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  • Chevron finally wins city approval for $1B Richmond refinery project  [View news story]
    I'm amazed that Chevron is still in Richmond. It's been there for a looooong time and endures a city council that hasn't been able to keep the city safe for decades. When (not if) it leaves, Richmond will be on "life support". Don't think so? Drive through the city and decide if you would open any legal business there.
    Jul 30, 2014. 05:38 PM | 7 Likes Like |Link to Comment
  • Report: BP, Shell look to sell Australia refineries, gas stations  [View news story]
    Thank you all for the comments.
    Jan 7, 2014. 05:05 PM | Likes Like |Link to Comment
  • Report: BP, Shell look to sell Australia refineries, gas stations  [View news story]
    Is it true that the profit margins on refining are small compared to the rest of the segments in this industry? Does anyone know whether this is particularly true in Australia?
    Jan 6, 2014. 05:59 PM | Likes Like |Link to Comment
  • "One of the biggest risks today in our industry is not credit risk, it's interest-rate risk," says Wells Fargo (WFC +0.9%) CEO John Stumpf, speaking at a Bernstein conference. He says his bank has mistakenly (so far) kept a lot of money on the sidelines, waiting for higher rates to emerge at some time. "Sometime hasn't come yet."  [View news story]
    This is the comment I have been waiting for from the 'talking heads', but particulary the banks. What isn't said is what happens to our country's ability to pay the interest on its horrific debt - $16.7 trillion?

    Let's assume that interest rates go to 5% - not at all uncommon in my lifetime? I argue that the U.S. will not be able to pay the interest. What happens when that takes place will not be a pretty picture.
    May 30, 2013. 01:15 PM | 2 Likes Like |Link to Comment
  • Chevron (CVX) CEO John Watson will face at least four resolutions from activist shareholders at tomorrow's annual meeting demanding his firing. Among the complaints are CVX spending $1.2M in a failed campaign to oust the mayor of Richmond, Calif., where the company operates a major refinery, and trying to avoid a legal judgement on toxic waste in the Ecuadorian Amazon.  [View news story]
    It can be no surprise and it's not illegal for a corporation to support, or not support, an election. Organized labor certainly does the same thing. Chevron provides very good jobs, but one has to have an education and Richmond's schools are no longer what they were before WWII. The company also supports charitable organizations - the Bay Area Rescue Mission being one of several. The radical left hates any organization with money or influence unless it's their own.
    I don't work at Chevron - never have.
    May 29, 2013. 09:34 AM | Likes Like |Link to Comment
  • Richmond, CA plans litigation against Chevron (CVX) over last year's refinery fire and is reportedly aiming to hire Cotchett, Pitre & McCarthy - the same firm which represented San Bruno against PG&E over its gas-line explosion in 2010. No stranger to Chevron, Cotchett Pitre recently filed a class-action suit against the company for defrauding royalty owners.  [View news story]

    Apparently Richmond doesn't realize it needs CVX and its tax dollars, as well as the good paying jobs, far, far more that Chevron needs Richmond. Wouldn't be at all surprised to see the company sell the refinery and bid Richmond bye-bye.
    May 10, 2013. 09:25 PM | Likes Like |Link to Comment
  • Chevron (CVX -0.7%) scores a victory related to environmental litigation in Ecuador. In an about-face, Stratus Consulting now says a report by an independent expert alleging damages to Ecuadorian villagers' health as a result of Texaco's 32-year drilling campaign lacks merit and says it "isn't aware of any scientific evidence" of contaminated drinking water, adverse health effects, elevated cancer rates, or rainforest damage. Chevron claims conspiratorial lawyers and judges are essentially trying to shake it down.   [View news story]
    You mean lawyers and judges in Ecuador aren't honest and even might be subject to something like bribes or the like?. Shocked...shocked I tell you.
    Apr 14, 2013. 09:07 PM | 1 Like Like |Link to Comment
  • Jeffrey Lacker is sticking to his original allegation made in the summer of 2007, as storm clouds gathered over the world's financial system, that then-New York Federal Reserve President Timothy Geithner allegedly informed the Bank of America (BAC) and other banks about the possibility the central bank would lower the discount rate. According to transcripts of the call released by the Fed on Friday, Geithner at the time denied that banks knew the Fed was considering making any cut. Despite the inherent questionability of his actions however, its still not clear if the disclosure would have been illegal.  [View news story]
    Does anyone - and I mean ANYONE - in this administration have ANY integrity. Is there one Democrat in Congress that stand up and say STOP! Are there any Republicans that are bright enough to explain how a 16 trillion debt at very, very low interest rates can destroy our economy when interest rates go to 5% as they are sure to do one day?
    Jan 19, 2013. 09:01 PM | 2 Likes Like |Link to Comment