Don’t mean to beat a dead horse, but One on Fuel from the Big Man

Submitted: Tuesday, May 16, 2006 at 18:20
ThreadID: 33948 Views:1596 Replies:3 FollowUps:3
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The Chevron/ Texaco/ Caltx CEO did a interview on the American news this morning Surprisingly!!, and even took some viewer questions.

To sum it up he more or less side that prices should stabilise in the next few months.

Along with demand outstripping supply (China and India not helping), exploration isn’t cheep; Oil isn’t as cheep to extract as it used to be and so. Also Government taxes.

Also made a comment to Bio diesel (I.E it’s good and should start being taken more seriously) and Ethanal blends for ULP as well.

Yep the thing’s you see when you get up at the ungodly hour of 4:00am for Work.

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Reply By: robak (QLD) - Wednesday, May 17, 2006 at 11:32

Wednesday, May 17, 2006 at 11:32
Even with the greater cost of extraction, govt taxes etc, they still make more money then they ever did before. He did'nt mention that did he?
AnswerID: 173119

Follow Up By: Exploder - Wednesday, May 17, 2006 at 18:18

Wednesday, May 17, 2006 at 18:18
No he didn’t but the interviewer did.

He said that something like 20% of their profits come from Fuel sales, I think that would be about right as Oil is used for a lot of other stuff and not just ULP and Diesel.

It was funny but they showed some American guy putting some “GAS” in his car and he only got 3.5 Gallons or something for $10 so what’s that like 13 Litres out of $10!!! Gee talk about a rip off LOL

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Reply By: Steve - Wednesday, May 17, 2006 at 19:11

Wednesday, May 17, 2006 at 19:11
I'm sure I'm missing something here, but surely the Chinese/Indians aren't paying as much as we are for oil. That being the case, why is their "demand" (at probably a fraction of what we're paying) allowed to influence and push our prices so high?
AnswerID: 173189

Follow Up By: Exploder - Wednesday, May 17, 2006 at 19:26

Wednesday, May 17, 2006 at 19:26
As they are in a big boom time at the moment with industrial growth ECT so there demand for energy/ Fuel is big I.E OIL, We the West are helping this boom by getting stuff manufactured in China and importing cheep copy of other more expensive products and selling them hear, we what cheep stuff China is supplying it and we are loving it< We are basically shooting owe self in the Foot as well as costing Australian jobs and brandnames.

There are a lot of Business deals taking place in China now as well as a lot of Chinese’s businessmen snapping up luxury properties around Australia.
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Follow Up By: Member - Andrew W (SA) - Wednesday, May 17, 2006 at 19:28

Wednesday, May 17, 2006 at 19:28
India does produce some of it's own, by Government owned co's and subsidises some fuels - perhaps most fuels for domestic use.
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Reply By: Member - ROTORD - Thursday, May 18, 2006 at 04:26

Thursday, May 18, 2006 at 04:26
Chevron - market capitalization [ what it would cost you to buy it ] $US135.8 billion , last years revenue $US193.6 billion , profit $14.1 billion [ 7.3 % ] .

Share price $60 , up 18.6% this year .

National Australia Bank profit paid as dividend about 8.4% , share price rise this year about 19% .

Chevron shure spread a lot of money around to make their profit , and in future will have to spend even more as the private enterprise companies compete for diminishing prospect leases and endure higher production costs .

AnswerID: 173277

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