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Obviously, the sky is falling!! There won’t be jobs in Colorado’s O&G industry!!
Or, in this world, the S&P500, Dow Jones Industrials, and NASDAQ are all drifting upwards, and Colorado will continue to have a stable but declining number of employers and employees in the industry.
out of curiosity, how can the numbers be both stable and declining?
V — Well, there is the example of the Stable Genius…. the stink may wax and wane, but remains stable.
But stable does not necessarily mean unchanging:
A radioactive element can have a stable & steady decay
(as new employment in the renewable sector grows at a faster pace than the decline in O&G)
Funny…it was O&G that hastened the demise of the once prosperous buggy whip industry.
😏
Family history says one of my grandfathers and his brothers made money cutting and delivering firewood (late 1870s-early 1880s) until more people shifted to coal. The coal delivery business dropped off precipitously when oil and natural gas could be delivered to most houses and buildings.
There is a branch of my family that were coal miners in eastern Kentucky. The economic devastation of the companies leaving is matched only by the environmental devastation of their arrival.
The song "16 Tons" made popular by Tennessee Ernie Ford was anthemic to the area where I have a lot of family history.
The companies that created the "company store" didn't do much for those towns when business moved out, except bury some of them by moving to "mountain top removal" mining.
…and with friends like the Orange Turd and Wilbur, who needed enemies?
12 Coal Miners Died on This Man’s Watch in 2006. Now Trump Wants to Make Him Commerce Secretary.
There’s a place for Wilbur Ross shoveling coal in Hell. Terrible compensation, great job security.
Oil companies don’t want to be known for oil anymore
Shell Hits Its Own Peak Oil, Plans to Reduce Output
Energy giant joins peers it pledging to reduce its dependence on fossil fuels while tapping the growing electricity market
https://www.wsj.com/articles/shell-hits-its-own-peak-oil-plans-to-reduce-output-11613042962
"Shell confirmed that from now it would allocate around 25% of its spending, or $5 billion to $6 billion, to renewable energy and marketing—which includes its gas stations and lubricants business—up from 11% previously."
That's a lot better than Big Tobacco's efforts to diversify:
"Shell said Thursday its oil production had already peaked…"
WSJ, 11 Feb 2021
The news is everywhere.
Today is National Lost Penny Day