Outstanding opportunity to clean house.
Time for the white collar layoffs to begin. Suddenly, all the educated experts will think it best to re-open the economy.
No minorities removed until all of the white workers have been removed first.
All of that is fine and good ... but what will they do to eliminate or at least punish white privilege?
It seems that the company in a streamlining move radically reduced its engineering and science staff over several years to reduce costs. Well, it streamlined so much that it lacked the capability in-house to accurately keep up with a small thing called proven oil reserves Proven reserves are an asset used as collateral in big time finance deals. We're talking several billion $$$ here. Eventually the banks and regulators figgered this out and called the company on the practice. Between lawsuits and multinational fines, this cost the company about 10-billion $$$ as I recall. In addition, the consent decree required the company to add several hundred petroleum engineers to the staff immediately to support the upstream oil field management, etc. Problem is, there was a world wide shortage of petroleum engineers. Pet. engineers (and chemical engineers) do not grow on trees. Most engineering colleges do not have petroleum engineering and the ones that do generally turn out something like a dozen new petroleum engineers per year. It cost the company a royal mint to restaff their engineering.
Sooo, my fearless prediction is that within 5 years, BP is likely to have some interesting problems unless they radically downsize the petroleum side of the business, which sounds like they plan to do. Downsizing like this though is going to present some issues regarding the value of the asset in that without the significant people expertise to go along with the sale, the value of the asset to a buyer will be lower.
Dollars to donuts this 49yo president of BP is an MBA.
Early phase of the Green New Deal. New President enforcing strict carbon footprint tradeoffs and monitoring of each person’s private activities. (”You’ve made two unnecessary trips to visit that girlfriend. Consolidate or we will not let your car start tomorrow.”
Followed by another economic collapse (people unable to go anywhere, people taking long slow trips by battery powered bus instead of the banned airplanes, no one at the hotels and resorts, gas refineries laying off people).
AOC’s first version announced trains would cross the oceans instead of having a need for airplanes. No one has worked that out. Fun late night bartender talk, though. “If I ran the world....” But she is in the US Congress!