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Chevron sticks with oil. And it pays off.

Anchorage Daily News online -- CHRIS KAHN
The Associated Press

Published: April 27th, 2012 02:06 PM
Last Modified: April 27th, 2012 02:15 PM

NEW YORK (AP) - Chevron never bought into North America's natural gas boom the way Big Oil peers like Exxon did.

That decision appears to be paying off.

The San Ramon, Calif. energy giant reported Friday that profits increased 4.2 percent from January to March as oil sold for higher prices. Meanwhile a plunge in U.S. natural gas prices contributed to an 11 percent profit decline at Exxon. ConocoPhillips, another major U.S. natural gas producer, saw profits fall 3 percent.

Chevron's reliance on oil "turned out to be a really good decision," Argus Research analyst Phil Weiss said. "And it could serve them well. They have a lot of cash on hand."

New technologies set off a rush

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Submitted Apr 29, 2012 By: Nitewolf

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tutaw Champion Author Kentucky Posts:3,623 Points:845,670 Joined:Sep 2008	Message Posted: Apr 29, 2012 11:16:00 PM Ignore tutaw Report Abuse woohoo
lolobond All-Star Author New Orleans Posts:724 Points:621,435 Joined:Dec 2010	Message Posted: Apr 29, 2012 11:12:57 PM Ignore lolobond Report Abuse Blabla
IUVidiot Champion Author Indiana Posts:3,605 Points:712,360 Joined:Jun 2011	Message Posted: Apr 29, 2012 11:10:00 PM Ignore IUVidiot Report Abuse ok
Beaveronparade Champion Author Hartford Posts:2,109 Points:637,605 Joined:Mar 2011	Message Posted: Apr 29, 2012 11:08:50 PM Ignore Beaveronparade Report Abuse Very informative article, thank you for posting.
iamforiu Champion Author Indiana Posts:3,590 Points:714,665 Joined:May 2011	Message Posted: Apr 29, 2012 11:06:59 PM Ignore iamforiu Report Abuse ok
granitestater Champion Author New Hampshire Posts:8,836 Points:1,432,700 Joined:Oct 2008	Message Posted: Apr 29, 2012 11:06:41 PM Ignore granitestater Report Abuse gas is gas...
justmedc Veteran Author Michigan Posts:382 Points:174,495 Joined:Mar 2012	Message Posted: Apr 29, 2012 11:06:03 PM Ignore justmedc Report Abuse ok
Road-Runner Champion Author Denver Posts:7,046 Points:1,905,915 Joined:May 2004	Message Posted: Apr 29, 2012 11:05:41 PM Ignore Road-Runner Report Abuse What plunge in natural gas prices??? Residential prices for natural gas are still going up and up and up!
singlemom27 Champion Author Ventura Posts:3,123 Points:642,135 Joined:Apr 2011	Message Posted: Apr 29, 2012 11:05:21 PM Ignore singlemom27 Report Abuse I'm not crying for Exxon...they still make way too much money at the consumers' expense.
Is246 Champion Author Albuquerque Posts:1,019 Points:428,710 Joined:Apr 2011	Message Posted: Apr 29, 2012 11:03:27 PM Ignore Is246 Report Abuse ok
Lukus Champion Author Halifax Posts:8,299 Points:1,677,455 Joined:Nov 2007	Message Posted: Apr 29, 2012 11:02:26 PM Ignore Lukus Report Abuse Profits are in Oil right now.
mplato Champion Author Columbia Posts:8,264 Points:1,818,195 Joined:Jun 2004	Message Posted: Apr 29, 2012 11:01:33 PM Ignore mplato Report Abuse since chevron is an oil and gas company...i would stick with it too
Hop1LA Champion Author Baton Rouge Posts:3,324 Points:1,179,245 Joined:Apr 2008	Message Posted: Apr 29, 2012 11:00:23 PM Ignore Hop1LA Report Abuse In the short run that may be a good strategy, but not for the long haul.
