Oil Majors Under Pressure Amid Virus

The video discusses the significant write-downs by major oil companies due to the pandemic's impact on oil demand and prices. It highlights how European companies are adjusting their strategies towards low-carbon fuels, while US companies lag behind. Investors are concerned about the long-term price assumptions and climate change commitments of US oil giants like Exxon and Chevron.

What was one of the main reasons for the financial write-downs by oil companies during the pandemic?

• Increased oil production

• Falling oil and gas demand

• Rising oil prices

• New government regulations

How did BP adjust its long-term oil price forecast during the pandemic?

• Decreased from $70 to $55 per barrel

• Increased from $55 to $70 per barrel

• Maintained at $70 per barrel

• Increased to $80 per barrel

What distinguishes European oil companies from US oil companies in terms of climate change?

• Both have the same approach towards climate change

• European companies take climate change more seriously

• US companies are more proactive in addressing climate change

• European companies are less concerned about climate change

What is the role of the New York State Common Retirement Fund in the context of US oil companies?

• It invests in renewable energy only

• It manages $210 billion and pushes for climate change considerations

• It supports US oil companies without any conditions

• It is a European investment fund

What challenge do investors face with US oil companies like Exxon and Chevron regarding climate change?

• Lack of transparency in financial reports

• Uncertainty about their commitment to climate change

• High oil prices

• Excessive investment in renewable energy