37 Burst results for "Chevron"
Fresh "Chevron" from WTOP 24 Hour News
"To try Chevron. Human energy company 5 48 traffic and weather on the eighth Stateville dine in the traffic center. No major incidents reported across the region. Couple question marks in Maryland South bound 95 here 1 98 Had an incident reported had delays confirm not sure what that's about. They found the motorcycle on Route 50. They didn't find a driver, though. So fire rescue moved on westbound. It's on the shoulder near 4 10 No delays on 50 from northeast Washington to the eastern shore, slow traffic on the Internet through land over that's because of the wet pavement, But the rain is largely ended there for now, at least, 2 70 is OK between Rockville and Frederick. The crash on 70 eastbound before 75 new market is gone. And in Virginia on 3 95 and 95. Unwinding now getting a chance to dry out a little bit between Springfield, Lorton and Woodbridge still slow both ways on 95 especially but with the weather improving. And with no major incidents blocking, we are much better off and Herndon the closure of Bennett Road between Fox Mill Road in West Ox Road for downed wires, not storm related and in the district. Another one of those question marks DC to 95 North bound past Pennsylvania Avenue. It's usually slow there, but it's too slow right now. Something's been going on there Benning Road, but haven't yet identified that. In southern Maryland. We still have the road closures for the tropical storm flooding from earlier this week, Route five point Lookout Road near ST Clement's Creek and also Mechanicsville Route six east of Route five in Hugh's Ville. It's a stretch of Brandywine Road closed north of 2 31 Dave Golden. W T o p. Traffic extent afeard. There is still a risk of flooding out there, huh? There is and they were watching some very heavy right now across portions of Maryland. I really don't need to see the heavy rains of the heaviest fighting right around the ACA Kiki.
Tech giants lead gains as S&P 500 closes 4th winning month
"Giants lifted stocks. To end the week on a high note. The Dow closed up 115 points 1150.4%. The SNP gain 3/4 of a percent. The NASDAQ added 1.5% blowout. Earnings in the tech sector offset the worst losses in decades. Among oil giants, Chevron and Exxon Mobil, Chevron dropped more than 2.5%. Exxon, which pledged to keep paying out a dividend to shareholders. Gained half a percent.
Fresh "Chevron" from Gary and Shannon
"No gas gets better mileage in Chevron and Texaco. Other restrictions and exclusions apply partly sunny skies highs in the seventies from the coast to the basin eighties for the valleys, and I e. This report brought to you by Albertson's traffic slow on the 1 10 in south L. A North outside seeing delays coming away from just past the 1052 about exposition and then against selling right there. The one on one stuff inside also been heavy from exposition out to burn in Stuff outside of the one of one's going to slow down, coming away from Hollywood from sunset over to the 1 10 5 Still seeing delays from Glendale Boulevard Open on over to the 60 and again some slowing from Washington over to the 605 inside Bunches up from Norwalk full of art, 605 and things are getting a bit heavy in Corona north side of the 15 from just past the Mescal Canyon over to right before you get to L Street, a road. This report is sponsored by eye accident lawyer dot com in the sky hopes get you there faster. I'm Jalen Settlement alert. 3.395 million for motorcycle victims suffering severe injury to left ankle Rip Fracture injury Go 001 Attorney Robert results very not a guarantee on mobile filter yield in daytime Max Fire season is here. It's time to call Sunfire Defense. Sunfire has a durable thermal coating that creates a barrier against fire and radiant heat. It dries and Visible and non toxic and if you're ordered to evacuate,.
Exxon, Chevron down in second quarter as oil use dries up
"With the economic outlook in doubt, the University of Michigan's consumer sentiment index declined. Aah, look at consumer spending for last month finds more of it. Spending up 5.6% in June. We've got some push and pull of Ernie's results. Caterpillars cost cutting help make up for slowing sales, but concerns about second waves of the Corona virus weighed on prospects for the rest of the year and Caterpillar down 3.5%. Exxon and Chevron both sharply lower. That is pulling the Dow down despite Applegate Ng 6.5% today, right now, after it posted better than expected quarterly
Oil giants lost billions as pandemic crushed demand for fuel
"It is all about oil companies. They're losing billions on the 12 punch of both over supply and pandemic. Demand drops both Exxon Mobil and Chevron earnings Well, they reflect that our own scarlet fu is here with more Scarlett. What were some of your key takeaways? Around some of these oil giants reporting and just the losses that they're reporting. It was a pretty ugly day for big oil. You know, there was a time when Exxon Mobil was the most valuable company in the S and P 500. Those days are long gone. And if you look at Exxon Mobil today in its market cap, it is worth 1/10. Of what Apple is worth, and I bring this up because both Apple and Exxon Mobil reported earnings over the last 24 hours, and ExxonMobil's results look very different from what we heard from apple. Okay. So example one Chevron. They both had this integrated business model that is meant to protect them. No matter of oil prices rise or fall, So that means for the upstream business, they have oil exploration and production. I also have a downstream side. The business which is refining and chemical units in the second quarter, however, you can see production got hit because of lower oil prices, and the refining and chemical units also got hit because of lower demand for things like jet fuel, gasoline and plastic wrap that uses oil as a raw material, and in fact This is stunning. Exxon Mobil generated zero cash from operating activities in the second quarter. This is a massive company, and it generated zero cash from his operating activities. All that resulting in some pretty steep losses exam over reported a $610 million loss in the first quarter and even bigger loss in the second quarter. There are $1.1 billion Look at Chevron's numbers $8.3 billion deficit in the second quarter. That is two times the amount it made in the year ago period. And by the way, Chevron also wrote down a lot of its assets at $5.7 billion in oil and gas assets. I mean, these numbers are so big it just I had to look at it. A couple of times three or four
Chevron Agrees to Acquire Houston-Based Noble Energy
"Panda panda Maket Maket major major deal deal making making in in the the energy energy sector. sector. It's It's the the biggest biggest deal deal to to be be announced announced in in the the industry industry since since oil oil prices prices plunged plunged in in March, March, crushed crushed by by Corona Corona virus virus shutdowns shutdowns and and a a face face off off between between Saudi Saudi Arabia Arabia and Russia. Chevron acquiring Houston based oil and gas producer Noble Energy in a roughly $5 billion all stock take over This will expand Chevron's present in top U. S. Shale fields in the Southwest and also give the California based corporation assets in the Mediterranean and West Africa. Lillian
Stocks mixed early Monday even with coronavirus-vaccine hopes high
"As Wall Street ways prospects for a new Corona virus vaccine and lawmakers begin talks on new stimulus measures. Amazon shares gained more than 1% in early trading. Katie Rich money Mad Passion, says Houston oil company is being bought by Chevron stocks are trading mixed with games and technology issues being offset by weakness and utilities, as well as Industrial's shares, a Houston based noble energy are in the spotlight. The companies agreed to a buyout from oil giant Chevron. The deal worth roughly $13 billion. The Dow is down 59 but the S and P is up eight. NASDAQ is up 113. The oil future contract at 40 52.
