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The Pandemic Could Wipe 20% of Exxon’s Oil and Gas Reserves Off the Books

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That’s what you get when you’re as evil as Exxon.
That’s what you get when you’re as evil as Exxon.
Photo: David McNew (Getty Images)

The oil industry isn’t looking too great, folks. That’s especially true for Exxon, which has lost upward of $1 billion due to the economic crisis last quarter alone. Its downward spiral isn’t over, though.

In a filing to the Securities and Exchange Commission on Wednesday, the oil giant laid out how much the coronavirus has damaged its business. With the world on pause, all the oil these companies typically sell to fuel planes and cars have been sitting around with nowhere to go. Oil prices have also been suffering across the board due to the pandemic. The company said in its filing that if prices stay the way they are for the rest of the year, its proven oil reserves to drop 20% from the 22.4 billion oil-equivalent barrels it reported last year.

Oil reserves only count as “proved” when they meet specific economic guidelines set by the SEC, including the cost and amount of spending required. With this drop in oil prices and the need to cut costs, Exxon could no longer include 4.5 billion oil-equivalent barrels of reserves under that definition. According to Bloomberg, this is enough oil to supply every oil refinery in the Gulf for 18 months.

The company is one of a number in serious trouble due to the pandemic. BP, Shell, Chevron, and other smaller oil firms have all faced serious stress from the pandemic and lowered demand. They’ve announced widespread financial losses, layoffs while resorting to lashing out at activists and not paying loans in an effort to stave off further fallout. But this is a moment of reckoning, and it’s about time.

The fossil fuel industry has brought about widespread catastrophic destruction by speeding along the climate crisis, which has led to impacts as widespread as collapsed ice shelves and flooded nations. It’s about time oil and gas companies bear the burden. This loss of revenue for companies like Exxon, BP, and Shell is nothing compared to the loss of human life countless communities across the globe face due to the climate crisis. The oil industry is not part of the a thriving future, though it’s vital that workers be protected from the fallout of its collapse. But until it’s gone forever, the planet will continue to suffer.

Source : Gizmodo Read More

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Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp

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Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

White Wireless Charge Lamp | $18 | Amazon | Clip coupon + code ABC88699
Black Wireless Charger Lamp | $20 | Amazon | Promo code ABC88699

When you’re ready to turn in for the night, you don’t want to forget to charge your phone— especially if your mobile device doubles as your alarm clock.

With this wireless charger lamp, you can make this crucial step of your nightly routine even easier by just setting your phone on the wireless charging pad and… well, that’s all there is to it!

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Other functions include multiple lighting modes as well as a sleep timer option for auto shut-off of the light after 30 or 60 minutes.

This lamp can be yours in white for $18 if you clip the coupon on Amazon (it’s below the original $40 price) and add promo code ABC88699 at checkout.

You can snag the black version for $20 using the same code—no coupon though, sorry.

Don’t sleep on this deal! Who knows how long stock or the coupon code will last?

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Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

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That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

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Grab this offer while it’s still around!


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Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

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You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

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