Exxon/Mobil under fire!

[Dash man]

All my XOM shares used to be Mobil Oil shares. I don't think I'll sell them anytime soon. Trying to figure out the cost basis would hurt my brain.


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[Mulligan]

All my XOM shares used to be Mobil Oil shares. I don't think I'll sell them anytime soon. Trying to figure out the cost basis would hurt my brain.


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I had a small amount of XOM maybe $15,000, way back in the day premerger. I had it through a DRIP. I remember just giving up and guessing with an eyeball calculation. They never challenged me on it. Probably because it was a small amount.


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[explanade]

I don't own the stock though probably the funds and ETFs I hold probably do.

Most of the states are run by the GOP, particularly the Gulf states. So you don't have to worry about other state AGs going after the oil companies.

Oil industry can die off as far as I'm concerned. Especially when they're funding the denial industry.

 

[Dash man]

I don't own the stock though probably the funds and ETFs I hold probably do.

Most of the states are run by the GOP, particularly the Gulf states. So you don't have to worry about other state AGs going after the oil companies.

Oil industry can die off as far as I'm concerned. Especially when they're funding the denial industry.

Looks like you're getting a bit off base here.


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[marko]

Looks like you're getting a bit off base here.


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+1. I just like having my lights stay on. How it happens, I don't care. (plus there's that 3% XOM dividend)

 

[aja8888]

+1. I just like having my lights stay on. How it happens, I don't care. (plus there's that 3% XOM dividend)

Agreed, it would be a pretty bleak existence without processed hydrocarbons!

A couple of the talking heads on CNBC stated the large integrated energy companies are probably overvalued at this point. Could be that noise is taking their stock prices down slowly.

 

[rodi]

Given the fact that Exxon appears to have anticipated "climate change" as a risk factor in their artic drilling, I'm not sure if using the quotes around "climate change" is appropriate.

An LA times article discusses how they researched and used the data to consider climate change affects on their artic drilling.
http://graphics.latimes.com/exxon-arctic/

The gulf between Exxon’s internal and external approach to climate change from the 1980s through the early 2000s was evident in a review of hundreds of internal documents, decades of peer-reviewed published material and dozens of interviews conducted by Columbia University’s Energy & Environmental Reporting Project and the Los Angeles Times.

Documents were obtained from the Imperial Oil collection at Calgary’s Glenbow Museum and the Exxon Mobil Historical Collection at the University of Texas at Austin’s Briscoe Center for American History.

“We considered climate change in a number of operational and planning issues,” said Brian Flannery, who was Exxon’s in-house climate science advisor from 1980 to 2011. In a recent interview, he described the company’s internal effort to study the effects of global warming as a competitive necessity: “If you don’t do it, and your competitors do, you’re at a loss.”

As far as stock price... I suspect it will have an effect... but so did the gulf oil spill, and other issues they've had. They are a huge multinational corporation with business operations worldwide. Lots of factors to impact stock prices.

 

[Olbidness]

In the recent past, XOM stock was 90% + of my net worth. I knew this was unwise thing so I'm down to 100 shares. XOM is about 8% of the S&P 500 IIRC so I still own a sizable amount in mutual funds.
I see the vilification of big oil as normal, sometimes deservedly so. These climate change investigations are nothing but political grandstanding.

 

[explanade]

Agreed, it would be a pretty bleak existence without processed hydrocarbons!

A couple of the talking heads on CNBC stated the large integrated energy companies are probably overvalued at this point. Could be that noise is taking their stock prices down slowly.

How are extreme weather events like droughts, heat waves, heavy rains for that existence?

 

[Dash man]

How are extreme weather events like droughts, heat waves, heavy rains for that existence?

Seems to me we've always had those in our history.


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[aja8888]

Seems to me we've always had those in our history.


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Especially here in Texas!

 

[Olbidness]

I've always wondered how the climate change protesters arrived at the protest.

 

[Dash man]

I've always wondered how the climate change protesters arrived at the protest.

Probably Uber


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[Mulligan]

Seems to me we've always had those in our history.


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Seems it was a problem even Noah had to deal with back in the day.


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[marko]

Getting off topic again but I'll take my chances with storms etc. Just keep my damn lights on!

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[Mulligan]

Getting off topic again but I'll take my chances with storms etc. Just keep my damn lights on!

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Speaking of lights....Mine are powered by coal. We have national headquarters of a couple coal companies nearby. You want to see something squashed like a bug take a look at those company stock prices. It might be "pie in sky" dreams for some people, but don't think they don't want the same thing to happen to oils that is driving the coal companies to near and probably eventual bankruptcy.


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[aja8888]

Exxon/Mobil's new research campus

Just finally getting finished after three years and $4 billion:

ExxonMobil’s New Campus: Giving Houston a Second Energy Corridor - Urban Land Magazine

Aerial photography had revealed a large tract of wooded land 20 miles (32 km) north of downtown Houston, near Interstate 45, not far from George Bush Intercontinental Airport. The Woodlands, a nationally known master-planned community and census-designated place, also lay close to the site. The unidentified Fortune 500 company was very interested in this sizable, rare jewel of vacant, wooded land close to the nation’s energy capital.

The owner of the tract, CDC Houston, had heard it all before. Over the years, the developer had fielded proposals for a NASCAR racetrack and ideas from dozens of other would-be buyers, says Keith Simon, executive vice president and director of development for CDC Houston. But the offers had always been weak.

This time, however, the buyer turned out to be a bona-fide corporate user—ExxonMobil, which today is putting the finishing touches on a 20-building, 3 million-square-foot (279,000 sq m), 385-acre (156 ha) corporate campus where 10,000 employees will work.

This has created a lot of jobs for the area and because they closed several offices and relocated people, reduced multi-location traffic air emissions and centralized efforts.

 

[Alan]