Sasol shares climb more than 20.5%; Braskem shares fall 2.3%
"South Africa's Sasso is quite more than twenty and a half percent people familiar with the matter said the oil and chemical companies receive multiple offers for a stake in a Louisiana plant they said the suitors include LyondellBasell industries and a joint venture of chevron and Phillips sixty six Brazilian chemical company Braskem has fallen two point three percent after being cut to neutral from buy at UBS the firm side a thirty five percent gain in the ADRs underlying shares since mid may when the firm raised Braskem to body from
You can finally play Maxis' long-lost 'SimRefinery' oil simulator
"Markovic from ars Technica wrote a story about maxis business solutions of course Max is the maker of Sim city created this business solutions in the wake of the success of Simcity to make simulators for business use. Chevron was one of the companies that engaged that division wanted. Max is to make a simulated oil refinery not for training purposes because it just wouldn't be. Safe to do that, but to help. Employees at its Richmond California plant understand how the entire refinery worked to say like. We're not going to train you on every job here, but this gives you a sense of how these jobs are all interdependent, so in Nineteen ninety-two maxis made a prototype game called Sim refinery. Librarian and archivist Phil Salvador tried to find a copy, but it seemed like it was lost forever. He found lots of references, but couldn't find the actual code until an ars technica reader hearing about Salvador's efforts in the Technica. Posted to the comments with an image of Sim refinery on a three point, five inch disk that he said belonged to a retired chemical engineering friend. Poster call themselves. Post bebop and promised to try to recover the disk, and after apparently some annoying extraction. Did so on Thursday return to ours comments, saying that the code had been posted at archive dot. Org as part of its playable Dawson. Now play the incomplete but existing game of Sim
Oil prices fall on doubts over output cuts, surging U.S. diesel inventories
"Oil they're retreating from the three month high OPEC plus unity is being threatened by law already sealed over compliance when it comes to production cutbacks meantime US data is casting doubt on the strength of demand recovery as well let's bring in a J. T. D. energy services services director director John John Driskell Driskell joining joining us us with with more more John John thanks thanks for for joining joining us us you you know know the the stunning stunning rally rally seen seen in in crude crude for for Brent Brent basically basically we we touched touched briefly briefly about about forty Bucks and basically we come back from seventeen dollars just a month ago how far can we go in this group rally right now is a more upside thank I would prefer my optimism if you could surge to forty dollars but it was short lived and a lot of the momentum behind me was based on the signals we're receiving about the poem OPEC meeting which is supposed to be held on the ninth of June on the whole idea was what the deal would be one point seven million perilously close with each step further because if someone's exactly between the Saudis and the Russians quickly with extra mushrooms and in fact the wooden bowls the meeting criminals who made a lot of sense everybody to talk about it resolve it for you that way you could send a signal to customers who July here's what was beautiful and moving forward but several we have this a breath only yesterday that the also in the meeting was called off it's going to be postponed or rescheduled for later and so when the focus is on the so called lawyers the I could be wrong a link has extra money Julia wait I think what you have to do is to look at his murder trial collated and market demand hopefully recovers you can see how much more intense competition the crew members markets will be the lord Collins of the sponsors like major area all right group because of the length of the title what is the market need to hear from OPEC plus here sensually it isn't what the Saudis are proposing where we need to extend those curves up to three months or the Russians have a point here that you know as economies re open demand is picking up again maybe we just need to extend for one month all the employees of the service call center there are yeah and is returning we've been doing a lot of bottom fishing he's cool crisis caused by third base I stopped the Russian Urals we're sorry Colaco who took the controls and soon a surgeon physical the marvelous okay we can copy paper for he's still on the conservative side Merkel I'm still on the ground because through the end of the year so one of us needs to do which is the one more knowledge was terrible it fell apart Michelle back walks on the meeting it's gonna be a stronger sense of compromise with the realism that allows us to be school because for the nine point seven five scored five it'll be civil read more the latest things are opposites one month and that's underwhelming the same term it's understandable they need to crack down on the on the outliers who who are over producing you couldn't see three months of a local court you can only spend the visual agendas of the Russians get excited about blasphemous because the physical demands well don't get too excited don't cha think well let's suppose he cooled stainless phone for at least three months just chill size shale production is bad given that oil is about thirty a barrel and how will this play out in terms of supply and prices world world has gone coming off any we'll exporters immediately he prefers home girls with a cream cold credentials and others call on political I hope we can achieve a permission from the court last week that's because some people have been through a number of cities also cross off of almost two million also day and that's been strictly voluntary medicine driven by economics that yeah this is on the rise produces from even going well so there's some concerts since Christmas thirty five forty dollars this is going to provide a signal with some shale producers to relaunch could actually set headline says Sarah E. O. G. because we were sure sure Sir we have to restart from some of the help is if you look at the pretty close all the loopholes on the shelves BP's ensure ground he announced moments across multiple expenditures from hopefully some room because it's difficult to protect their digital mobility social okay transaction size for this in the case of chevron overlaying all star I mean those people experts also growing expenditure are not going to be fun to go through with this song keep expectancy continues to drop off in breast reduction reducing other non OPEC countries like Norway announcing massive cuts in this morning so it is fun to show producers I don't know if that's what they're going to switch back on the magically restore production I think going forward it to the end of the year because he got a little off before
Oil slides on U.S.-China tensions
"Of tensions rising tensions with China tenure of seven thirty seconds the yield their point six seven percent gold up two tenths of one percent seventeen thirteen Beyonce and West Texas intermediate crude oil is down now by four point six percent thirty two seventy seven a barrel among some of the oil names they were seeing Exxon Mobil down one tenth of one percent B. P. is up by three percent shares of EOG resources are up by one point four percent and pioneer natural resources the ticker on that P. X. D. it is down now by just about four tenths of one percent chevron announcing those job cuts today chevron shares up by two tenths of
Historic Oil Bust Delivers A Gut Punch To 1 High-Flying Texas County
"People in the oil business are familiar with the cycle of boom and bust prices. Soar prices plunge but they've never seen anything like twenty twenty when the pandemic abruptly brought prices to record lows even below zero. Npr's John Burnett reports from the Permian basin the heart of oil country in West Texas on a normal day in Andrews County look in any direction and stretching to the horizon. You'll see bobbing horseheads of pump. Jacks sucking up oil from deep in the earth but these are anything but normal days right. Now it's scary honestly Linden pertain. A well technician standing in Mesquite. Scrubland that overlays. What experts call a Monster Oilfield? We drove out here. Usually you'd see you with all these good wells. That historically have done a lot of production. They would usually all pumping and kind of looks like caterpillars all running across the landscape. You know and that's not happening right now. All across the vast permian that straddles West Texas and southeast New Mexico. Wells have been shut in in the Argot of the oil patch. American oil companies are pumping a million fewer barrels a day than were just two months ago. According to the Energy Information Administration all the big players out here Exxon Mobil Chevron conaco Phillips have slashed for Andrews County. The effect has been cataclysmic. The county is considering layoffs and the city of Andrews will hold off repairing streets and building a new city hall when you have a community that receives about eighty five to ninety percent of their tax revenue for minerals. It's a serious threat. County Judge Charlie Falcon follows the news. And here's about other cities. Taking a hit from