Title : When It Comes To Oil Reserves, "Size Doesn't Matter" -- Reuters, Bousso -- May 16, 2018
link : When It Comes To Oil Reserves, "Size Doesn't Matter" -- Reuters, Bousso -- May 16, 2018
When It Comes To Oil Reserves, "Size Doesn't Matter" -- Reuters, Bousso -- May 16, 2018
For "Big Oil," size doesn't matter. Over at Reuters. Your thoughts?A decade ago, the news that the world’s top oil and gas companies had less than 12 years of production left in their reserves might have caused a panicked sell-off in their shares.
But as consumers try to move away from fossil fuels to cleaner and cheaper energy sources, investors and executives say reserve size is no longer the gold standard for measuring the value and health of a company.
The cost of developing existing reserves and the amount of carbon those reserves produce has now become more important, they say. This is leading to a profound shift in company strategies.
An analysis by Reuters and Guinness Asset Management of the annual reports of those eight companies shows that the size of their oil and gas reserves, when added together, fell to 91 billion barrels in 2017. That was the lowest since the same amount in 2005.So, Ron Bousso, over at Reuters, says "size doesn't matter." Your thoughts?
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