clevohardcore
* Kick\'n ass on the wild side *
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CHEVRON earnings sore to 4 billion in 1st quarter
SAN RAMON, Calif. - Chevron Corp.'s first-quarter profit soared 49 percent to $4 billion, joining the procession of U.S. oil companies to report
colossal earnings as lawmakers consider ways to pacify motorists agitated about rising gas prices.
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The San Ramon, Calif.-based company's net income, reported Friday, translated into $1.80 per share, two cents above the average estimate among
analysts polled by Thomson Financial. It compared to a profit of $2.7 billion, or $1.28 per share, in the same January-March period last year.
Revenue totaled $54.6 billion, a 31 percent increase from $41.6 billion last year.
If not for continuing production problems caused by Hurricanes Katrina and Rita last summer, Chevron said it would have made an additional $300
million ? an amount that would have generated the highest quarterly profit in the company's 127-year history.
As it was, the performance marked the fourth consecutive quarter that Chevron has earned at least $3.6 billion as the company continued to capitalize
on oil prices that have climbed above $70 per barrel since the first quarter ended.
The run-up recently has pushed gasoline prices above $3 per gallon, much to the frustration of consumers and politicians looking to win votes in an
election year.
Chevron released its results after two of its biggest rivals, ConocoPhillips and Exxon Mobil Corp., already provoked public outrage with similarly
large first-quarter profits. Combined, the three oil companies earned $15.7 billion during the three months of the year.
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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BDx13
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oh, good, glad i could help.
If I fail math, there goes my chance at a good job and a happy life full of hard work.
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XnMeX
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| Quote: | Originally posted by BD
oh, good, glad i could help. |
That right there is the deffinition of sarcasm. Good work. 
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JawnDiablo
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time to buy motorcycles....
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defstarsteve
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| Quote: | Originally posted by juandiablo
time to buy machetes.... |
On Thursday, Exxon Mobil Corp. (Research), the world's largest publicly traded oil company reported $8.4 billion in earnings -- its biggest
first-quarter profit ever.
fuck them all in the mouth with a .45 till it comes hard down their throats...
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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
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BUSH REJECTS TAX ON PROFITS TODAY.
WASHINGTON - President Bush on Friday rejected calls in Congress for a tax on oil company profits, saying the industry should reinvest its recent
windfalls in finding and producing more energy
"The temptation in Washington is to tax everything," Bush said in an exchange with reporters in the White House Rose Garden. Rather than for the
government to reap the benefit from oil company profits driven by the recent surge in global oil prices, he said, "The answer is for there to be
strong re-investment."
"These oil prices are a wakeup call," Bush said. "We're dependent on oil. We need to get off oil."
With gasoline topping $3 a gallon in some areas, Bush said energy companies should use their increased cash flows to build more natural gas pipeline,
expand refineries, explore "in environmentally friendly ways," and invest in renewable sources of energy.
"That's what the American people expect. They also expect to be treated fairly at the pump," he said.
^^^^ OF FUCKING COURSE HE DOES. Why the hell would he give up that money he promised himself and the investors that bought his election??????
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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newbreedbrian
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disgusting. all of it
The very existence of flamethrowers proves that sometime, somewhere, someone said to themselves, ?You know, I want to set those people over there on
fire, but I?m just not close enough to get the job done.? George Carlin
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clevohardcore
* Kick\'n ass on the wild side *
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NEW YORK (Reuters) - American motorists are feeling the pinch from skyrocketing pump prices, with some turning to buses and bicycles to avoid sticker
shock and scattered shortages on the East Coast and in Texas.
The cost of a gallon of gasoline has jumped about 16 percent in a month to $2.93 on average, and has blown past $3 a gallon in many major cities,
according to AAA's daily survey of more than 85,000 stations.
"They're putting a dent in my pocket," said Patricia Gonzalez, a 36-year-old paralegal as she filled up her 2001 Ford Taurus sedan at a BP station in
the Coconut Grove district of Miami early on Friday.
"The bikes have been sitting around, but now we're getting them out and using them," said Jim Brown, 46, a limousine dispatcher from Ambler
Pennsylvania, filling up the tires on his daughter's bike at a fuel station.
President George W. Bush, under heavy pressure to lower energy prices, this week called for a probe of whether oil companies are illegally
overcharging consumers and directed the Environmental Protection Agency to consider allowing states to permit stations to sell cheaper, lower
grade fuel.
Critics said the moves were unlikely to lead to much relief at the pumps as crude oil prices soar to record highs over $70 a barrel and the United
States wrangles with a crunch in fuel production and transportation capacity.
"Unfortunately, it looks like it will be a challenging year for drivers," said Mantill Williams, national spokesman for AAA auto club in Washington,
D.C. "Right now it looks like we're headed for the record."