closed. Businesses and Hospitalizations Andrews has had only twenty one cases of covert nineteen and most people have recovered. Nonetheless was Texas is getting a double dip of trouble. Not only do. We have all drop. We have corona virus. And we don't know how long it's going to stay around. You know what people not working not been able to shop not being able to you now sell oil Creates SERIOUS PROBLEM FOR US? Bob Stewart's welding and machine shop. His lost half its business amid the paralysis in the oil patch. A few jobs keep trickling in stewardess Paul and lumbering and jovial. He's done this for nearly forty years. He survived downturns before. But he says he's never seen demand if that rate like this whole world. There's no airplanes fly. There's No car driving cruise ships cruising. There's no summer vacations. Golic's we're producing a lot of oil for a world. That's not using not consuming Bob Stewart is grateful that he has not had to lay off any of his hundred ten employees. He got more than a million and a half dollars through the federal government's paycheck protection program. But that's not going to last forever. It's kind of nine eleven you over. You know what I don't know what it looks like. What comes out. The other side is going to be different with more than twelve thousand active whales in Andrews County. Hydrocarbons have been good to this community. There's an air conditioned Rodeo. Arena a waterpark and new little league baseball diamonds. The schools have a planetarium and an Olympic sized swimming pool. All over town. Grieving motorcycles and ski boats are parked in driveways and behemoth pickup trucks. Roar Down Main Street though the one two punch of the pandemic and the oil bust have left the region staggering. It should not have come as a complete surprise. Every oil addicted town has been before I've been interviewed by the media three times and every time it's when Andrews is on the map for some dubious reason with the Economy Russell Shannon President of the National Bank of Andrews says established companies. That saved for a rainy day. Will weather this bust a lot better than others as I. Try to tell some the younger ones when they try to get in the business. There's a storm cloud out there just because you don't see it today doesn't mean there's not one on the horizon. I mean we've just historically we've seen it too many times. The oilfield workers with six figure salaries thought it would never end. Even though it always does Mighty O. Fernandez was laid off three weeks ago. As a workover rig supervisor now he's realizing just how good he had it. While I've noticed so much didn't realize how much I spent when I was at work breakfast lunch. Taking guys out to buy food. You know of course you want to you know. Give your guys. Hey good job in here here. Some steaks baked potatoes or something for doing you know working to butts. Fernandez sits on his front stoop and Andrews having a smoke and catching the night air after a scorching hundred and four degree day. Now he stays home helps his teenage son with his homework and he tries to keep a positive attitude. I used to worry a lot The Bible says not to worry about what tomorrow because we don't even know we're GonNa make it more so I just have faith and just believing that it's GonNa come back together. The question is when and how long folks can hold out John Burnett. Npr News Andrews Texas.
Nasdaq finishes higher as stocks stage late-day rally
"Stocks have kicked off the week on a positive note rallying late in the session to close higher Dow finishes up twenty six nasdaq up a hundred six SNP five hundred up twelve the late upside push came as crude oil futures gained for a fourth straight day rising more than seven percent back about twenty one dollars a barrel energy stocks were the biggest gainers the S. and P. five hundred led by Exxon Mobil and chevron thanks to that oil surge but U. S. airlines were hit hard after Warren Buffett said over the weekend the Berkshire Hathaway has sold off all its shares in the top four U. S. airlines American delta United and
Shell cuts dividend for first time since WW2
"Better week in the oil patch as the publications roundtable looking hard at Valero Energy Phillips Sixty six Chevron Canadian Natural Resources Williams Companies Shinya Energy Enterprise Products Partners Magellan Midstream partners conical phillips the cover story digs in on how the economic recovery will play out with spending consumer staple stocks and essential retailers with open stores are seen outperforming in the new environment as well as companies that have good liquidity and can grow their online sales. That list of pandemics survivors includes Walmart Nike Costco. Lowe's target urban outfitters dollar general. Last week saw Royal Dutch. Shell cut their dividend for the first time since World War Two and that's the stock recovery on this week's single stock focus. The Prophet Hunter wrote an article on Saturday about the dividend cut and said quote buyers. Beware Royal Dutch. Shell Asia's closed Friday at over thirty one dollars and the b-shares closed just under thirty dollars. The Prophet Hunter starts out by discussing energy transitioning to renewables and then talks about why this cycle may be different while some anything we could see an oil and gas megamerger wave. I believe they may be disappointed. At least in the short medium term listening to energy majors earnings call over the last couple of weeks suggest. Management teams are prioritizing the deployment of capital in the renewable energy sector where we could see the direction of travel for. Ma is towards acquiring utilities or renewable power producers in two thousand eighteen total acquire direct energy of French Electric Utility this followed their 2016 acquisition of saft a battery maker for over a billion dollars. The company plans to start producing batteries by twenty twenty three Prophet Hunter then goes on to discuss shells dividend cut when Shell announced a cut in its dividend on thirtieth April for the first time since World War Two. What was most striking was the severity? Of the reduction. A seventy percent cut which caught investors off guard and illustrates the existential crisis unfolding within boardrooms. I believe the move underscores the transition. To a new era the prevailing yield is now three and a half percent and could mark a major step toward repositioning the business towards renewable focused business those expecting the dividend to be hiked oil markets. Recover maybe left disappointed instead. Management could be on the hunt to acquire utility or invest directly in renewable projects. The good news is that renewables are increasingly becoming. The lowest cost mechanism of providing energy and household are beginning to embrace the transition to electrification of transport and reduction in plastics which also affects oil demand. The profit hundred then gets to the bad news. The bad news for the oil majors is they are relatively late to the party. Existing renewable players such as vestis next Aaron Canadian solar have already gained a significant footprint and offer investors. A pure play exposure to renewables as the big oil majors entered. The renewable space returns on capital are likely to disappoint given strong competition for capital from new and incumbent operators
Slumping oil demand sinks Exxon's profits
"Two of the biggest US oil companies plan to cut investments because of the impact the corona virus pandemic is having on the industry chevron and Exxon Mobil said they wanted to strengthen their financial positions and protective items to shareholders more from our economics correspondent hunter Walker decisions taken by these two U. S. Johns reflect the oil industry's exposure to the economic effects of the health crisis the loss reported by Exxon Mobil with the result of reducing by almost three billion dollars the value of it stocks of oil and products made from it that reflects the fact that the market price of crude oil has plunged along with demand for transport fuel well the chevron did report a profit it warned its financial performance was likely to be depressed as long as current market conditions
Climate change in the era of coronavirus
