Going back up over 4.00 by May
Goddamn gas prices
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These greedy bastards robbed us right in our face last year.
And no shame exploiting it.
And they will be asking Washington DC for more tax cuts.
Chevron announces $75 billion stock buyback, dividend boost
The dividend hike increases Chevron's per share payout to $1.51 per share from $1.42, and will be payable on March 10.
Jesse Pound
PUBLISHED WED, JAN 25 2023 4:34 PM EST
UPDATED WED, JAN 25 2023 5:26 PM EST
www.cnbc.com
Energy giant Chevron announced a $75 billion stock buyback program and a dividend hike on Wednesday evening.
Shares of Chevron were up more than 2% in extended trading.
The buyback program will become effective on April 1, with no set expiration date, the company said in a press release. The dividend hike increases Chevron's per share payout to $1.51 from $1.42, and that will be distributed on March 10.
Chevron's market cap was roughly $350 billion as of Wednesday's market close, meaning that the buyback would represent more than 20% of the company's stock at current prices.
This buyback plan follows a $25 billion plan enacted in 2019. The old plan will be terminated at the end of March. For the third quarter of 2022 — the most recent quarter that Chevron has reported — the company repurchased $3.75 billion of shares.
The new buyback plan comes after a massive year for energy stocks, as a reopened U.S. economy and Russia's invasion of Ukraine combined to drive oil and gas prices higher in 2022. Chevron reported more than $12 billion of free cash flow and $11 billion of net income in the third quarter alone.
Shares of Chevron rose more than 50% in 2022 even as the broader stock market declined.
The financial success of energy companies has led to criticism from politicians, including U.S. President Joe Biden, who threatened higher taxes on energy companies last year for their "war profiteering."
Chevron CEO Mike Wirth told CNBC in December that the company was "in contact" with the Biden administration on a variety of issues.
"Our goal of stable markets and prices that are affordable for the economy is something we share. How we get there, sometimes we have different ideas," Wirth said on "Squawk Box."
And no shame exploiting it.
And they will be asking Washington DC for more tax cuts.
Chevron announces $75 billion stock buyback, dividend boost
The dividend hike increases Chevron's per share payout to $1.51 per share from $1.42, and will be payable on March 10.
Jesse Pound
PUBLISHED WED, JAN 25 2023 4:34 PM EST
UPDATED WED, JAN 25 2023 5:26 PM EST
Chevron announces $75 billion stock buyback, dividend boost
The plan comes after a massive year for energy stocks, as a reopened U.S. economy and Russia's invasion of Ukraine combined to drive oil prices hire in 2022
Energy giant Chevron announced a $75 billion stock buyback program and a dividend hike on Wednesday evening.
Shares of Chevron were up more than 2% in extended trading.
The buyback program will become effective on April 1, with no set expiration date, the company said in a press release. The dividend hike increases Chevron's per share payout to $1.51 from $1.42, and that will be distributed on March 10.
Chevron's market cap was roughly $350 billion as of Wednesday's market close, meaning that the buyback would represent more than 20% of the company's stock at current prices.
This buyback plan follows a $25 billion plan enacted in 2019. The old plan will be terminated at the end of March. For the third quarter of 2022 — the most recent quarter that Chevron has reported — the company repurchased $3.75 billion of shares.
The new buyback plan comes after a massive year for energy stocks, as a reopened U.S. economy and Russia's invasion of Ukraine combined to drive oil and gas prices higher in 2022. Chevron reported more than $12 billion of free cash flow and $11 billion of net income in the third quarter alone.
Shares of Chevron rose more than 50% in 2022 even as the broader stock market declined.
The financial success of energy companies has led to criticism from politicians, including U.S. President Joe Biden, who threatened higher taxes on energy companies last year for their "war profiteering."
Chevron CEO Mike Wirth told CNBC in December that the company was "in contact" with the Biden administration on a variety of issues.
"Our goal of stable markets and prices that are affordable for the economy is something we share. How we get there, sometimes we have different ideas," Wirth said on "Squawk Box."
Gas prices on the rise again . WTF back over $5 a gallon around here on average.
www.abc10.com
Gas prices increase: California tops list of most expensive prices
According to AAA, California's $4.44 price at the pump is one of the top 10 most expensive nation-wide.
www.abc10.com
Gas prices on the rise again . WTF back over $5 a gallon around here on average.
Gas prices increase: California tops list of most expensive prices
According to AAA, California's $4.44 price at the pump is one of the top 10 most expensive nation-wide.
It makes sense to switch to electric in California.
Today's AAA
California Avg.
$4.732
Price as of
2/20/23
Today's AAA
New Jersey Avg.
$3.273
Price as of
2/20/23
Today's AAA
New York Avg.
$3.486
Price as of
2/20/23
Today's AAA
California Avg.
