Just do a quick Google search on The North Face and oil and gas and you’ll get a quick idea of the viral vitriol the outdoor apparel company faced from industry backers and pundits. (Full disclosure: Hart Energy has reported extensively on a letter written by Innovex CEO Adam Anderson to VF Corp. over its stance to deny the oil and gas service provider co-branded jackets made with petroleum products, and the role of oil and gas in society. Read about here: https://bit.ly/3tefbYp and here: https://bit.ly/3qElW4c.)
With the help of a new award for customer appreciation and digital marketing campaign design to point out the role of oil and gas in society to the public from the Colorado Oil and gas Association (COGA) the story has gone viral once again. COGA feted The North Face with the award (see the report from CBS 4 TV in Denver here: https://cbsloc.al/3l7eJII.)
Dan Haley, president and CEO of COGA join Hart Energy to talk about the dubious award and his thoughts on VF Corp.’s, parent company of The North Face, stance on co-branding with oil and gas. He also revealed the associations plans to reach Coloradoans with a digital campaign designed to point out the lifestyle uses many of the state’s residents rely on petroleum products to achieve. In addition, he spoke about the regulatory challenges in state and why that might actually help build confidence in “Colorado molecules” for producers in an increasingly ESG-focused world.
Jump to a Topic:
• The North Face fiasco (1:25)
• VF Corp. (The North Face parent company) silence (3:29)
• Public misconceptions about oil and gas (5:48)
• Standing up for the oil and gas industry (8:22)
• Colorado regulations update (10:45)
• The silver lining for “Colorado molecules” (14:28)
• Solutions for the future of oil and gas (16:01)
• Pride in the oil and gas story (17:07)
The rebound came as U.S. crude oil output jumped by 500,000 bbl/d to 11.1 million bbl/d, a level consistent with activity before Hurricane Ida slammed into the U.S. Gulf Coast about a month ago.
Oil prices gained ahead of Hurricane Sally's expected landfall on the U.S. Gulf Coast. Brent crude futures gained 92 cents, or 2.3%, to settle at $40.53/bbl, while WTI crude rose $1.02, or 2.7%, to settle at $38.28/bbl.
Crude inventories rose by 2 million barrels in the week to Sept. 4 to 500.4 million barrels, according to an EIA report, compared with analysts' expectations in a Reuters poll for a 1.3 million-barrel drop.