The Offshore Oil Business Comes Gushing Back

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 24 January 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for Jan. 24. Offshore oil rigs that haven't been used in years are once again setting out to sea as demand for energy surges. WSJ reporter Bob Henderson details where drillers are concentrating their activity and the steps they’re taking to avoid a repeat of past boom-and-bust cycles. Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Busy making budget plans for the business year ahead, we've got you covered.
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0:28.0	Time's applies at three business price promise.
0:34.0	Google announces pay cuts for execs.
0:37.3	Plus, how citadel broke hedge fund records with a $16 billion profit last year,
0:43.0	and boom times are back for the offshore oil industry.
0:46.9	Other sources of oil production grow out there slowing down, in particular US shale.
0:51.6	So, oil companies are looking for other sources, and a lot of those that have not been explored and exploited are in deep water.
1:00.4	It's Tuesday, January 24th.
1:02.3	I'm Luke Vargas with the Wall Street Journal, and here's the AM edition of What's News,
1:07.4	the top headlines and business stories moving your world today.
1:11.4	Google executives are set to see a pay cut on the heels of the company's largest ever round of layoffs.
1:23.8	According to sources, chief executive Sundar Pachai addressed employees in a company wide meeting on Monday,
1:31.0	saying that employees at the senior vice president level and above would receive lower bonuses.
1:37.4	Journal markets reporter Joe Wallace has more.
1:40.6	This is a big deal for those affected.
1:43.1	Employees at tech companies often receive a large portion of their wages through bonuses and stock grants.
1:49.6	Vice presidents at Google can make base salaries of more than $550,000 a year,
	...

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