Gasoline prices struck an all-time high of $3.07 a gallon last September after Hurricane Katrina slammed into the Gulf Coast, damaging several big oil
refineries.
Bart Sherwood, 37, a Miami-based sport fishing and cruise boat operator, said he blamed the Bush administration for not doing enough to lower energy
costs. "Why am I paying triple for diesel since Bush came in and started messing with the Iraqis?" he said.
PUMPS RUN DRY
Dozens of gasoline stations Houston and Dallas, the heart of the U.S. oil industry, ran out of fuel Friday after transportation problems resurfaced
with the switch to a new anti-smog fuel blend using ethanol.
The shortages add to scattered supply outages on the East Coast that began last week due to the transition, prompting Maryland and Pennsylvania to
request waivers from the EPA that would allow them to sell dirtier grades.
Carol Ainsworth, a retired worker from Houston, said the rising cost of fuel "is pricing me out of visiting my relatives," who live less than two
hours away in Beaumont. She said she now calls them on the phone instead.
"If the president was going to do something about foreign oil, he would do something about public transportation instead," said Ainsworth.
Nate Bouknight, a real estate developer from East Norriton, Pa., said it now costs him about $60 to fill his Ford Explorer SUV, up about $17 from last
month. The vehicle gets about 12 miles to the gallon.
Bouknight said President Bush should do more to ease the high prices, adding he thought the call for an investigation into price gouging was just
a sham.
"Bush is from the oil industry, oil runs through his veins," he said.
While gasoline prices are approaching record highs in the United States, they remain about half the price being paid by motorists in many European
countries, where the taxman takes a larger share.
Gasoline prices in England average roughly $6 a gallon.
Among the cheapest countries for gasoline, Venezuelan service stations sell at roughly 12 cents a gallon.
^^^^ This contains 2 awsome quotes.
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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clevohardcore
* Kick\'n ass on the wild side *
Posts: 12937
Registered: 9-19-2004
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Bouknight said President Bush should do more to ease the high prices, adding he thought the call for an investigation into price gouging was just a
sham.
"Bush is from the oil industry, oil runs through his veins," he said.
^^^^ That is one of them
Each aspect of the soul has it's own part to play, but the ideal is harmonious agreement with reason and control.
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barc0debaby
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As gas prices rise and oil companies enjoy record profits, the industry is increasing its PR efforts. The American Petroleum Institute (API) hired The
Hawthorn Group and Edelman?s advertising practice, spending ?more than $20 million over the last few months.? Talking points developed by API and
others include: ?forces of demand have outstripped supply,? especially with China?s economic growth; ?oil industry profits are not outsize by the
standards of other major industries?; and ?Western oil companies have only a limited share of the crude oil market.? The industry has retained
?familiar Washington figures like the former Reagan official, Michael K. Deaver, and former Senator J. Bennett Johnston of Louisiana,? to gain
Congressional support. PR Week reports that ExxonMobil is ?discussing its Energy Outlook presentation ? with policymakers, citizen groups, and the
media.? Shell Oil is promoting its ?Fuel Stretch Principles,? which ?help people improve their fuel economy,? and its credit card, ?which offers a 5%
rebate on gas purchases.?
Source: The New York Times, May 3, 2006
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DaveMoral
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Tell me again why we can't just have a popular uprising and wipe away all these crooks? From the oval office to the board room.
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defstarsteve
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I heard an interesting little thing last night about the all the oil we have in wildlife areas like in alaska and such....
most people think that opening these areas up to drilling will bring down the price of gas....
but what will happen to all this oil? in total we have about 3%, while the middle east has about 70% but never mind that
in a perfect world it would run free in the streets right and we could all fill up and have a grand ole time.....
in america however the oil will go onto the market at the same competitive price it is selling for now.....
those who drill it well sell it at the highest price possible and we'll still be paying the same fucking amount
the profits will be passed along to board memebers and politicans as it is now not to the consumer
that is how capitolism works.. buy low,or free and sell high...ask any drug dealer
so not only will be gain nothing out of the fucking deal,
but the oil companies will get fatter
and some of the last wild forests left will start to smell like houston....
and if you haven't been to houston wait till it's about 100 degress out and go stand outside of a gas staton for a few hours
the only way to end this shit is for someone outside of big oil to find an alternate source of clean resueable fuel and get it out there...
or in other words we're fucked
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DaveMoral
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Yeah, from what I understand alot of business people are saying we would be better off saving petroleum form manufacturing rather than wasting it on
fuel for transportation... and alternatives aren't nearly as far off as we are led to believe... their development is crippled by these corporate fat
cats in the oil companies.
China's taking over motherfuckers, get used to the idea. At this rate they'll not only consume more oil than us and leave us high and dry, they'll
also develop alternatives faster and out manufacture us in no time.
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