Here it comes

[ewoden]

The stars allign for another spring gas price hike!!

Chevron Profit Drops 9% as Production, Prices Fall (Update4)

By Joe Carroll

Feb. 2 (Bloomberg) -- Chevron Corp., the second-largest U.S. oil company, said fourth-quarter profit fell 9 percent after energy prices and production declined.

Net income dropped to $3.77 billion, or $1.74 a share, from $4.14 billion, or $1.86, a year earlier, the San Ramon, California-based company said today in a statement. The decline ended a streak of profit gains that began in July 2005.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aFTYP9HW9mL4&refer=home

Feb. 2, 2007, 10:38AM
Oil Prices Inch Up

© 2007 The Associated Press
TOOLS
NEW YORK — Oil prices inched up Friday amid a cold streak in the United States, a major consumer of heating oil. Meanwhile, traders watched for signs that OPEC members were cutting output.
http://www.chron.com/disp/story.mpl/ap/fn/4521348.html


Nigeria: Oil Workers Threaten to Withdraw From Niger Delta
Daily Trust (Abuja)

February 2, 2007
Posted to the web February 2, 2007

Abdullahi M. Gulloma

The leadership of National Union of Petroleum and Natural Gas (NUPENG) and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) yesterday threatened to pull out their members working in the Niger Delta region, saying that the lives of oil workers in the area are in danger.
http://allafrica.com/stories/200702020628.html

Energy Minister attests to compliance with OPEC oil cuts

The Venezuelan Government immediate purpose in the context of the Organization of Petroleum Exporting Countries (OPEC) is "strict compliance with the cuts," agreed upon last December, in order to balance the market, AFP reported.
http://english.eluniversal.com/2007/02/01/en_eco_art_01A831139.shtml

[tblue]

1. Didn't ExxonMoblie just post the highest profits of any corporation ever? I remember someone asking

some rightwing mogul how much money was enough. The answer was, 'It's never enough. I want all of it.'

[rurallib]

3. But their fourth quarter was down from the previous year

SURPRISE!! We didn't elect enough Repubes. Not that that would have mattered. But now when the price breaks $3 it'll be blamed on Pelosi.

[racaulk]

2. A profit drop of 9%, when prior profits were at record levels, is still a lot of money.

Cry me a river, Chevron. You're not hurting at all.