The stench of the frantic freaking within the Big Oil conglomerates is so bad that you can actually taste it…. regardless of the flowery articles they are pumping out to sooth the populous into into believing all is well in the land of black goo. This article is a brilliant example of Rosy Prose and glittering distraction, full of epic quotes regaling the reader with lists of Big Oil’s achievements and their advancements into blockchain technology, along with a huge side helping of Trump’s Big Oil Dreams…..
… but there are two glaring pieces of information missing from this long winded, overly perfumed pile of tripe:
– Other than a one sentence mention of a Latin American Oil company accepting payments at the gas pumps with cryptocurrencies…. not a SINGLE other mention of Cryptocurrency usage within the Oil Industry, and more importantly, not even a whisper about the new fully asset backed Petro Cryptocurrency that Venezuela has just launched.
-AND most glaringly of all: Not a single mention of HOW the use of “blockchain” technology will help them (the quintessential “THEM”) bring about their prophesied “NEW OIL BOOM”.
I mean it’s nice an’ all that they are gettin’ with the times and jumping on board the Blockchain Train, but making sales and transactions easier and faster aside…. you still need to find BUYERS for the Oil you’re flogging. The blockchain isn’t going to magically make buyers appear or increase sales. So when Trump and his cronies wax eloquently about bigger oil production, and those wonderful oil sands and how they are going to make a Bijilion dollars from selling what they already can’t sell at the open market price…. you gotta wake up and smell the (rotting) roses. As I said in a Transpicuous News report a while back, when you can’t break even when the price of oil is at $70-80 a barrel, you sure as hell ain’t gonna make money on $40 a barrel.
So reading between the lines, as I do, all I can smell is the stench of desperation. These guys are fucked, and they KNOW they are fucked. But they’ll keep selling whatever overly perfumed parables they can to keep the masses from realizing that their “Petrodollar” Prominence & Prosperity are kaput.
Move over you oily shysters, the new kids on the block are taking over.
Big Oil is due for a disruption. The world’s most important industry has been carrying on without any significant changes in its day to day routine for far too long.
But now, the new tech on the block has its sights set on the multi-trillion-dollar oil and gas sector. It’s official: Blockchain technology has infiltrated Big Oil.