Gas profits take off / Earnings streak ahead at Chevron

<http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2004/05/01/BUG0O6E1G11.DTL>

Surging oil and gasoline prices pushed ChevronTexaco Corp. to record profits of $2.56 billion in its first quarter, easily topping Wall Street's expectations.

The San Ramon company reported Friday that profits jumped 33 percent from the same period last year, hitting $2.40 per share. Sales grew 9 percent to top $33.6 billion, fueled by strong growth in the United States and China.

"This is a company that has copious amounts of cash flow," said Paul Larson, a stock analyst for the Morningstar research firm. He owns no ChevronTexaco shares.

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I find it VERY interesting that the profit per share is the same as the ridiculous cost of gas right now. If this scraps a few Bummers, and sells more Prius' that's great.

One would have thought the oil companies would barley survive! But PROFIT? BIG?


wow

Designed to drive oil PROFITS through the roof.

handsomely during the Iraq invasion and occupation!

into the hands of his favorite industries.

While America suffers. Rising gas prices means rising prices on everything. Americans suffer while Bush* and Cheney eat Lobster.

"Thank you for financing global terror."

http://subvert.us/thankyou/

The same thing happened with Bush I's foray into the middle east...IIRC in 1991 I saw gas prices in my neck of the woods at $1.75/gal.