I've been seeing a lot of people talk about Shell's report yesterday as good news for the end of the oil age. Let's actually read Shell's report on their future planning:
(I know it's easy to click on the first news headline you see about a topic, but if there is a primary source, you should always read that. Most of the people I've seen discussing this are sharing the New York Times coverage of this, which portrays Shell as transitioning into a green future. I think this is a hopeful/delusional perspective that facilitates a neoliberal march into Progress.
In my perspective on this report, Shell intentionally decreasing production to increase the value per gallon of oil to meet shareholder dividend demands. Promises of reinvestment are into natural gas, today. Promises of reinvestment in renewable energy are a "if that doesn't work" promise and are not likely to be approved by voting shareholders.
This limited production is being credited to declining capacity in extant reserves, but that claim is suspicious: new technologies are increasing our reserve capacity, year-over-year, and reducing extraction costs. It is more likely that the attempt to increase the commodity value of oil is to attract investors who are leaving the euphoric bull equities market and looking for value assets in which to rest the liquidity.
There are signals to be inferred from this report, but I do not see any signals about the environment here, just market stuff.
Header image by Jasper Juinen, copyright 2018 Bloomberg Finance JP
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STOPCheck out the last post from @hivebuzz:
'Reduce net debt to $65 billion.
On reducing net debt to $65 billion, target total shareholder distributions of 20-30% of cash flow from operations; increased shareholder distributions achieved through a combination of Shell’s progressive dividends and share buybacks.'
'starting at the 2021 AGM, submit an Energy Transition Plan for an advisory vote to shareholders, the first in the sector to do so. We will update that plan every three years and seek an advisory vote on the progress made each year.'
-Hello, I had a quick read and copied these to quotes from your Shell Report Link.
In my opinion, It's made-up imaginary money that they are going to use to give back to the 'shareholders' who are going to vote on an 'Advisory Progess'
I think your right about them waiting for a good price to sell, etc. And the Earth/Environment work differently to Humans made up money system.
'THE ROAD TO NET-ZERO EMISSIONS: A COMPREHENSIVE CARBON MANAGEMENT APPROACH'
The 'Red Road' ? And another quote as it is confusing to read!
Dang, I didn't think one of the earlier comments I got on this platform would be a screenshot of a book from some Lakota person talking!
The book is 'From the Gathering: The Wisdom of Little Crow' (Carl Bryant)
Have you looked at Exode?
Exode Link
It's a new game, and it would be nice to have some different words and ideas, It's still in the early stages of development. And the Captains(players) can input ideas and I've read a bit of Lakota Author Sci-Fi in the past(can't remember the name now), A Ghost Walker Robot uprising with Environmental disaster type vibes.