Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
The megamergers have returned to the oil and gas industry. Last seen in the late 1990s and early 2000s, these deals created today’s supermajors, BP (Amoco), Exxon (Mobil) and Chevron (Texaco). The latest transactions, Exxon’s bid for Pioneer and Chevron’s Hess offer, will provide their acquirors with additional long-term supply of fossil fuels. These acquisitions may be a harbinger of things to come due to macro and micro factors.
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