Chevron's CEO: Affordable energy is crucial

[Omaha Steve]

Source: AP-Excite

By JONATHAN FAHEY

NEW YORK (AP) - Chevron CEO John Watson notices something important as he visits his company's operations around the globe: Governments everywhere find high energy prices much scarier than the threat of global warming.

And that means the world will need a lot more oil and gas in the years to come.

To meet that demand, Chevron is in the midst of an enormous cycle of investment aimed at extracting oil and gas from wherever it hides in the earth's crust.

Chevron Corp. (CVX), based in San Ramon, Calif., is the second largest investor-owned oil and gas company in the world, and the third largest American company of any type as measured by revenue and profit. Over the last year, Chevron has earned $24 billion on revenue of $231 billion.

FULL story at link.


Read more: http://apnews.excite.com/article/20121227/DA3E8PC02.html

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In this Thursday, Nov. 29, 2012 photo, Chevron CEO John Watson talks during an interview, in New York. Watson, 55, a California native and Chevron lifer, joined the company in 1980 as a financial analyst. Before becoming CEO in 2010 he was vice chairman in charge of strategic planning, business development and mergers and acquisitions. He also ran the company’s international exploration and production business, led the company’s integration with Texaco and was CFO. (AP Photo/Mark Lennihan)

[Rain Mcloud]

1. What he is really saying

is that they need their subsidies and permanent tax cuts.
Or else they will raise the price of everything and hold the recovery hostage.
I say we should give the CEOs,CFOs free room and board in a five star maximum security for profit prison for life as executive compensation for treason against the American People.
Creating a business model that creates poverty for the enrichment of the monied class is surely a crime against humanity and should be prosecuted under the fullest extent of the law just like any other pyramid scheme.

[Kolesar]

2. And US "military" planners predict global warming will cause wars...

...because people will be displaced. For that matter, the military will have to "mobilize" to bring food, shelter and sanitation to displaced populations.

[daleo]

3. Chevron cares about high profits and high upper management pay scales

Nothing else.

They will, in fact, thwart cheaper renewable energy whenever and wherever it arises.

[modrepub]

4. Artificially Cheap Energy

is bad news. If you support the "free" market then the cost of the product should reflect it's actual cost. Bending environmental rules, avoiding taxes and such to "cheapen" the cost prevents the market from finding cheaper alternatives.