"Kevin as we sheltered home scientists are finding the behavioral changes like telecommuting can significantly reduce emissions but how much good can these changes ultimately make if we're not making them together Naomi arrest kiss is a professor of the history of science at Harvard her books like why trust science explore climate change denial she says climate change in covered nineteen are examples of problems that can't be solved at the local level air pollution doesn't respect state boundaries you put the motion throughout this year it moves because of virus is comparable to this thing didn't stay in China and then we got to America didn't stay in Washington state the rest this is the principle of limited government or leaving it to the states breaks down in the face of these issues and now is the time to remind people the government's role is to solve problems that individuals or states can't solve alone it took federal action she says to abolish slavery and leadership on the federal level to bring us out of the Great Depression it's true government is not the solution to all our problems but it clearly is the solution to many of our biggest problems like public health environmental health which will be most effectively solves all the states can work together rescue since the pandemic proves that Americans are willing to make sacrifices for the greater good and that bodes well for fighting climate change and now my colleague Molly Peterson takes a look at another way that climate change and covert nineteen are connected thanks Peter Riana gun right directs climate policy at the Roosevelt institute is a think tank she says the pandemic has made existing and equities worse if you are low income black and Latino you are far more likely to live near toxic fumes to be exposed to higher levels of toxic pollution which in turn creates a ton of background conditions you're talking about cancers heart disease respiratory issues all of which are linked to higher likelihood having serious complications from corona virus for Andres Soto an organizer with communities for a better environment that vulnerability is always apparent bay area skies are bluer with more people off the road but in Richmond we also see the refinery is still operating apparently a full capacity and there's been absolutely no indication that chevron is going to be cutting back on its pollution while everybody else has to shelter in place he also points out the corona virus has made it harder to pay the rent because of the lack of an efficient social safety net we now find ourselves having to address people's personal needs as our lives have become destabilised by the goal with nineteen and then set us as the pandemic offers a glimpse of what it would look like if the whole planet works together for big solutions here's my friend Danielle vet and she talked to someone with a view about doing that for climate change thanks Molly okay let's get something out of the way while carbon emissions and pollution have plummeted during this pandemic shut down this is not a gift for the earth or any sort of meaningful Denton are carbon output because we got there the wrong way and this can't last we can't have everybody staying in their homes we can't have people thrown out of work we can't have people unable to feed their families Katharine Hayhoe a climate scientist at Texas Tech University says we can however use this as an opportunity to learn this shows is that we do have the power to act and we can't affect incredible change when we do act in the corona virus we recognized a common problem that threatens ourselves our loved ones our communities we want people to be able to live in safety and that's exactly what climate change threatens to we don't know yet Hey ho says if this crisis will spur stronger clean energy and climate policies or make us retreat will this be an opportunity for a Marshall Plan after World War two or the new D. hello or will people use it as an opportunity to return to the past even more strongly rolling back environmental protections as we're seeing today to shore up feeling industries like the coal industry the question is what will we
What the Coronavirus Means for Climate Change
"As we sheltered home scientists are finding that behavioral changes like telecommuting can significantly reduce emissions but how much good can these changes ultimately make if we're not making them together Naomi arrest kiss is a professor of the history of science at Harvard her books like why trust science explore climate change denial she says climate change in covered nineteen are examples of problems that can't be solved at the local level air pollution doesn't respect state boundaries put pollution throughout this year it moves because of virus is comparable to this thing didn't stay in China and then we got to America didn't stand Washington state the rest this is the principle of limited government or leading into the state's breaks down in the face of these issues and now is the time to remind people the government's role is to solve problems that individuals for states can't solve alone it took federal action she says to abolish slavery and leadership on the federal level to bring us out of the Great Depression it's true government is not the solution to all our problems but it clearly is the solution to many of our biggest problems like public health environmental health which will be most effectively solves if all the states can work together rescue since the pandemic proves that Americans are willing to make sacrifices for the greater good and that bodes well for fighting climate change and now my colleague Molly Peterson takes a look at another way that climate change in covert nineteen are connected thanks Peter Riana gun right directs climate policy at the Roosevelt institute is a think tank she says the pandemic has made existing and equities worse if you are low income black and Latino you are far more likely to live near toxic fumes to be exposed to higher levels of toxic pollution which in turn creates a ton of background conditions you're talking about cancers heart disease respiratory issues all of which are linked to higher likelihood of having serious complications from corona virus for Andres Soto an organizer with communities for a better environment that vulnerability is always apparent bay area skies are bluer with more people off the road but in Richmond we also see the refinery is still operating apparently a full capacity and there's been absolutely no indication that chevron is going to be cutting back on its pollution while everybody else has to shelter in place he also points out the corona virus has made it harder to pay the rent because of the lack of an efficient social safety net we now find ourselves having dressed people's personal needs as our lives have become destabilized by recorded nineteen MM set us as the pandemic offers a glimpse of what it would look like if the whole planet works together for big solutions here's my friend Danielle van she talked to someone with a view about doing that for climate change thanks Molly okay let's get something out of the way while carbon emissions and pollution have plummeted during this pandemic shut down this is not a gift for the earth or any sort of meaningful Denton are carbon output because we got there the wrong way and this can't last we can't have everybody staying in their homes we can't have people thrown out of work we can't have people unable to feed their families Katharine Hayhoe a climate scientist at Texas Tech University says we can however use this as an opportunity to learn this shows is that we do have have the power to act and we can't affect incredible change when we do act in the corona virus we recognized a common problem that threatens ourselves our loved ones our communities we want people to be able to live in safety and that's exactly what climate change threatens to we don't know yet Hey ho says if this crisis will spur stronger clean energy and climate policies or make us retreat will this be an opportunity for a Marshall Plan after World War two or the new deal or will people use it as an opportunity to return to the past even more strongly rolling back environmental protections as we're seeing today to shore up feeling industries like the coal industry the question is what will we do that part of history is yet to be written we all will be writing it
Stock-market futures pointing toward a 500-point Dow decline on Tuesday
"Morning stock index futures this morning they are lower Dow futures down five hundred thirty points well the markets obviously have been roiled by the unprecedented and historic collapse in the price of well to be Frank it's actually jaw dropping the price of New York crude sank yesterday to minus thirty seven a barrel it was a drop of more than three hundred percent and this shows that sellers were willing to pay buyers to take well off their hands storage tanks pipelines tankers are rapidly being overwhelmed by the vast oversupply and there is a fear that those who actually take delivery on oil in the near future may not find a place to actually storage well this morning the may futures contract which expires today basically delivery of oil at the end of the day it's a little bit better but still trading below zero and minus three dollars the June contract it's a little bit higher to fourteen dollars a barrel but the oil price slump among the factors weighing on stocks yesterday has in today as the market began the week in the loss column Exxon Mobil and chevron both fell more than four percent dragging the Dow down five hundred ninety two points and the oil and gas industry shed nearly fifty one thousand drilling and refining jobs in March there was a nine percent
Trump meets with oil company executives
"Zidan met today with oil industry executives whose companies have been hurt by low prices NPR's Jeff Brady reports trump said he thinks Saudi Arabia and Russia will soon to go she didn't end there ongoing price war the executives gathered at the White House included the heads of Exxon Mobil chevron and several other smaller companies most delivered praise for president trump's effort to encourage Saudi Arabia and Russia to cut production and boost crude prices some have called for tariffs on oil from the two countries trump says he's not planning to do that now I think president Putin and the crown prince wants something to happen badly certainly terrible for them what's happening to environmental groups criticized the meeting saying trump should instead focus on helping unemployed oil workers and making clean energy investments to address climate
"chevron" Discussed on Drilled