$4.732
Price as of
2/20/23
Today's AAA
New Jersey Avg.
$3.273
Price as of
2/20/23
Today's AAA
New York Avg.
$3.486
Price as of
2/20/23
Here in Chicago - $4.10gal
Heads up, over the last 12 hours OPEC cut production.
The tweet below is right. Biden used up Oil reserves the last time
to keep prices stable. (I think he did that 2-3 times)
Anyway, can't do it now.
So, as you head out this Monday, might want to gas up if you're low.
I didn't listen to this thread before, and lost $$
Heads up, over the last 12 hours OPEC cut production.
The tweet below is right. Biden used up Oil reserves the last time
to keep prices stable. (I think he did that 2-3 times)
Anyway, can't do it now.
So, as you head out this Monday, might want to gas up if you're low.
I didn't listen to this thread before, and lost $$
Last edited:
OPEC Announces Global Supply Cut Just In Time For Summer
Just like a bunch of Gangsters.
Just like a bunch of Gangsters.
Dey mad the world is going Electric.
US and the Russkies are behind.
They missing out on money and trying to become a tourist destination to make up for it.
A record-setting 43.2 million Americans are expected to travel by car this holiday weekend, according to AAA. That's 2.4% higher than last Fourth of July.
And yet gasoline prices are much lower. The national average for regular gasoline dipped to $3.55 a gallon on Thursday, according to AAA. A year ago, a gallon of regular sold for an average of $4.87 a gallon.
Florida's average on Friday was $3.30 a gallon. A year ago it was $4.61.
That kind of price drop is almost unprecedented.
During the week ending June 26, the national average gas price was $3.57 a gallon, according to the US Energy Information Administration. That's down by $1.30, or 27%, from the same period last year.
This is the second-biggest one-year price drop in the week before the Fourth of July since EIA data began 33 years ago, according to John LaForge, who leads real asset strategy for the Wells Fargo Investment Institute.
The only bigger 12-month drop occurred during a historic downturn: the Great Recession. Gas prices plunged by $1.45 a gallon, or 35%, between June 30, 2008 and June 29, 2009.
And yet gasoline prices are much lower. The national average for regular gasoline dipped to $3.55 a gallon on Thursday, according to AAA. A year ago, a gallon of regular sold for an average of $4.87 a gallon.
Florida's average on Friday was $3.30 a gallon. A year ago it was $4.61.
That kind of price drop is almost unprecedented.
During the week ending June 26, the national average gas price was $3.57 a gallon, according to the US Energy Information Administration. That's down by $1.30, or 27%, from the same period last year.
This is the second-biggest one-year price drop in the week before the Fourth of July since EIA data began 33 years ago, according to John LaForge, who leads real asset strategy for the Wells Fargo Investment Institute.
The only bigger 12-month drop occurred during a historic downturn: the Great Recession. Gas prices plunged by $1.45 a gallon, or 35%, between June 30, 2008 and June 29, 2009.
US Gas Prices Expected To Become More Affordable
Inflation will soon be normal and gas prices will probably keep falling. What will be the new Maga excuses then?MAGA - "These gas prices are all Joe Biden's fault."
It'll be right back to culture war, tax cuts, and dog whistle politics. At's all they know.
Pump Switching: Police Warn Drivers Of Growing Scam At Gas Stations
I have seen prices below for gasoline under $3/gal in parts of Washington, Idaho, Utah and Northern Nevada over the past month.
The price is slowly dropping in lower western states, not as fast as the northern states.
And we know if prices were going up, Biden would get the blame….but now that they are dropping….Pure Silence.
America is pumping so much oil that gas could be below $3 by Thanksgiving
The oil market is in another tailspin. Producer group OPEC+ is scrambling to stop the bleeding. And gas prices are falling fast, with more to come. All of this is music to the ears of drivers. US gas prices fell to a fresh six-month low of $3.31 a gallon on Thursday, down 50 cents from this point last year, according to AAA.
By Matt Egan, CNN
September 6, 2024
amp.cnn.com
The price is slowly dropping in lower western states, not as fast as the northern states.
And we know if prices were going up, Biden would get the blame….but now that they are dropping….Pure Silence.
America is pumping so much oil that gas could be below $3 by Thanksgiving
The oil market is in another tailspin. Producer group OPEC+ is scrambling to stop the bleeding. And gas prices are falling fast, with more to come. All of this is music to the ears of drivers. US gas prices fell to a fresh six-month low of $3.31 a gallon on Thursday, down 50 cents from this point last year, according to AAA.
By Matt Egan, CNN
September 6, 2024
Sub-$3 gas is making a comeback. Dozens of states could be below $3 by Thanksgiving | CNN Business
The oil market is in another tailspin. OPEC+ is scrambling to stop the bleeding. And gas prices are falling fast – with more to come.
