Good morning, here's what the Oilman has for you today:

• Chevron CEO Strikes Back at “Oil is Evil” Camp. Finally.

• 130 Huge Oil Users Call for Phaseout

• Upcoming Oil and Gas Events

• Tweet of the Day

Chevron CEO Strikes Back at “Oil is Evil” Camp. Finally.

The oil industry has been instrumental in improving the quality of life of humankind.

It is not a greedy industry selling an “evil” product.

This is the message that Chevron CEO Mike Wirth had to deliver amid growing pressure on oil and gas to die basically.

“We’re selling a product that’s good.”

In an interview with the Financial Times, Wirth defended the industry as promoting energy security and affordability.

He also said that lowering emissions did matter but suggested that the goal is at odds with security and affordability.

Talk about a complicated situation.

Rather, it is a simple question of priorities made complicated by those who insist on prioritizing the wrong thing.

Chevron and its peers are “selling a product that has changed the quality of life on this planet,” Wirth said.

“For the better.”

“We are not selling a product that is evil. We’re selling a good product.”

It was about time Big Oil started defending itself.

Ten or twenty years ago, saying that oil and gas have improved our lives would have been stating the obvious.

These days, however, the obvious has become politically incorrect.

The constant flood of anti-oil messaging has drowned both the obvious and common sense.

It was high time for the industry to strike back.

After all, it is pretty obvious how essential oil is for the functioning of every single modern economy.

I mean, why do you think Biden lifted Venezuela's oil sanctions?

It wasn’t to speed up the transition to wind and solar.

It was to lower oil prices.

Because oil is an essential commodity.

And it will remain essential for the foreseeable future.

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130 Huge Oil Users Call for Phaseout

A group of 130 international companies has called for a deadline for the phaseout of hydrocarbons.

All of these companies are significant consumers of hydrocarbons.

An impressive lineup

The signatories of the letter that contained the call to end oil and gas production include the following names:

Unilever, Nestle, Volvo Cars, Heineken, Vodafone, AstraZeneca, Bayer, BT Group, and, of course, Orsted, the wind turbine maker.

Apparently, none of these signatories are aware that:

Consumer products

Consumer product packaging

Food packaging

Furniture

Beer

Car paint

Dashboards, tires, and lots of components under the hood

Phones

Cables

Drugs and vaccines

And freaking wind turbines

ALL need petrochemical products.

So, essentially, these more than 130 companies are calling for a phaseout of their own businesses.

This must be a whole new phase of the transition disease.

Virtue-signaling gone mad

This is what this letter is.

It is a massive virtue-signaling gesture from companies caught in greenwashing paranoia hell.

Investors are getting suspicious about green credentials.

There’s a good reason for that: green credentials are worthless.

There is no credible way to prove you have any, not after carbon offsets turned out to be a scam.

The only way to lure green investors in virtue-signal is like there’s no tomorrow.

Never mind whether it makes sense or not.

Upcoming Oil & Gas Events

• November 1: Oil and Gas Electrification Symposium, Longmont, CO

• November 2: LOGA State Industry Series, Benedict’s Plantation, Mandeville, LA

• November 6: Louisiana Energy Golf Open, Oakbourne Country Club, Lafayette, LA

• November 6-8: IPAA Annual Meeting, JW Marriott San Antonio Hill Country Resort and Spa, San Antonio, TX

• November 7: LOGA State of the Industry Series, Petroleum Club of Houston, Houston, TX

Around the Global Patch

🇧🇬 Bulgaria's gas deal under EU review.
🇩🇪 Extended standby for German coal plants.
🌍 Africa's $800B upstream oil & gas investment.

Tweet of the Day

Thanks for reading today's Oil Patch!

Stay oily, my friend.

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