"Maybe it can. Have you start by talking a little bit about why it might be that? The larger oil companies don't want a bailout for the sort of smaller independent shale companies. There's currently the international price for going on between the Saudis and Russia. And obviously that's driving the price of oil down which is is hurting the. Us industry What's hurting the most? Is the shell companies because they failed to make money for the past decade and a lot of debts that they need to pay back so but the situation. We're in right now as the two majors Chevron Exxon who are already into the show business in a big way in the Permian region which is really the last shell played at. Anyone wants to be in. Because it's the only one that really still is profitable in any way. So if you step back from the global price or going on there's a war going on in the region where Exxon and Chevron are happy to see no bailouts for the shell companies because that will make them go bankrupt quickly out and then Chevron and Exxon more Soak Chevron is in a much stronger position as overpaid for a lot of assets in the past and so they're looking at this as a real opportunity to hopefully bankrupt watch the shell companies go bankrupt and then by those permian assets for any on the dollar. Where does that leave? Oxy In the Permian well stick shale gas a. One of the reasons Exxon wants to pick up assets. Cheap is because they made one of the worst acquisitions covering two thousand nine when or which was there a way to get into the shale marketing mostly gas at that point eight forty one billion dollars for probably is worth a billion dollars a couple of years later so but right now Oxy Is looking to. Maybe he takes place in history books as be worse worse than the x t o acquisition by Exxon similar price. Tag of three billion dollars. That's what they need for Anadarko. Not and I. It's just turned out to be a disaster but an important part of that story is Chevron had an offer of thirty three billion dollars for for Anadarko else. And then they occidental came in and and Anadarko wanted to get a bidding war going and Chevron is backed out and said we're not over you know thirty three is our highest offer and so Thirty eight was the offer team fruit from Occidental. So you can see in Hindsight Chevron made a very smart move plus they got because already negotiations they got a billion dollar payout just for walking away. They used to buy back stock. So Chevron has a very little for their assets in in the Permian Basin to not D- at desperate in any way whereas Occidental certainly overpaid for those assets and it looks like even Warren Buffett do put intend million dollars into that deal and his explanation for was he believed in army as as a viable oil-producing field where you can make profits and here we are a year later and it's looking like even Warren Buffet's GonNa lose money on the steel so the Permian is really where money goes to die at this point. Can you talk a little bit? About why the ANADARKO purchase was was a bad one. And what made it seem like? It was worth that much money. Initially and why has it turned out to be a bad purchase with all of these? Shell plays you know. Wells and certain regions have been profitable but on on the whole the industry and the place. On the whole most of the wells are not profitable so the idea of overpaying for an asset. When you're probably you know you're not gonNa make money even if you pay fair market values. Occidental certainly overpaid for five dollars more than Chevron was willing to pay the companies. Make these mistakes. They think scale is going to help and they wanted to acquire more assets and become a major player in the game and they wiped out a year ago. Occidental stock was around sixty seven dollars. And you know now it's around ten and so they've settled themselves with all this debt Which is the classic model for a Shell Company money to get these wells But you have to keep getting more wells because they deplete so quickly so at a time when the industry already I mean it was clear I started running. Back out of the industry wasn't making money Two years ago yeah and it was pretty clear here ago At that there were serious. Structural PROBLEMS IN THE FINANCES SHALE INDUSTRY. And then they went in and over you know the classic buying at the top of market. They overpaid and now they're just getting so much equity has been wiped out and then that was even before the oil prices right now. Are you know if you look you know the stock ticker it says? Oil prices are twenty dollars a share buy in in Texas in the Permian. They're probably getting ten dollars. A barrel in the pocket in some places. It's between five and ten so I mean there's just they it's it's going to be just a downward spiral these companies which is exactly what. Exxon Chevron are enjoying watching and waiting for So that they can buy up the assets. Where come you continuing to invest in this? Given that it is the collapsing industry it will would buffet. Did apparently the Occidental had a ninety minute conversation with him and convinced him to to the ten doing dollars into the deal for the acquisition for a dark house. Probably should a little bit more homework. You would have expected from buffet on what he did do. It's it's the same thing he did. During the housing crisis Goldman Sachs was in solid arm. Buffa came in and gave them a ten to eight dollars up what he does. You know he's the way these are structured is if the company makes any money he's first in line. He has preferred status. Ray So it's a pretty safe bet in less Occidental goes bankrupt which there's a real chance up now was happening right now is looking instead of paying him back with money in dividends because they don't have any anymore they're looking at Ambala stock which is all well and good if they survive and it will price goes back up then. He does very well right if they go bankrupt. He's he's in trouble just like everyone else. Okay so the oxy goes out of business. A bunch of these small shell companies got a business. Exxon and Chevron pick up cheap property in the Permian but the price war continues for like another year. Or who knows how long I gave? I think I think ultimately like the Saudis and the Russians can withstand a low oil price for longer than than any US company and. So is there a point? Where like even you know. Exxon and Chevron would be in trouble with those and that's the thing I'm actually writing about that right now. Exxon there's this kind of business policy. Well once Exxon comes in. They know how to make money on these these properties and make money in the business. But all you have to do is look at the x t o deal under show. They're not the best judge of investing shale but Golan Saxton steam out a basically a research note on the shale industry this week and one of the things that they know that it was Exxon Chevron have no ability to produce boiled more cheaply than any of these other compass out which really makes sense. I mean companies like pioneer. Have been doing this for a long time. They hire the best people and they understand shale very well so it's not like Exxon can come in and and just has a magic formula to be able to make money when oil is thirty dollars. A barrel ratio. I expect at Sunday. Continue losing money on jail but you know if you look at their corporate strategy you know. Basically what they're saying we're going to acquire as much oil as we can produce it and we we planned to burn every last drop in the next three to five decades and so this is the you know. There is oil in the permit in that sale. It's just no one has figured out a way to get it out of the ground profitably on a large scale and that everyone is facing and the Balkan is already essentially. They've drilled all the best spots so you know it's not like Exxon can go in saying we're just GonNa you know we're going to pick up the best spots. Most of the sweet spots have already been drilled so I don't foresee a future especially a while prices remain low where Exxon magically figures out to make a profit in the permeating even at fifty dollars a barrel because no one has consistently shown can do that. Yeah I mean excellent right now has been borrowing money to pay its dividends which is not a Sustainable business model and so this crisis going certainly be used a one as ways you know as you've talked about they're going to get bailouts in some way whether it's from the Fed or from this slush funds and certainly at one point trump tweeted out about the oil industry he specifically used the phrase national security. And you know they're going to. They're certainly going to try to do those things but again. Exxon and Chevron do not want those shell companies bailed out and there's rain right now just this week the CEO of Scott Sheffield a pioneer of archly. Have written a letter to the Texas Regulatory Agency asking for production cuts basically saying you need to step in and tell the excess producers. We need to limit production so we can bring prices back up and so I mean that's unprecedented to ask for you. Know Control of the markets the free markets in America but in the reporting on that they just two sentences that matter the one-sentence was Chevron and Exxon do not support production cuts so once again. You know the shell companies are trying whatever they can do to stay alive and at every turn Chevron next on. The American Institute are stepping in in the way. And you know they just have more power..
