Market Trends at Chevron

Paper Summary:

The paper reveals that oil companies have seen record breaking profits and questions whether these kinds of profits can last for a sustained period of time. The paper relates that Chevron has begun to see slight problems with production as it has become harder to find new oil fields to exploit, but oil companies have developed technologies to help them search for new oil deposits. The paper concludes that Chevron's trend toward profitability looks like it will continue, simply because the demand for oil will continue to increase for the foreseeable future.

From the Paper:

"Over the last several years, Americans have gotten an education as to the depth of their dependence on energy sources available to them, and specifically oil. There was a time in our recent past when paying two dollars a gallon was considered outrageous. Well, oil prices have ballooned over the last couple of years and now Americans are looking at routinely paying four dollars or more per gallon for the foreseeable future. Furthermore, many economists are saying that these prices will seem like a great bargain to us in the near future. Just over a year ago, crude oil at a hundred dollars a barrel seemed to be a threshold that could not be crossed. Today, crude oil routinely approaches $120 a barrel and nobody seems to bat an eye."

Sample of Sources Used:

• Domash, H. (2006, December 20). "10 Stocks to Hold Forever - Almost." http://articles.moneycentral.msn.com/Investing/SimpleStrategies/10StocksToHoldForeverAlmost.aspx
• Liedtke, M. (2008, May 3). "Chevron's 1Q Profit of $5.17B Marks Big Oil's Latest Gusher." http://www.huffingtonpost.com/2008/05/04/chevrons-1q-profit-of-517_n_100022.html
• Mufson, S. (2006, April 21). "The Battle Over the Blame for Gas Prices." Washington Post, p. A01. http://www.washingtonpost.com/wp-dyn/content/article/2006/04/20/AR2006042000594.html
• Schoen, J. (2004, December 20). "Can Technology Help Find Oil Fast Enough?" MSNBC. http://www.msnbc.msn.com/id/6072980/

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