9C1 Champion Author Chicago Posts:22,869 Points:4,249,285 Joined:Jul 2001	Message Posted: Apr 29, 2012 10:58:08 PM Ignore 9C1 Report Abuse The big oil companies will make 3 or 5 Billion rather than 10s of Billions.
30mpg80 Champion Author Lexington Posts:10,066 Points:1,490,780 Joined:Nov 2008	Message Posted: Apr 29, 2012 10:54:38 PM Ignore 30mpg80 Report Abuse The other big oil companies will be crying all the way to the bank.
rickone All-Star Author Detroit Posts:555 Points:395,385 Joined:May 2004	Message Posted: Apr 29, 2012 10:53:19 PM Ignore rickone Report Abuse Interesting - Thanks for posting.
preacherboyFL Veteran Author Orlando Posts:444 Points:124,960 Joined:Feb 2012	Message Posted: Apr 29, 2012 10:53:15 PM Ignore preacherboyFL Report Abuse Ephesians 4:29 Do not let any unwholesome talk come out of your mouths, but only what is helpful for building others up according to their needs, that it may benefit those who listen.
rx7racerca Champion Author Calgary Posts:4,208 Points:1,114,865 Joined:Sep 2008	Message Posted: Apr 29, 2012 10:48:43 PM Ignore rx7racerca Report Abuse Other than the second half of 2008 and 2009, it's not like there's really been hard times in the oil business.
indrix All-Star Author Toronto Posts:587 Points:162,115 Joined:Sep 2011	Message Posted: Apr 29, 2012 10:48:13 PM Ignore indrix Report Abuse I will stick with the consumers.
mabrams184 Champion Author Lexington Posts:2,114 Points:536,715 Joined:Aug 2011	Message Posted: Apr 29, 2012 10:48:11 PM Ignore mabrams184 Report Abuse Congress will help out the oil companies that lost profits.
goodbuy Champion Author Michigan Posts:7,678 Points:1,424,680 Joined:May 2005	Message Posted: Apr 29, 2012 10:44:16 PM Ignore goodbuy Report Abuse So when are consumers going to get the benefit?
katmandue Champion Author Detroit Posts:8,086 Points:2,137,045 Joined:Jul 2006	Message Posted: Apr 29, 2012 10:34:40 PM Ignore katmandue Report Abuse Naturaly prices are going through the roof thanks to the teapartiers/GOBPers.
colaguy Champion Author Columbia Posts:3,181 Points:1,009,925 Joined:Oct 2008	Message Posted: Apr 29, 2012 10:32:21 PM Ignore colaguy Report Abuse good for them
Mmurchu Rookie Author New York Posts:29 Points:2,475 Joined:Mar 2012	Message Posted: Apr 29, 2012 10:25:34 PM Ignore Mmurchu Report Abuse The price at the pumps didn't change much
w9med Champion Author Gary Posts:1,128 Points:328,445 Joined:Aug 2011	Message Posted: Apr 29, 2012 10:21:33 PM Ignore w9med Report Abuse Profits increase again. Imagine that
uatide13 Rookie Author Alabama Posts:23 Points:13,490 Joined:Apr 2012	Message Posted: Apr 29, 2012 10:15:22 PM Ignore uatide13 Report Abuse Exxon will survive
FrankTA2 Champion Author New York Posts:4,305 Points:1,098,150 Joined:Jun 2007	Message Posted: Apr 29, 2012 10:13:51 PM Ignore FrankTA2 Report Abuse Gee, I really feel sorry for Exxon, was their billion dollar profits off a couple of million?
MrLuigi Champion Author Massachusetts Posts:4,788 Points:969,610 Joined:Jun 2005	Message Posted: Apr 29, 2012 10:10:05 PM Ignore MrLuigi Report Abuse their all stickin' it to us anyway, Chevron maybe more than others...
bvrbill Champion Author Eugene Posts:3,238 Points:521,550 Joined:Jul 2011	Message Posted: Apr 29, 2012 10:08:48 PM Ignore bvrbill Report Abuse It's paid off in the short term. We don't know yet if it will pay off over time.
mattymattmatt All-Star Author Scranton Posts:891 Points:367,005 Joined:Mar 2011	Message Posted: Apr 29, 2012 10:07:11 PM Ignore mattymattmatt Report Abuse Herp Derp.
WebGabe Champion Author Pennsylvania Posts:2,384 Points:499,545 Joined:Jun 2007	Message Posted: Apr 29, 2012 10:06:41 PM Ignore WebGabe Report Abuse Time will tell.