Dow closes out the worst first quarter in history
"Money investors saying good riddance to one of the worst quarters on Wall Street with a final selloff the Dow which hasn't had a quarter this bad in thirty three years skated four hundred and ten points to close at one point eight percent lower the nasdaq dropped seventy four points just under one percent the S. and P. gave up forty two points or one point six percent for the quarter the blue chips have lost twenty three percent while the S. and P. has lost twenty percent among the real losers this quarter Boeing plunged fifty four percent while chevron and Exxon sank at least thirty nine percent after oil suffered its worst quarterly beat down on record tech stocks eked out better gains for the quarter Microsoft with a tiny game Amazon added five and a half percent but apple's quarterly loss stands at more than thirteen percent and Facebook in the red for the quarter by more than eighteen percent and Twitter is down twenty three
"chevron" Discussed on Behind the Bastards
"The goal <SpeakerChange> of <Speech_Music_Male> thinning out their numbers. <Speech_Music_Female> <Speech_Female> I think <Speech_Female> they're doing that themselves. <Speech_Music_Female> <Speech_Music_Male> <Speech_Male> <Speech_Male> Well. We have really <Speech_Male> gone <Speech_Male> on the warpath <SpeakerChange> <Speech_Female> today. Well <Speech_Female> I WANNA. Say <Speech_Female> last time I did this podcast <Speech_Female> I believe the <Speech_Female> other Robert Evans <Speech_Female> was still alive <Speech_Music_Female> <hes> and <Speech_Female> now you're the only <Speech_Female> Robert Evans so <Speech_Female> congratulations <Speech_Female> on <Speech_Female> being the sole <Speech_Male> Robert Evans <Speech_Male> giant last <Speech_Male> bearer <SpeakerChange> of the name. <Speech_Female> <Speech_Female> You could <Speech_Female> start wearing a cravat <Speech_Male> <SpeakerChange> and just <Speech_Male> start imbibe <Speech_Male> I do you? <Speech_Male> I <Speech_Male> am regularly <Speech_Male> <SpeakerChange> inhaling <Speech_Male> my body, weight and cocaine. <Speech_Female> Honor <Speech_Male> his. <Speech_Female> <Speech_Female> <SpeakerChange> I <Speech_Female> R I P <Speech_Female> to the Robert <Speech_Female> Evans. <Speech_Female> And Lot Mitt Long. <Speech_Female> May You live <Speech_Male> <SpeakerChange> real right? <Speech_Male> <Speech_Male> Now with all this cocaine. <Speech_Male> I'm doing <SpeakerChange> I'm going to tell you <Speech_Male> that much right now <Silence> I. Share a ski <Speech_Male> jump. <Speech_Music_Male> No <Speech_Male> never I will <Speech_Male> watch ski <SpeakerChange> fails, <Speech_Male> but I will never go skiing. <Speech_Female> Everybody has <Speech_Female> to do a lot of cocaine and <Speech_Female> then do skiing. <Speech_Male> Those are <SpeakerChange> the <Speech_Male> the future games that <Speech_Male> the new Olympics <Speech_Male> rules and we only <Speech_Male> the only <Speech_Male> place. <SpeakerChange> It's <Speech_Male> legal to hold <Speech_Female> the Olympics. <Speech_Female> Describing <Speech_Female> the Nazi Olympics again <Speech_Female> just do <Speech_Female> a lot of speed <SpeakerChange> <Speech_Music_Male> skiing. Yeah, but <Speech_Music_Male> the the goal <Speech_Music_Male> is to watch. <Speech_Male> People agree <Speech_Male> to do something <Speech_Music_Male> dangerous. <Speech_Male> And <SpeakerChange> that's <Speech_Music_Female> fine well, that's noble. <Speech_Music_Female> That's going to be when we <Speech_Female> get to the hunger games, <Speech_Music_Female> which will be any moment <Speech_Music_Female> now? Probably, yeah? <Speech_Music_Female> <Speech_Music_Male> <SpeakerChange> <Speech_Music_Male> On that? <Speech_Music_Male> On that <Speech_Music_Male> note. <SpeakerChange> I'm <Speech_Music_Male> Robert Evans. <Speech_Music_Female> <Speech_Music_Female> <Speech_Music_Female> Wants to send <Speech_Music_Female> Molly Lambert <Speech_Music_Female> wants <SpeakerChange> to say. <Speech_Music_Female> Do follow him <Speech_Music_Female> on twitter at <Speech_Music_Female> I right. Okay, <Speech_Music_Female> you can follow <Speech_Music_Female> us. <Speech_Music_Female> Bastards <Speech_Music_Female> caught on the <Speech_Music_Female> ground, <Speech_Music_Female> and we have a t public <Speech_Music_Female> store <Speech_Music_Female> and he's doing a live <Speech_Music_Female> show with Billy Davis <Speech_Music_Female> in <Speech_Music_Female> La on March <Speech_Music_Female> J.. <Speech_Music_Female> Dynasties typewriter. <Speech_Music_Female> <SpeakerChange> <Speech_Music_Male> Do it all over. <Speech_Music_Male> I don't <Speech_Music_Male> know I have forgotten <Speech_Music_Male> my name in <Speech_Music_Male> the face of my father. <Speech_Music_Male> Great <Speech_Music_Male> <Speech_Music_Male> The episode <Speech_Music_Male> is over <SpeakerChange> Great. <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Male> <Speech_Music_Female> <SpeakerChange> <Speech_Female> <Speech_Female> What Made Vincent <Speech_Female> Van Gogh, one of the greatest <Speech_Female> painters and <Speech_Female> most tortured souls <Speech_Female> <Advertisement> of all time <Speech_Female> <Advertisement> was Harry. Houdini <Speech_Female> <Advertisement> predestined to become <Speech_Female> <Advertisement> the great escape. Artists <Speech_Music_Female> <Advertisement> based on his family's <Speech_Music_Female> <Advertisement> great escape. <Speech_Music_Female> <Advertisement> I'm Dr. Gail Saltz <Speech_Female> <Advertisement> and on my new podcast <Speech_Female> <Advertisement> personality. <Speech_Music_Female> I'll be joined <Speech_Music_Female> <Advertisement> by amazing experts <Speech_Music_Female> <Advertisement> to delve <Speech_Music_Female> <Advertisement> into the minds <SpeakerChange> of famous <Speech_Music_Female> historical <Speech_Music_Female> figures. If <Speech_Female> you want to know what really <Speech_Female> <Advertisement> made exceptional, <Speech_Music_Female> <Advertisement> people tick, then <Speech_Music_Female> <Advertisement> take a listen to personality. <Speech_Music_Female> <Advertisement> Listen <Speech_Music_Female> <Advertisement> to personality <Speech_Female> every Monday on the iheartradio <Speech_Music_Female> <Advertisement> APP on <Speech_Music_Female> Apple podcasts <Speech_Music_Female> <Advertisement> or wherever you get your <Speech_Music_Male> <Advertisement> podcasts. <SpeakerChange> <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> Guys it's <Speech_Music_Male> <Advertisement> bobby bones. I host <Speech_Music_Male> <Advertisement> the bobby bones show. <Speech_Music_Male> Up <Speech_Music_Male> <Advertisement> Pretty, much always sleep because <Speech_Music_Male> wake up at three o'clock in <Speech_Music_Male> <Advertisement> the morning a couple of <Speech_Music_Male> hours later. I get all my <Speech_Music_Male> friends together, and <Speech_Music_Male> we get into a room <Speech_Music_Male> and we do a radio <Speech_Music_Male> show. We share <Speech_Music_Male> our allies. We tell our <Speech_Music_Male> stories. We try to find <Speech_Music_Male> <Advertisement> as much good in the world. <Speech_Music_Male> Possibly can, <Speech_Music_Male> <Advertisement> and we looked through <Speech_Music_Male> the news of <Speech_Music_Male> the day that you'll care about <Speech_Music_Male> also <Speech_Music_Male> your favorite country artists <Speech_Music_Male> are always stopping <Speech_Music_Male> <Advertisement> by to hang out <Speech_Music_Male> <Advertisement> and share their lives <Speech_Music_Male> <Advertisement> and music, too, <Speech_Music_Male> so wake up <Speech_Music_Male> with a bunch of my friends. <Speech_Music_Male> I Ninety eight point <Speech_Music_Male> seven W., MC, Q <Speech_Music_Male> in Washington DC or wherever the rotates you on the iheartradio APP.
