Archive for Chevron

Union Army

The Union Army was the army that fought for the Union during the American Civil War. It was also known as the Federal Army, the U.S. Army, the Northern Army and the National Army.[1] It consisted of the small United States Army (the regular army), augmented by massive numbers of units supplied by the Northern states, composed of volunteers as well as draftees. The Union Army fought and defeated the Confederate States Army during the war, from 1861 to 1865. Of the 2.5 million men who served in the Union Army during the war, approximately 9.5% were African American, about 360,000 died—in combat, from injuries sustained in combat, disease or other causes — and 280,000 were wounded.

Noncommissioned officers of

The 21st Michigan Infantry, a company of William Tecumseh Sherman’s veterans.

Analysts: Thailand’s rice cartel goal will face hurdles

Thailand, the world’s biggest rice exporter, wants to form a rice cartel with four other Southeast Asian countries — Laos, Burma, Cambodia, and Vietnam — to acquire more influence over international rice prices, according to media reports Friday.
In the same way that the Organization for
Petroleum Exporting Countries (OPEC) sets oil prices, members of the proposed rice cartel would cooperate on prices, thereby wielding their influence.
“Firstly and most importantly, this is not the right time to suggest a cartel,” said Arpitha Bykere, an analyst at RGE Monitor
“With the food prices going so high, the World Bank and the United Nations have suggested it’s becoming such a big crisis,” Bykere said. “The international organizations will oppose this [a rice cartel].”
World Bank President Robert Zoellick has warned that high food prices are threatening recent hard-won gains in overcoming global poverty and malnutrition. The United Nations World Food Program has said that high food prices are creating “a silent tsunami” threatening to plunge more than 100 million people on every continent into hunger. … continue reading this entry.

Buffett sees no bank panic, but expects more losses

OMAHA, Nebraska (Reuters) – Warren Buffett on Sunday said he does not expect financial markets to panic as write-downs and losses for bad debts mount in the financial services industry, but said those losses were not over “by a long shot.”

The world’s richest person, who runs Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research) (BRKb.N: Quote, Profile, Research), said at a press conference the Federal Reserve brought markets back from a precipice in March in helping broker JPMorgan Chase & Co’s (JPM.N: Quote, Profile, Research) purchase of Bear Stearns Cos (BSC.N: Quote, Profile, Research), which was on the brink of bankruptcy.

“There’s going to be more pain, sure,” Buffett said. “The action of the Fed, in terms of Bear Stearns, prevented in my opinion the contagion where you’re essentially going to have bank runs on the investment banks … The idea of a financial panic … has been pretty well taken care of. That was a watershed event.”

He added, though: “That doesn’t mean the losses are over by a long shot … We’ve looked at some of the investment banks, and it’s clear some more losses are going to be incurred.” … continue reading this entry.

Chevron net rises 10% on higher oil, gas prices

NEW YORK (MarketWatch) — Rounding out an impressive set of results from the major oil producers, Chevron Corp. on Friday said first-quarter net income climbed 10% as revenue jumped on higher prices for crude oil, natural gas and refined products.
The San Ramon, Calif. integrated oil and gas giant said earnings for the three months ended March 31 increased to $5.17 billion, or $2.48 a share, from $4.72 billion, or $2.18 a share in the year-ago period, which included a one-time $700 million gain.
Revenue rose to $65 billion from $46 billion, as the company’s oil and gas production business grew, even as its refining and marketing results were essentially break-even for the period.
Wall Street analysts expected Chevron (CVX:chevron corp new com
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Last: 95.32+0.38+0.40%

4:01pm 05/02/2008

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CVX 95.32, +0.38, +0.4%) to earn $2.39 a share, according to a survey by FactSet.
“Upstream earnings benefited from a significant increase in the price of crude oil from a year ago,” said Chairman and CEO Dave O’Reilly. “However, market conditions prevented our downstream business from fully recovering these higher costs through the price of gasoline and other refined products.”
Shares of Chevron, which rejoined the Dow Jones Industrial Average ($DJ:Dow Jones Industrial Average
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Last: 13,058.20+48.20+0.37% … continue reading this entry.