Trivially, demonstrably false

November 6, 2010

Every penny and more went into bringing energy to the world.

Did it, now? Chevron should spend its time crafting ads that aren’t so blatantly false, and so easy to show…as this was reported on October 29th.

Third-quarter profit fell 1.6 percent to $3.77 billion, or $1.87 a share, from $3.83 billion, or $1.92, a year earlier, San Ramon, California-based Chevron said in a statement today. That’s 28 cents less than the average of 15 analysts’ estimates compiled by Bloomberg.

And where is this profit going?

Chevron plans to spend $750 million to buy its own stock during the current quarter, Jeanette Ourada, general manager of investor relations, said during the call. The company last made buybacks in the final three months of 2008.

Of course, they also report oil exploration…and a $7.5 billion deep water drilling project in the Gulf. And their CEO reports a lot of “pure wildcatting” going on. I didn’t know what this was, so…

Wildcatting is oil-patch slang for drilling the riskiest prospects in virtually unmapped geological formations.

So, give thanks to your corporate oligarchs as they solidify their grasp on power in the country, possibly the real reason ‘second amendment remedies’ were dreamed up in the first place, but it’s not as if liberals will ever indulge in any of that. And the self-righteous, the angry conservatives — they’re too busy harping on social issues and shooting their own feet. Some remedy.


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