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Politicians, especially Biden & the Progressive Socialist Democratic policies, do not learn from history….
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Common Sense, Current Affairs, Liberal Logic, Man-made Climate Change Isn't Real, Video 04.06.2021 No Comments
David Ramsden-Wood, Hitachi Vantara O&G Business Development; #hottakeoftheday, Author, Observer of intellectual inconsistency and caller of BS as required
It’s… about …. time.
For far too long, the oil and gas industry has gone along to get along. The substantial platforms of our majors and their marketing budgets and trade associations have placated, instead of attacked, and been quiet, passive, and accepting. If we learned anything as a society in 2020, it’s that the media is propaganda tool for those pushing an agenda. Narrative is controlled and bought. Full stop.Before we get to the #hottakeoftheday “Hero of the Year” award (hint, it’s Chris Wright of Liberty Oilfield Services), let’s look at Engine No. 1’s proxy battle with Exxon. Here is a hedge fund that owned 0.02% of ExxonMobil’s stock, or roughly 8.5 mm shares and bought at roughly $40/share (~$340 mm). Their proxy battle cost $30 mm which represents ~9% cost on the total position.
Do we REALLY think that Engine No. 1 paid for that? They have 3 new directors, with a press machine and a “hedge fund” behind them that is happy to spend money to influence the energy transition narrative and investment outcomes.
Which brings us to Chris Wright and the battle the industry has had with The North Face, a VF Company. A CEO is in a unique position to use their platform to counteract one narrative with another.
Me? I love energy. Our life is enabled by energy. And the virtue signaling of those that don’t want to acknowledge the role oil and gas plays in our economy is getting really old. So… Chris. Thank you.
The video is below, and I encourage you to watch it and share it. He says it better than I ever could.
It’s…. about…. time.