"chevron" Discussed on Behind the Bastards
"Would love to see the International Olympic Committee roasted on bastard sometime, because truly a cabal of super. True monsters in human history, and honestly like part of out the environment real bad they. Are Gearing you now. Can you believe that they're holding? Fukushima for the twenty twenty games and they have not. You're finished irradiating the soil so. It's almost like they just plow ahead with their plans. Even as climate change makes it harder and harder to hold a outdoor sports events because of the temperature going up so much in the summer. Molly I feel like what you're trying to tell me. Which is fundamentally ridiculous, is that the city of Los Angeles a city? That bakes in the summer much of the year that has severe drought problems that is surrounded regularly by horrific wildfires, and that has the worst traffic of anywhere in the nation. You're telling me. This is a bad place to hold the Olympics in the future. Would you believe that a city that can't deal with its own housing crisis and has perpetually failed the most vulnerable people in the city. City and failed to give them proper housing and shelter would think they should be doing anything else, but working on fixing that building housing for that to be relevant, you would have to be able to sight to me. Evidence from I don't know. Let's say more than eight cities that the Olympics increases the cost of housing in a city that allow an I doubt you can honestly name..
"chevron" Discussed on Behind the Bastards
"Individual consumers can make choices only among what's already on the market, but who determined what was on the market, other larger forces had shaped an economy dependent on fossil fuels. He realized companies who developed the markets for fossil fuels and influence decisions to build the infrastructure that supported them. He asked himself shouldn't companies who profited from those decisions play a role in mitigating them without world governments, making a little progress towards reducing making little progress towards reducing emissions, perhaps pressuring companies whose products were causing the harm might have more effect. In two thousand and thirteen heeds, research revealed that ninety companies had contributed two-thirds of the world's industrial emissions. He could pinpoint directly share of emissions for which modern industrial companies are responsible, Chevron is number two on that list of ninety Exxon is number four Shell is number seven. The data about what precisely these individual companies are responsible is out there. We know how much of the coming catastrophe we can blame on each of them. The only question left is what are we going to do about it? The oil and gas industry has answered that question for itself since the Paris Agreement in two thousand fifteen, the world's five largest oil and gas companies spent a combined one billion dollars at minimum lobbying to stop chain regulations, one hundred ninety five million dollars. A year has been spent by these companies on branding campaigns to suggest that they support an ambitious climate agenda, so while they are funding efforts to stop any regulations from them polluting the environment. They also have a massive brandon campaign like aimed at making. People think that they're hard work researching. Give methods of fuel, and you've probably seen the results of this and billboards and bus. Stop ads that Brag about for example ExxonMobil's algae biofuels research. Yes, yeah, you've seen some of that I've seen a lot of that even especially in the city of Los Angeles. They claim that algae biofuels offer some of the greatest promise for next generation biofuels. There are tiny organism ad. Campaign features colorful central illustrations of bright green, healthy, looking algae under microscopes, and in specimen jars they bragged.
"chevron" Discussed on Capital Allocators
"How do you do that? Does that really make sense? How do you get the data? How do you think about Exxon or Chevron Chevron's oil company oral company being your index? Well, because when you pull the public sure it, this is greenhouse, gas, emissions contributions to environmental impacts, but on balance all those issues. This is where it sucks up. So it's really a very detail set of due diligence, which quite honestly, is as rigorous as any due diligence that I as an investor in my previous life of being through, and I would say appropriately, so, so, other than the Goldman license, ETF, how have other managers taken the research. You've done and applied it into their own investment processes. So that's obviously something we encourage, we have a lot of folk since the press and the attention, we've received since the ETF. Launch? An our overall marketing efforts as our profile bills you have a lot of investors. You say that's an interesting signal to use it how they use it. We wanna make sure that it's being applied in a way that's consistent with our mission. But we also want to encourage adoption of our rankings. And we know that investors will use it in different ways depending on their strategies. So good example, is startup manager, new manageable gray arc that is interested in synoptic management strategy. They want our signal. They feel like our signal can be accretive to their own investment decision making process, their own thinking. And we think that's great. So we want them to use it. We want them in other active or passive manages to start using our signal and provided. It's consistent. With a mission channeling capital, two more just companies and therefore encouraging more just corporate behavior than we're right behind that. We want more of from the outside. How do you know what any individual managers doing with the data wants to haven't we just have to be selective? We have to make sure working with people who we believe are doing this for the right reasons in support of the mission. How many different managers are, you're working with today are working with your day today that, you know it's early right now. I would say a handful, maybe half dozen or so, we're in discussions with probably twice that number and varies, as I said, from we wanted develop a brand new product. We want to embed the just signal in that to a wordy running this whole strategy or simply data hungry. And we think you've got the best data on some of the most. Important new drivers of corporate performance. So we want to license your data..
"chevron" Discussed on Power 106 FM
"Space e. Me Chevron early in the morning. Underway like a drag. Been a house. Ren into the wrenches Ren into applause. Based on. O Billy's face you. I mean. Brooke? Stay not a rash of living. Let me. In. Twelve gene and stuff of me. MR eastern on overseas. Vision. Space. Who? Busy. Yeah. You know, what is our number one for him? Yep. Yep. Can't take to love that. I gave you is to change you. Change you..
"chevron" Discussed on REAL 92.3
"Space. Call me Chevron early in the morning. Like a drag. Back. Could you on my shoe? House. I don't care. Doc. Space. Decay. Woah, you say. Talk. Boston. Not a up. She go. Let me. Keys in v. Twelve I'm Gina stopping me. Emma overseas. Space. Nope..
"chevron" Discussed on MAD MONEY W/ JIM CRAMER
"Think the price of oil would be soaring today their country imposing sanctions were in. But instead it actually closed down the debt. So that's reality. I think crew may be on the verge of rolling over even at that towns totally counter to it. How is that possible? If you only listen to the major oil companies in those recent conference calls you think this firing all Suman. Just excellent Chevron BP day all had been tastic quarters. Some of the best quarterback can call me. All patch. Chevron Cass folk mop rations has served his highest level in nearly five years back. Then was it. One hundred ten bucks power push down more than forty percent from those levels, Chevron generating the same amount of cash. That's on the same story with best cash flow from operating activities since two thousand fourteen covers investing over the world growing like the Exxon of old in many ways BP was the most confident the British oil clauses. Just in for the first time in almost four years. Magic out an overview of global inventory declines, they explain that any kind of supply shock, I mentioned Libya. Venezuela rent could send the price of crude surging dramatically higher. More important BP told us that quote, we can't see anything which would majorly move in quote, lower it opening damn Chevron voted higher. Take three point seven percent. I tell you what. Even though I think chevrons it's becoming. Getting a fabulous hauling opportunity. How am I this bearish? When the beginning great. It's incredibly bullish simple oral really ready. Okay. If it's going to war, then the oil service stocks would be flying here because these companies make a fortune proofs put their money where their mouth is and open the truing spigot. But that is not happening. Take slumber J. Best oil service company stock that trades nearly fifty bucks just slumber. J shares are actually down about twelve weeks from where they were at the absolute bottom in oil think about that. When crude twenty six dollars per Blough, twenty sixteen and tone. I know it club members of action was plus dot com.
