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> An oil major probably makes $20MM in profit every few minutes or at most in an hour. ExxonMobil made $23 billion in profit in 2021; that works out to just ov
by eadmund 4y ago
> An oil major probably makes $20MM in profit every few minutes or at most in an hour.
ExxonMobil made $23 billion in profit in 2021; that works out to just over three days and three hours to get to $20 million.
Shell made $20.6 billion in profit in 2021; it would take them even longer.
The other majors made even less.
A project which wastes over three days of profits is hugely expensive.