). Sankey Research President and Lead Analyst Paul Sankey joins Catalysts to discuss how the latest news is affecting the oil industry on a larger scale.
And we're seeing that trend continue, has shareholders just approved Chevrons $53 billion acquisition of the company joining us now as Paul, thank you.As we just mentioned, we've seen increased consolidation in this industry, not just with Chevron and has but also Exxon and pioneer and now a new report about Can Go Philips and Marathon Oil.Well, generally speaking, this is a capital, capital, intense business.
Well, unfortunately, the government agencies here, the, the Fair Trade Commission and, uh, the environmental protection agency, the FTC and the EPA have both become quite highly politicized And of course, as you're well aware, we're in an election year.But we have just seen Exxon for Pioneer get approved with a little bit of a a grandstanding uh proviso that Scott Sheffield the CEO as was of pioneer would not be allowed to go on the board of Exxon.
So the point is that whilst there's a lot of political grandstanding, it doesn't tend to come to much.So Paul given all this, given the number of deals that we've seen within this space and then also coupling that with just a supply and demand dynamics that we've seen playing out within energy.