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Memo to Big Oil
1. Memo to Big Oil
Diversify your perspective.
Here is the metaphor:
If people think that the Moon is made of green cheese, then Galileo didn’t explain
things properly. The solution is not to explain things to the people. The solution
is to explain things to Galileo.
For years, Urban Legend has been saying that the Big Oil is impeding the efforts
to develop high mileage automobiles and alternative energy sources. This does
not mean that Big Oil did these things. However, if this is the perception there
will be a big pushback.
The solution is not to explain things to the people. The solution is to explain
things to Big Oil.
To begin with, do not say, “Slim, telling us what we should have done is 20/20
hindsight.” It is. Don’t waste time saying it. Not because you are enlightening
anyone, but because you are deluding yourself. Why is this? Because I will say,
“Now that you have 20/20 hindsight, your mistakes should be a guidepost not a
hitching post.”
Your strategic planning failures of the past do not excuse your strategic planning
failures for the future.
Here is a four-point plan to guide your strategic planning.
1. Invest your profits in high-mileage technology.
Why?
Because as it becomes increasingly more important, you will hold the patents.
Intellectual property has value.
2. Invest in active solar power technology.
Why?
Because you will become the energy suppliers of the future.
