{"id":26928,"date":"2017-10-17T06:28:23","date_gmt":"2017-10-17T11:28:23","guid":{"rendered":"http:\/\/olduvai.ca\/?p=26928"},"modified":"2017-10-17T06:28:23","modified_gmt":"2017-10-17T11:28:23","slug":"worlds-largest-oil-companies-deep-trouble-as-profits-vaporize-while-debts-skyrocket","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=26928","title":{"rendered":"WORLD\u2019S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket"},"content":{"rendered":"<header class=\"entry-header clearfix\">\n<h3 class=\"entry-title\">WORLD\u2019S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket<\/h3>\n<p class=\"entry-title\"><span style=\"color: #333333; font-size: 16px;\">The world\u2019s largest oil companies are in serious trouble as their balance sheets deteriorate from higher costs, falling profits and skyrocketing debt.\u00a0 The glory days of the highly profitable global oil companies have come to an end.\u00a0 All that remains now is a mere shadow of the once mighty oil industry that will be forced to continue cannibalizing itself to produce the last bit of valuable oil.<\/span><\/p>\n<\/header>\n<div class=\"entry-content clearfix\">\n<p>I realize my extremely unfavorable opinion of the world\u2019s oil industry runs counter to many mainstream energy analysts, however, their\u00a0belief that business, as usual, will continue for decades, is entirely unfounded.\u00a0 Why?\u00a0 Because, they do not understand the ramifications of the Falling EROI \u2013 Energy Returned On Invested, and its impact on the global economy.<\/p>\n<p>For example, Chevron was able to make considerable profits in 1997 when the oil price was $19 a barrel.\u00a0 However, the company suffered a loss in 2016 when the price was more than double at $44 last year.\u00a0 And, it\u2019s even worse than that if we compare the company\u2019s profit to total revenues.\u00a0 Chevron enjoyed a $3.2 billion net income profit on revenues of $42 billion in 1997 versus a $497 million loss on total sales of $114 billion in 2016.\u00a0 <strong>Even though Chevron\u2019s revenues nearly tripled in twenty years, its profit was decimated by the falling EROI.<\/strong><\/p>\n<p>Unfortunately, energy analysts, who are clueless to the amount of destruction taking place in the U.S. and global oil industry by the falling EROI, continue to mislead a public that is totally unprepared for what is coming.\u00a0 To provide a more realistic view of the disintegrating energy industry, I will provide data from seven of the largest oil companies in the world.<\/p>\n<p><strong>The World\u2019s Major Oil Companies Debt Explode Since The 2008 Financial Crisis<\/strong><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>WORLD\u2019S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket The world\u2019s largest oil companies are in serious trouble as their balance sheets deteriorate from higher costs, falling profits and skyrocketing debt.\u00a0 The glory days of the highly profitable global oil companies have come to an end.\u00a0 All that remains now is a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[8,124,129,277,4654,303,312,2489,1278,12073,3650],"class_list":["post-26928","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-8","tag-central-banks","tag-chevron","tag-eroei","tag-eroi","tag-fed","tag-financial-crisis","tag-oil-companies","tag-oil-industry","tag-srsrocco-report","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26928"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26928\/revisions"}],"predecessor-version":[{"id":26929,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26928\/revisions\/26929"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}