ResNet Review is the Energy Newsletter for the Shalennial Generation

Here’s our top Energy Headlines for May:

1. SHELL SHAREHOLDER MEETING TURNS INTO SING-A-LONG 🎵

2. TEAR GAS NEEDED AT TOTAL SHAREHOLDER MEETING 😭

3. BIDEN LOOKING TO BUY THE DIP 🤑🤣

SHELL SHAREHOLDER MEETING TURNS INTO SING-A-LONG

• Chaotic scenes unfolded at Shell’s annual shareholder meeting last week as climate activists stormed the venue, calling for the oil company to be “shut down” and accusing it of “killing” the planet.

  • This is why you can’t have shareholder meetings right in the middle of the work day. Too many environmental protesters available. At least they don’t have to worry about AI replacing their jobs (because they don’t have them).

• A viral video surfaced of a cluster of attendees standing up and singing “Go to hell, Shell, and don’t you come back no more” to the tune of Hit the Road Jack by Ray Charles.

  • I’ll admit, the song is catchy. Unfortunately, even Ray Charles could see the problem with “shutting down” the world’s 5th largest oil company.

TEAR GAS NEEDED AT TOTAL SHAREHOLDER MEETING

• TotalEnergies shareholders rejected an activist resolution on Friday urging faster cuts to the oil major's greenhouse gas emissions program after police intervened to stop climate protesters disrupting its annual general meeting.

  • Wait, the sing-a-long at the Shell meeting didn’t build enough momentum to divert from logic?

• Outside the venue in Paris, the smell of teargas hung in the air and police used pepper spray as they dragged some protesters away to free a path for shareholders.

  • Not to add insult to injury, but do you know which industry enables the production and manufacturing of tear gas (as well as basically everything else in the world)?

BIDEN LOOKING TO BUY THE DIP

• President Biden last year authorized an emergency sale of more than 180 million barrels from the U.S. Strategic Petroleum Reserve to ease gasoline prices that skyrocketed. The Energy Department sold high, averaging roughly $95 a barrel.

  • How about Joe Biden taking a page out of Nancy Pelosi’s playbook with these perfectly timed trades?

• Now the agency is learning that replenishing those stockpiles at the lower rate it wants—between $67 to $72—is more difficult, despite prices sliding near those levels at various points this year.

  • If anyone can sniff out a good time to re-enter the market, it’s JB.

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A Little About ResNet

ResNet AI Inc. is an oil and gas software company that specializes in operations surveillance and asset management software, as well as bespoke digital & reservoir services. Our mission is to Unite the Field & Office towards common corporate objectives. Our software and services are purpose-built for oil & gas applications, and if this newsletter isn’t testimony to that - then you should check out Tinder for the Oilfield, or WellTender, or as we Shalennials call it: Tender 🔥 - where you can swipe right, swipe left, and get the right guy to the right job at the right time 😎

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