Chevron, America's third largest company, may be asked to pay up to $27 billion in damages in a lawsuit arising from oil-drilling related pollution in an Ecuadorian portion of the Amazon rain forest. The damage is the result of 23 years of oil extraction by Texaco, which Chevron bought in 2001, and Petroecuador, the national oil company. A suit was first filed in 1993 in a federal court in New York and, for nine years, the oil company fought for the trial to be held in Ecuador. In a textbook exa
Electric cars have been with us since the very beginning of the automobile age and from that time until now, its most important component has been the battery. It stores energy chemically until it is needed to create the electricity that powers a vehicle's motor. There have been different types of batte
Another year, another record profit statement from Exxon Mobil, the world's largest publicly traded oil company. The specific mind-numbingly large figure is $45.2 billion, which translates to $8.69 per share. While this figure handily beats the previous record of $40.6 billion that had been set by Exxon Mobil in 2007, these huge profits were recorded mostly in the second and third quarters of 2008 when fuel prices were at record levels in much of the world. Fourth quarter earnings fell by 27%, t
Plans for Mercedes to release the ML 450 hybrid in 2009 may very well be canceled. The maker of the nickel metal hydride (NiMH) batteries that
The nation's No. 2 oil producer Chevron had a "disappointing" 4th quarter, earning only $3.77 billion dollars in the closing months of 2006. You may be thinking that $3.77 billion can't be all that bad, but No. 1 oil producer ExxonMobil ended the same quarter with $10.25 billion in profits, nearly tripling its closest rival. Chevron's profit drop of 9% was expected by analysts after total revenue fell from $47.75 billion to $53.79 billion during the same period in 2
When Arnold Schwarzenegger ousted Gray Davis for the governorship during a 2003 recall election, he didn't have much of an inauguration. Economic times were more humble then, and the wealthy movie star apparently didn't want to show off.
A handful of you have spoken out about the details and implications of Chevron and Devon's huge oil field discovery in the Gulf of Mexico. To add to the discussion, here's an article on the matter that Energy Bulletin posted which was written by Randy Kirk, a senior financial analyst at an investment firm in San Francisco.
The New York Times reported that a group of companies led by Chevron announced that an oil field in the deepest regions of the Gulf of Mexico could potentially yield 6 billion barrels of oil.
Chevron announced Thursday it bought a 22 percent stake in a privately held Texas company that is building a biodiesel plant. The plant will be capable of delivering 100 million gallons of biodiesel a year when the facility is completed later this year. That 100 million gallon is probably a drop in the very large bucket that is the production capability of all of Che