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ExxonMobile consultant Silly question. I understand oil and gas corporations have sunk a lot of money into capital and they want to extract as much value from
by icanhackit 11y ago
ExxonMobile consultant
Silly question. I understand oil and gas corporations have sunk a lot of money into capital and they want to extract as much value from that capital as possible BUT...
They've got a lot of money. Why not buy a lot of very cheap land throughout the world, establish an expensive and expansive HVDC network, and erect a metric-F-tonne of solar panels? I say expensive for a reason - the barrier to entry is a good thing for big players. Why not own the whole enchilada and protect yourself from young upstarts?
And land. Wow, you can do a lot with land. It's not like land is a bad investment - you can put up solar panels, wind turbines, people can live on it, you can grow food on it, you can capture water on it.
I just feel like they're stuck in an ideological feedback loop. They could own the battery business if they wanted to.
Exxon, Shell, BP...guys come over here. Listen. I appreciate where you took us in the 20th century but we're in a new place now and you need to see where that big ol' puck is going. It's yours for the taking.
[Edit: this was supposed to be a reply to tzs, for those wondering where the ExxonMobile consultant quote came from]
- ekianjo 11y ago> They could own the battery business if they wanted to. These companies have so much cash, they probably don't sit on it and rather invest it as much as they can. So they are probably investing in a ton of new businesses without you knowing about it. They don't need to own such businesses, as long as you are a major sponsor/shareholder you have about as much power anyway.