call.) The results are a resounding defeat for CEO Darren Woods and a strong vote of shareholders’ unhappiness with the way the company had been addressing climate change. And, let’s not forget, the company’s lagging financial performance. ExxonMobil shares have lost roughly $125 billion in market capitalization during CEO’s Woods four-and-a-half years at the helm.
May 25, 2021 | Daily JAM, EQNR, Jubak Picks, Stock Alerts |
Oil prices have bounced back big time and with them the prices on oil stocks. I still think the long-term trend is against oil producers as efforts to combat global warming lead to lower consumption of fossil fuels. And I’d prefer not to own any oil and natural gas shares–even in as “progressive” a company as Equinor. I’m going to take advantage of the rally in oil prices to sell these shares out of my Jubak Picks Portfolio with a small 0.9% gain since I established that position in May 2012.
May 23, 2021 | Daily JAM, Morning Briefing |
ExxonMobil’s (XOM) May 26 annual meeting has turned into a referendum on the global oil industry and climate change. At issue is a key question for the industry and the global climate: How much of the oil that’s been discovered to date but not pumped so far will stay in the ground?
January 15, 2021 | Daily JAM, Stock Alerts, XOM |
Shares of ExxonMobil (XOM) closed down 4.81% today on a Wall Street Journal report that the Securities & Exchange Commission was investigating a whistleblower complaint alleging that the company overvalued assets in the Permian Basin oil shale geology. The whistleblower complaint alleges that during a 2019 internal assessment workers were forced to use unrealistic assumptions about how quickly wells could be drilled to reach a higher valuation.
June 30, 2020 | Daily JAM, Morning Briefing |
It's a measure of how dire things are in the oil sector that Royal Dutch Shell (RDS-A) has announced a write down of between $15 billion and $22 billion for the second quarter. The write down is larger than the $17.5 billion write down that BP (BP) took in June or the...
April 17, 2020 | Daily JAM, Dip-O-Meter, Short Term, WST |
In my recent post "What do you do when the market is insane and you're not?" I argued that one of the dangers in a very volatile market with strong--and temporarily profitable--short-term trends is that we'll give in to the pressure to do something--and do something...
April 13, 2020 | Daily JAM |
As of 1 p.m. New York time the Standard & Poor's 500 is down 1.88% and the Dow Jones Industrial Average is off 2.14%. The NASDSQ Composite is lower by 0.79% and the Russell 2000 small cap index has tumbled 2.80%. The iShares MSCI Emerging Markets ETF (EEM) has...
October 28, 2019 | Daily JAM, Morning Briefing, Short Term, Volatility, You Might Have Missed |
The oil supermajors--ExxonMobil (XOM), Chevron (CVX),Royal Dutch Shell (RDS), Total (TOT) and BP (BP)--are expected to show a 42% year over year average plummet in third quarter earnings when they report earnings this week. That's an even bigger slump than the 18%...
October 15, 2019 | Daily JAM, PE, Stock Alerts |
Low oil prices mean low oil stock share prices mean the ability of mid-range producers to acquire smaller producers in the low cost, prolific Permian Basin is increasingly limited. Take Parley Energy's (PE) deal to acquire Jagged Peak Energy (JAG). At the Friday price...
June 13, 2019 | Daily JAM, PE, Stock Alerts |
Back on April 17, I made Parsley Energy (PE) my first disruption in the oil sector pick in my Special Report on Disrupted Sectors. I didn't actually post that pick to the portfolio, however, and this post, excerpted from the Special Report, is a fix for that error....
May 21, 2019 | Daily JAM, PXD, Stock Alerts, You Might Have Missed |
Today, May 21, Pioneer Natural Resources (PXD) announced that it would lay off 230 workers at its headquarters and in Permian Basin offices. Added to the 300 employees who took buyouts earlier this year, the total cuts amount to about 20% of the company's workforce....
