Big Oil rewarding shareholders

Big Oil is raking in historic amounts of cash, but the windfall isn’t being invested in new production to help displace Russian oil and gas. Instead, executives are rewarding shareholders – setting the world up for an even tighter energy market in the years ahead.

Oil booms typically spark a chase for higher production – but not this time. All five supermajors have kept their capital expenditure budgets firmly in check and pledged that this discipline will hold in future years – even as oil prices have closed above $100 a barrel…

https://www.bloomberg.com/news/articles/2022-05-07/big-oil-s…

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I’ve written here a few times on the oil/gas business and it is just a flop, SAAS is still, that’s STILL, the focus. Just watch, I know absolutely no one…not a single person, who has bought and oil or gas stock in years.

Other than…well, you guys know that story!

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