Chevron's 4Q Profit Soars to Record High ($4.14 billion)

[Sandpiper]

Nope, no price gouging here.


Jan. 27, 2006, 9:55AM
Chevron's 4Q Profit Soars to Record High


By MICHAEL LIEDTKE AP Business Writer
© 2006 The Associated Press

SAN RAMON, Calif. — Chevron Corp.'s fourth-quarter profit climbed 20 percent to $4.14 billion, a company record that continued the most prosperous stretch in the oil company's 126-year history as it capitalizes on high fuel prices that are squeezing consumers and ruffling politicians.

Its profit of $14.1 billion for the full year was also a company record.

The San Ramon, Calif.-based company's earnings for 2005's final quarter, released Friday, represented the most it has made in any three-month period since its inception in 1879. The performance edged the $4.13 billion earned during the second quarter of 2004 _ the early stages of a two-year boom.

Chevron now has posted record annual profits in each of the last two years, earning a combined $27.4 billion.


http://www.chron.com/disp/story.mpl/ap/business/3617208.html

[bikeboy]

1. Yah...

And they contest their tax bill for our local schools...makes me sick...

[phusion]

2. Maybe Bush will step in and regulate these companies

:rofl:

:rofl:

[SpiralHawk]

3. While Republican Oil Crony Corps get filthy rich

The citizens of the USA suffer, and -- led by Kommander AWOL -- the economy is headed into the crapper.

Thanks a pantload, Bush.

GDP Nosedive Could Handcuff Bush (no "good economy" to spin at SOTU)


http://abcnews.go.com/Business/story?id=1548547

Jan. 27, 2006 — A surprising government report this morning showed U.S. economic growth slowed considerably in the fourth quarter of 2004, an indication that skyrocketing energy prices were hitting consumers' wallets and slowing spending.

<snip>

DU discussion
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2069436

[Marie26]

4. Halliburton also posted record profits for 2005

What a coincidink.

[Sandpiper]

5. As did Exxon-Mobil

War is great for business.


http://www.bloomberg.com/apps/news?pid=10000103&sid=aloWGlc5qous&refer=us

[Hyernel]

6. Maybe we could get them to answer questions under oath?...

....Naw! That'd be too much pressure for those poor wittle, sensitive oil billionaires.

I'll just go get gouged $2.50 a gallon and be a "proud Ah'murikan"

Theory: FREE crude oil is being smuggled out of Iraq by Halliburton and just "transferred" to oil companies who DO NOT pass the saving on to the consumer. This is where the record profits come from.

[merwin]

7. kick

:kick:

[Ernesto]

8. Chevron spouts record profits

The San Ramon (Ca)-based oil giant reported a net income of $4.14 billion in the last three months of 2005 and a profit of $14.1 billion for the year. The total likely would have been higher had the company not reported an estimated $1.4 billion in damage from the Gulf Coast hurricanes.

"They're having a very good year, and that money is coming out of your pocket,'' said AAA of Northern California spokesman Sean Comey.
"It's a pattern,'' said Comey, the AAA spokesman. "Prices go up, consumers get angry, politicians investigate, nothing changes."
.....California Democratic Sen. Barbara Boxer, who attacked oil industry executives when they appeared before Congress, blasted them again in a statement issued Friday.
"I call on the Bush administration and the Federal Trade Commission to put an end to this price gouging," Boxer said. "You'd think FTC stood for 'Friend to Chevron' with the way they sit back and let these companies gouge consumers."

http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2006/01/28/MNG1KGV3O21.DTL

[pdurod1]

9. Cheney energy task force: all is going to plan

[ckramer]

10. Big Oil Keeps Chugging With Chevron's Record Quarter (Earnings Rise 20%)

Chevron Corp.'s fourth-quarter profit climbed 20 percent to $4.14 billion, a company record that continued the most prosperous stretch in its 126-year history as the oil company capitalizes on high fuel prices that are squeezing consumers and ruffling politicians.

Its profit of $14.1 billion for the full year was also a record for Chevron. It now has posted record annual profits in each of the last two years, earning a combined $27.4 billion.

link

[gizmo1979]

11. I wish Chavez would undercut

them and put them all out of business.

[libodem]

12. Somehow out of all the news this makes me the sickest

Really bothers me. A lot.

[brentspeak]

13. A rising tide of price gouging and corruption lifts all yachts