4 ms·
Heh heh quite audacious to demand over-price for a company which only business is selling fossil fuels. I mean it isn't really a field that has great future pro
by tekkk 7y ago
Heh heh quite audacious to demand over-price for a company which only business is selling fossil fuels. I mean it isn't really a field that has great future prospects. And they know as well as the rest that without diversifying and sharing the risk it will be tremendously damaging to their economy once the renewables start really kicking in and pushing fossil fuel out of the regular use.
With quick look at their wikipedia page their P/E number with 1.1 trillion valuation is about 10. With 2 trillion it would about 20 which is quite insane if that's what they are asking. It's always these people who have distorted view of reality that seem the most damaging to this world. Worked for Steve Jobs maybe but I think in the end, he had a pretty good perception of the technology market.
Yeah, well. Good luck selling that thing. Can't really be a surprise for them that people aren't jumping out of their pants to buy Aramco stock. I think it would be a hard sell even with the 1.1 trillion valuation. Saudi-owned fossil fuel company. A dream investment.
- gridlockd 7y agoMy prediction would be that fossil fuels will be about as important in twenty years as they are today. The green energy revolution is wishful thinking, people really want it to be true and it distorts their expectations. I also suspect that oil prices will remain low because of fracking and that Aramco is really hedging against that, not green energy.