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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


Read the Full Article

Submitted Apr 29, 2012 By: Nitewolf
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Chevron sticks with oil. And it pays off. Back to Topics
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tutaw
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Message Posted: Apr 29, 2012 11:16:00 PM

woohoo
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lolobond
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Message Posted: Apr 29, 2012 11:12:57 PM

Blabla
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IUVidiot
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Message Posted: Apr 29, 2012 11:10:00 PM

ok
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Beaveronparade
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Message Posted: Apr 29, 2012 11:08:50 PM

Very informative article, thank you for posting.
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iamforiu
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Message Posted: Apr 29, 2012 11:06:59 PM

ok
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granitestater
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Message Posted: Apr 29, 2012 11:06:41 PM

gas is gas...
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justmedc
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Message Posted: Apr 29, 2012 11:06:03 PM

ok
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Road-Runner
Champion Author Denver

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Message Posted: Apr 29, 2012 11:05:41 PM

What plunge in natural gas prices??? Residential prices for natural gas are still going up and up and up!
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singlemom27
Champion Author Ventura

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Message Posted: Apr 29, 2012 11:05:21 PM

I'm not crying for Exxon...they still make way too much money at the consumers' expense.
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Is246
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Message Posted: Apr 29, 2012 11:03:27 PM

ok
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Lukus
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Message Posted: Apr 29, 2012 11:02:26 PM

Profits are in Oil right now.
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mplato
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Message Posted: Apr 29, 2012 11:01:33 PM

since chevron is an oil and gas company...i would stick with it too
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Hop1LA
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Message Posted: Apr 29, 2012 11:00:23 PM

In the short run that may be a good strategy, but not for the long haul.
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9C1
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Message Posted: Apr 29, 2012 10:58:08 PM

The big oil companies will make 3 or 5 Billion rather than 10s of Billions.
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30mpg80
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Message Posted: Apr 29, 2012 10:54:38 PM

The other big oil companies will be crying all the way to the bank.
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rickone
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Message Posted: Apr 29, 2012 10:53:19 PM

Interesting - Thanks for posting.
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preacherboyFL
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Message Posted: Apr 29, 2012 10:53:15 PM

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.
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rx7racerca
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Message Posted: Apr 29, 2012 10:48:43 PM

Other than the second half of 2008 and 2009, it's not like there's really been hard times in the oil business.
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indrix
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Message Posted: Apr 29, 2012 10:48:13 PM

I will stick with the consumers.
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mabrams184
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Message Posted: Apr 29, 2012 10:48:11 PM

Congress will help out the oil companies that lost profits.
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goodbuy
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Message Posted: Apr 29, 2012 10:44:16 PM

So when are consumers going to get the benefit?
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katmandue
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Message Posted: Apr 29, 2012 10:34:40 PM

Naturaly prices are going through the roof thanks to the teapartiers/GOBPers.
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colaguy
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Message Posted: Apr 29, 2012 10:32:21 PM

good for them
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Mmurchu
Rookie Author New York

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Message Posted: Apr 29, 2012 10:25:34 PM

The price at the pumps didn't change much
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w9med
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Message Posted: Apr 29, 2012 10:21:33 PM

Profits increase again. Imagine that
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uatide13
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Message Posted: Apr 29, 2012 10:15:22 PM

Exxon will survive
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FrankTA2
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Message Posted: Apr 29, 2012 10:13:51 PM

Gee, I really feel sorry for Exxon, was their billion dollar profits off a couple of million?
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MrLuigi
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Message Posted: Apr 29, 2012 10:10:05 PM

their all stickin' it to us anyway, Chevron maybe more than others...
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bvrbill
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Message Posted: Apr 29, 2012 10:08:48 PM

It's paid off in the short term. We don't know yet if it will pay off over time.
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mattymattmatt
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Message Posted: Apr 29, 2012 10:07:11 PM

Herp Derp.
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WebGabe
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Message Posted: Apr 29, 2012 10:06:41 PM

Time will tell.
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adgam
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Message Posted: Apr 29, 2012 10:05:15 PM

ok
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petrpuck
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Message Posted: Apr 29, 2012 10:05:10 PM

yeah yeah yeah
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slowpoke63
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Message Posted: Apr 29, 2012 10:02:11 PM

ok
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gmcgas
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Message Posted: Apr 29, 2012 10:02:09 PM

big as it appears.
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memo81
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Message Posted: Apr 29, 2012 10:00:31 PM

ok
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radiorumor
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Message Posted: Apr 29, 2012 10:00:20 PM

Natural gas will go up when we are tired of paying high price for oil
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sammy518
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Message Posted: Apr 29, 2012 9:59:42 PM

OK
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Blue48
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Message Posted: Apr 29, 2012 9:59:19 PM

WHATEVER!

[Edited by: Blue48 at 4/29/2012 10:01:09 PM EST]
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Bildawg
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Message Posted: Apr 29, 2012 9:59:03 PM

Well.....ok
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darkknight1
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Message Posted: Apr 29, 2012 9:57:17 PM

And who's paying for their success?
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robaloma
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Message Posted: Apr 29, 2012 9:55:59 PM

great?
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ILANGE9
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Message Posted: Apr 29, 2012 9:51:28 PM

And my life changed today how by reading this?
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ratones1
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Message Posted: Apr 29, 2012 9:47:20 PM

OK...
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babugp
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Message Posted: Apr 29, 2012 9:45:47 PM

k
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ED6
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Message Posted: Apr 29, 2012 9:38:53 PM

For now.
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Message Posted: Apr 29, 2012 9:38:46 PM

ok
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VernonOR
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Message Posted: Apr 29, 2012 9:36:54 PM

Chevron has overpriced fuel.
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raj_fl
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Message Posted: Apr 29, 2012 9:36:49 PM

mmmmmm lets see how this pays off
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raj_fl
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Message Posted: Apr 29, 2012 9:35:53 PM

mmmmmm
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Jeffro61
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Message Posted: Apr 29, 2012 9:35:49 PM

They are all still making a profit, just not as much as their greedy butts would like.
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lmpski
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Message Posted: Apr 29, 2012 9:35:48 PM

...and their Techron is still the best.
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