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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
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honda0105
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time will tell.
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DanMtz
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For now it's paying off.
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kgbellman
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Today's heros, tomorrow's zeros
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roadrunnerMO
Champion Author Kansas

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Message Posted: Apr 30, 2012 12:06:20 AM
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Good when oil companies diversify into other energy sources.
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nwsynthetics
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Ill start driving my forklift
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Ron77095
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ok.
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heartbroken2010
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Hmm.
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tampacrvdriver
Champion Author Tampa

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Oil is a beast.
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must87searcher
Champion Author Maryland

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Message Posted: Apr 29, 2012 11:57:27 PM
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If the resource is available, and is widely used (which may be under question), the go for it.
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downstream
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ok
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bobdec
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Message Posted: Apr 29, 2012 11:56:12 PM
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Lets get natural gas cars
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BWJM
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ok
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BobD2009
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I guess Chevron knows how to make a profit. You can't say that with Solyndra.
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granitestater
Champion Author New Hampshire

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Time to convert to nat gas...
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miiike572
All-Star Author Phoenix

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Message Posted: Apr 29, 2012 11:50:37 PM
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Chevron is very proud of their product...look at the price of it.
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TBONE3
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Message Posted: Apr 29, 2012 11:46:19 PM
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As they say, do not put all your eggs in one container!
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lunarrv15
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okay....interesting
thanks for posting
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abacus44
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Message Posted: Apr 29, 2012 11:41:42 PM
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Seems like a good bet so far but perhaps they should be hedging their bets for the future.
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GryphonX
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Message Posted: Apr 29, 2012 11:40:38 PM
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Maybe short term ok...but I think diversification will pay off in the long run.
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papa56NC
All-Star Author North Carolina

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Do it chevron!!!
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umitb
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ok
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miser709
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Obama again?
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TIGERPAW46
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Message Posted: Apr 29, 2012 11:37:02 PM
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The Shale reservoirs can be used to pump Shale oil in lieu of the NG.
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judgemobile
Champion Author Ohio

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Message Posted: Apr 29, 2012 11:37:00 PM
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they would be upset if they were in Nat Gas and prices went down--smaller (still billions) bonuses for the brass.
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KrsnaDragon
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Message Posted: Apr 29, 2012 11:35:11 PM
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Good for Chevron.
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Bezalel
Champion Author Oklahoma City

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Message Posted: Apr 29, 2012 11:34:57 PM
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What about long term?
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min_fuel
Champion Author Philadelphia

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May come back to bite them. We need more energy to drive the economy once Obama is sent back home to Chicago.
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bbigred
Veteran Author Lansing

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Message Posted: Apr 29, 2012 11:33:25 PM
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I'm going to stick with "no oil"
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THZebra
Champion Author Indiana

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Message Posted: Apr 29, 2012 11:28:53 PM
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Thank God Chevron is doing well. I am so proud of them.

As for Exxon-Mobil and Phillips 66, I am worried for them. Hope they recover okay. OMG..I know I will have bad dreams tonight. All I can do is remember them in my prayers.

Maybe when my Phillips credit card statement comes this month I can slip them a few extra bucks to help out.

[Edited by: THZebra at 4/30/2012 12:30:32 AM EST]
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CatMan623
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Message Posted: Apr 29, 2012 11:27:52 PM
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"Peak oil", anyone, to go with your "climate change"...???
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Chris46
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Message Posted: Apr 29, 2012 11:26:40 PM
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A drop in the bucket for Exxon Mobile.
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naiiawah
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Message Posted: Apr 29, 2012 11:23:30 PM
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Does an Oil company ever come up on the short end of the stick?
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METEOR49
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if you're profits are 25 billion and they drop by 11% does that mean we have to have a tag sale for exxon ?
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Rooster922
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Okay
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danreino
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Natural Gas will be slow to catch on since the big semi trucks last soooo many years and are very expensive to replace.
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tedjm1
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Message Posted: Apr 29, 2012 11:19:26 PM
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Too much thought for the profit side. Thought should be given to aid our country in its attempt to grt most everyone working with decent jobs.
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TheeRedRam
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Hummmmm
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frostyWV
Champion Author West Virginia

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Message Posted: Apr 29, 2012 11:18:13 PM
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until natural gas prices go up.
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crreed1
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ok
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Rednix
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Message Posted: Apr 29, 2012 11:17:09 PM
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That may be ok for this quarter but what about long term?
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Bigwaynef
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Message Posted: Apr 29, 2012 11:14:48 PM
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Yeah Buddy and I have plenty of natural gas...
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regout
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The riches makes more money.
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HA4CNN
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Now the opposite will be true when the price of natural gas rises substantially.
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KnoxGasPriceSpy
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it's a gamble...
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Zonk
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Okay for now but, natural gas is here to stay.
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Rageagainsttm
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right
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gmcgas
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big
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yakstar
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zzzzzzzzzzzzzzzzzzzz
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jetskijerry
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& I go to work.
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jetskijerry
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the rich get richer
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