Replies to post #503459 on Tornado Alley (PROG)

[dbergh]

Energy is already so cheap, that American oil companies are losing money, America is already the world leader in oil production.

What has Big Oil done with its $613 billion windfall?
The evolving energy landscape remains the central business challenge for the world’s largest rated independent integrated oil and gas companies: BP, Chevron, ExxonMobil, Shell and TotalEnergies. Together, the Big Five generated $613 billion of operating cash flow between January 2021 and September 2023, fueled mostly by high energy prices in the years following the pandemic.

The Big Five’s record profits and cash flows have enabled significant returns to shareholders, bolstered their balance sheets, and put them in a stronger financial position to respond to a future erosion in demand for fossil fuels. How the Big Five allocate capital and manage debt — while navigating competing global priorities around energy security, affordability and energy transition — will be key for their future credit quality.
https://www.moodys.com/web/en/us/about/insights/data-stories/oil-and-gas-2023-windfall.html