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Royal Dutch Shell's new mindset: 'lower forever' price of oil. Options
Posted: Friday, July 28, 2017 4:43:03 PM

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Joined: 10/2/2015
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"In an interview with Bloomberg TV, Ben Van Beurden, the CEO of Royal Dutch Shell, said his company had changed its mindset to a “lower forever” price of oil." Van Beurden then went on to explain that the company's new path is based on the idea that oil prices and the oil industry will never fully recover. He also said that pressures are now coming from many more competing industries and technologies than before. There are many examples of what these legacy companies are trying to do to stay relevant, with embracing renewable energy technology at the top of the list. At the other end of the spectrum are those who "stay the course", which as with Exxon for example, has already cost them. Exxon’s former CEO Rex Tillerson, who is currently the U.S. Secretary of State, told his shareholders at the annual meeting in 2016 that they did not need to worry; no assets would be stranded. The shareholders found out within months that he was wrong on assets of over two billion barrels of oil. Adopting the "stay the course" strategy in today's global market will make you a laughing stock, and then get you appointed US Secretary of State.
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