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

• Exxon Wins against Activist Investor Despite Case …

• Let’s Subsidize Some Green Jobs

• Tweet of the Day

Exxon Wins against Activist Investor Despite Case Dismissal

A judge has dismissed Exxon’s lawsuit against a climate activist investor.

It sounds like defeat, but it’s not.

Because the investor promised not to press Exxon on climate again.

If you poke a bear long enough…

Climate activists posing as investors have been attacking Big Oil for years.

Petition after petition has been tabled without regard for what’s good for the company.

Finally, Exxon last year had enough.

Arjuna Capital tried one more petition.

The company sued.

Arjuna Capital withdrew the petition.

It promised it wouldn’t table it anymore, so please drop your lawsuit.

Exxon didn’t.

This got other climate activists from Calpers and others to get involved.

Suddenly they got worried about investor rights and freedoms.

Now we have the ruling, and it actually makes sense.

And Exxon still made its point.

Exxon’s lesson on how to drive a point home

The oil industry has turned into a punching bag for activists of all sorts.

Big Oil has been the biggest target.

It kept taking it all lying down but it seems these times are over.

Activists are now openly trying to hurt the business of these companies.

And with this, they would also hurt their investors.

Apparently, Big Oil’s survival instinct finally kicked in.

So it’s fighting back.

Exxon’s lawsuit is a great example of this change in approach.

It was about time, too.

Let’s Subsidize Some Green Jobs

The Biden admin is subsidizing so-called green jobs.

People working in the “green” industries are not making enough money.

They’re not making as much as oil and gas people, you see.

And that’s a problem to be fixed with subsidies.

So, about those millions of green jobs…

That was the plan and the promise.

Millions of jobs in wind, solar, EVs, and whatever, all with good pay.

But because of how the market works, this didn’t happen.

It couldn’t happen.

The administration expected it to work because they had zero clue about market forces.

It’s strange, but there it is.

And those same people now want to fix the problem.

By throwing more of taxpayers’ money into industries that, were it not for subsidies, would be dead in the water.

That would sure make them popular.

The one single solution to every transition problem

Subsidies.

This is what the federal government throws at every problem with its energy policies.

People don’t want to buy EVs?

Give EV makers subsidies to make their cars cheaper.

Is solar too expensive?

Subsidize the developers in any way you can, even if it means a budget deficit.

Just ask California.

The same is now happening with jobs.

Are wages in wind and solar too low?

Let’s have some subsidies for those workers.

The problem that subsidy enthusiasts keep forgetting is that it can’t last forever.

The money always runs out.

Just ask California.

Tweet of the Day

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