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DewDiligence

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DewDiligence

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Re: OakesCS post# 13182

Thursday, 02/09/2017 12:48:26 PM

Thursday, February 09, 2017 12:48:26 PM

Post# of 29427
WSJ piece on Big Oil seems dimwitted—comments welcome:

https://www.wsj.com/articles/big-oil-loses-its-mojo-1486491706

…by de-emphasizing megaprojects, Big Oil is retreating from the area where it enjoys a competitive advantage. While they may be able to compete with small fry in energy’s unconventional frontier, committing less capital to the monster fields where only they can play risks lowering long-term returns. Investors should be asking themselves whether shares of less ambitious oil majors are still worth owning.

The oil business has always been cyclical. Why does the WSJ writer assume that Big Oil won’t resume investing in mega-projects at some point?

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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