Massive mergers between 4 major oil companies have been announced in October alone — Chevron’s (CVX) proposed buyout of Hess (HES) for $53 billion, ExxonMobil’s (XOM) acquisition of Pioneer Natural Resources (PXD) for $59.5 billion. With the International Energy Agency (IEA) predicting that peak oil demand will hit in 2030, questions arise as to what will these companies do if international and domestic green energy initiatives to go carbon neutral are met.
Lipow Oil Associates President Andy Lipow joins Yahoo Finance to break down what these mergers will entail for these companies and their strategies going forward.
"The question is can clean energy be delivered to the consumer at a cost-effective price compared to fossil fuels?" Lipow asks. "Fossil fuels are going to continue to grow in demand in places like India, Southeast Asia, Latin America, or Africa that certainly don't have the infrastructure... to support the rollout of electric vehicles in a grand way as they're still wrestling with providing electricity for day-to-day consumer needs."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Subscribe to Yahoo Finance: [ Ссылка ]
About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.
To learn more about Yahoo Finance Plus please visit: [ Ссылка ]
Connect with Yahoo Finance:
Get the latest news: [ Ссылка ]
Find Yahoo Finance on Facebook: [ Ссылка ]
Follow Yahoo Finance on Twitter: [ Ссылка ]
Follow Yahoo Finance on Instagram: [ Ссылка ]
Follow Yahoo Finance Premium on Twitter: [ Ссылка ]