adgam Champion Author Orange County Posts:2,264 Points:501,020 Joined:Nov 2011	Message Posted: Apr 29, 2012 10:05:15 PM Ignore adgam Report Abuse ok
petrpuck All-Star Author Hamilton Posts:559 Points:420,360 Joined:Nov 2011	Message Posted: Apr 29, 2012 10:05:10 PM Ignore petrpuck Report Abuse yeah yeah yeah
slowpoke63 Champion Author Louisiana Posts:2,747 Points:889,090 Joined:Jul 2009	Message Posted: Apr 29, 2012 10:02:11 PM Ignore slowpoke63 Report Abuse ok
gmcgas Champion Author Atlanta Posts:5,968 Points:1,716,345 Joined:Mar 2004	Message Posted: Apr 29, 2012 10:02:09 PM Ignore gmcgas Report Abuse big as it appears.
memo81 Champion Author St. Louis Posts:2,363 Points:447,425 Joined:Feb 2012	Message Posted: Apr 29, 2012 10:00:31 PM Ignore memo81 Report Abuse ok
radiorumor Champion Author Texas Posts:2,827 Points:756,785 Joined:Feb 2011	Message Posted: Apr 29, 2012 10:00:20 PM Ignore radiorumor Report Abuse Natural gas will go up when we are tired of paying high price for oil
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Apr 29, 2012 9:59:42 PM Ignore sammy518 Report Abuse OK
Blue48 Champion Author Illinois Posts:7,320 Points:1,640,870 Joined:Feb 2007	Message Posted: Apr 29, 2012 9:59:19 PM Ignore Blue48 Report Abuse WHATEVER! [Edited by: Blue48 at 4/29/2012 10:01:09 PM EST]
Bildawg Champion Author Ohio Posts:1,071 Points:484,295 Joined:Oct 2011	Message Posted: Apr 29, 2012 9:59:03 PM Ignore Bildawg Report Abuse Well.....ok
darkknight1 Champion Author Winston-Salem Posts:4,350 Points:898,760 Joined:Nov 2010	Message Posted: Apr 29, 2012 9:57:17 PM Ignore darkknight1 Report Abuse And who's paying for their success?
robaloma Champion Author Houston Posts:2,616 Points:694,550 Joined:Feb 2011	Message Posted: Apr 29, 2012 9:55:59 PM Ignore robaloma Report Abuse great?
ILANGE9 Champion Author Illinois Posts:7,630 Points:1,600,125 Joined:Sep 2008	Message Posted: Apr 29, 2012 9:51:28 PM Ignore ILANGE9 Report Abuse And my life changed today how by reading this?
ratones1 Champion Author Los Angeles Posts:2,922 Points:734,680 Joined:Mar 2011	Message Posted: Apr 29, 2012 9:47:20 PM Ignore ratones1 Report Abuse OK...
babugp Veteran Author Philadelphia Posts:339 Points:76,685 Joined:Mar 2012	Message Posted: Apr 29, 2012 9:45:47 PM Ignore babugp Report Abuse k
ED6 Champion Author Riverside Posts:9,494 Points:1,853,080 Joined:Jul 2007	Message Posted: Apr 29, 2012 9:38:53 PM Ignore ED6 Report Abuse For now.
BWJM Champion Author KW Posts:1,113 Points:303,780 Joined:Oct 2011	Message Posted: Apr 29, 2012 9:38:46 PM Ignore BWJM Report Abuse ok
VernonOR Champion Author Oregon Posts:2,925 Points:739,820 Joined:Aug 2010	Message Posted: Apr 29, 2012 9:36:54 PM Ignore VernonOR Report Abuse Chevron has overpriced fuel.
raj_fl Champion Author Trenton Posts:3,219 Points:730,705 Joined:Oct 2010	Message Posted: Apr 29, 2012 9:36:49 PM Ignore raj_fl Report Abuse mmmmmm lets see how this pays off
raj_fl Champion Author Trenton Posts:3,219 Points:730,705 Joined:Oct 2010	Message Posted: Apr 29, 2012 9:35:53 PM Ignore raj_fl Report Abuse mmmmmm
Jeffro61 Champion Author Cleveland Posts:2,287 Points:2,288,795 Joined:Oct 2005	Message Posted: Apr 29, 2012 9:35:49 PM Ignore Jeffro61 Report Abuse They are all still making a profit, just not as much as their greedy butts would like.
lmpski Veteran Author Boston Posts:431 Points:399,055 Joined:May 2011	Message Posted: Apr 29, 2012 9:35:48 PM Ignore lmpski Report Abuse ...and their Techron is still the best.