"chevron" Discussed on First Mondays
"Right? But the the statute is clearly trying to encourage the attorney general to pick those people up right away. Right. Like I mean, I'm not a super positive, but the idea here is take them into custody as soon as you can. Right. And if you don't, maybe they're not described in paragraph one anymore, but I don't know. And even if you even without that, you might say it at least sort of authorizes that it's it's mandatory in the sense of saying shell for one thing. But on top of that, you might think it just means, you know, at the very least. Upon release. Yeah, that's I think that's right. And so you know, there are some other arguments kind of floating around the case as you might expect. The government invokes Chevron difference and you know the people on the other side, you know, the lawyers for the class of immigrants say, well, first of all, there's serious constitutional problems with reading the statute your way because authorising mandatory detention with no findings of individual dangerousness is really only appropriate in a narrow class of cases and this sort of argued this this wouldn't fit. I don't. I don't know about that, but they also say Chevron deference isn't appropriate for the government's interpretation of its own detention authority, which is kind of like a, that's an argument that you could imagine actually getting a little a little pickup, right. Like you know, with a Gorsuch, for example, who doesn't even really believe in Chevron to begin with. But certainly I don't think we believe in it in the context of the attorney general interpreting the scope of who he can and can't lock up forever with no bond hearing. Right, right. No. And. In that sense to to kind of shades of Gundy you might think in a way in that sense? Yeah. So that's tricky. And there's also a sort of like the sort of lurking atmospheric thing is. All this person gets is a bond hearing conducted before an immigration judge, right? And as a person who's r- I mean, I've represented immigrants who, yeah, they got a bond hearing. They weren't remotely dangerous that can get on because it's hard to get bond from Jay's a lot of the time, and it has to be at least fifteen hundred bucks, right? Like not every alien in the world has fifteen hundred dollars to pay for a bond and not always ability to get it. So it's not like if the government loses this case, it has some dramatic policy consequence, but just just on the text of it, I don't know. Maybe I'm just becoming hardhearted in my old age, but I I have a problem. I have a problem here. I think this is what comes of having a having a tenure track job. Now you're, you're losing your common touch. Yeah, I know I just wanted to comment touch and losing my radicalism. Right. And I'm sitting at sitting in a nice hotel saying immigrants should be, you know, locked up by the attorney general. What's happened to me what's happened to me. It's not good. So I think that's a, that's a pretty good exercise. I kind of like the idea of talking this stuff through totally blue sky, which do more of this..
"chevron" Discussed on We The People
"That indeed is why I am frustrated by tax Chevron or broader constitutional attacks because I think we are missing the urgent questions by fighting these battles, but constitutionally that go back to the nineteen thirties. I doubt very much that there will be a popular outreaching over Chevron. I have been struck by the thin to which Chevron has come into Senate confirmation hearings. And if it goes beyond that, well, look, great for me. I'm an outlaw person then suddenly way. Cool. But I don't think so. In terms of what I do think we will continue to see in the courts a lot of content contestation about this, and we will see some in congress who've been measures in congress, the seperation power restoration to try and peel back at a Chevron. So I think we will see that, but I think he'll be at the level of elites in terms of what the courts will do. I think we will see continuing further domestication of Chevron. The supreme court hasn't really relied on Chevron since at least two thousand sixteen maybe even two thousand fourteen. But this one case in two thousand sixteen that make count. And so it's not, as I said before, it's not been that much of a force recently on this on the speaker, it's been more more relevant in lower courts, but I think what we're going to start seeing more robust inquiries at the first step of Chevron into what the Texas statute says, and the narrowing of the extent which questions are being read by courts left to agencies. That's part of the play of Chevron. It won't be overturning. I don't think the fundamental constitutional attack on Chevron is going to succeed. Because as I've said, I don't think it's founded the justices agree with it across the board. And I think they recognize the difference in another form simply arise. The broader constitutional intact in the ministry of state, I think is really want to keep your eye on that is something that the Roberts court has really been pursuing. And here I think the ultimate outcome will depend a lot on what happens in politics, but if we have politics that move in a very democratic more progressive more pro regulatory direction, and we have a court which is trending very much in the opposite direction. That leads to the kind of clash that we saw in nine hundred thirty seven. That leads to supreme court being more out of touch with the government and with the populace than is healthy for the institution. And I'm not sure what the court would do. Then my own, including probably Roberts is enough of an institution's. He will pull it back, but that turns on politics and in right now, the government that we have elected is actually profoundly not pro regulatory it. So there isn't that disconnect right now. The supreme court is very much in keeping with the governing administration. Indeed. So that when I honestly think we just can't tell what's going to happen. Gillian. Thank you so much for joining. The we, the people team would like to give special thanks to the federal bar association for hosting us at their event and to their on-site av team for facilitating this live recording. This episode was engineered by David Stotts and produced by me Jackie McDermott and by Madison Poulter and Scott on boy, research was provided by me and by Lana Oprah. Join us back here next week for our supreme court term preview until then you can keep up with the national constitution center by signing up to receive constitution weekly. Our Email roundup of constitutional news and debate bit dot l. y. slash constitution, weekly, that's beat IT dot l. y. slash constitution, weekly on behalf of the national constitution center. I'm Jacky McDermott.
"chevron" Discussed on We The People
"I should begin by saying what a pleasure it is to have been discussing this with Jillian Upshur. We'll continue this. Apartment building and of school. So I the history, I don't want to delve into the history now suffice it to say, I think the other view the history is profoundly mistaken just to put it simply when transfers lawmaking power from the lecturer and their elected officials, diverse elected officials into the hands on a module nice class. It doesn't matter that much class considered itself above racism or not. Inevitably they'll be consequences for diverse populace. Diverse populace cannot be represented through administrative state. They need to have representatives where worried about being reelected to respond to them. And that's the way did when you put the head power into the hands of an imagine is classified ministers and this is this is a severe problem. It's not so much about race these days as about education and knowledge, and we all know these days that there's deep resentment about some of this. And some of that actually comes out of the administrative. State and doctrines like Chevron, Chevron now about word out there, people hate Chevron, even though that don't even fully understand what it is because they do have an innate sense, an accurate sense that this is incompatible both with a Representative system of government, and of course, with traditional independence and process and freedom from bias. Now so much for the history that'll be talking about the current affairs. And the constitutional question, the question is very simple. Do we want to have an independent judiciary that decides cases on their merits fairly between the parties with full due process for both that is not biased in favor of the government wherever the government proceeds against you? I think the answer to this is very, very easy. If someone really wants to stand up against to process, let let them let them do so and let them explain why Chevron is all about interpretation. All the -ffiliated doctrines is about interpretation. The supreme court can't walk away from this, right? That's one of the problems. They've said. It's interpretation for decades. What are they gonna say now wasn't really interpretation and that's why we're not biased. They've imposed bias in the federal judiciary and therefore on the rest of us, and we all know have to live with this terrible terrible mistake. Chevron is an abomination not merely because what it does and particular cases because it undermines confidence. That we can get a fair hearing in federal court. And the answer is currently we cannot when the government moves against us administratively because of doctrines like Chevron. And Chevron, of course, the worst. What's the future. I don't have high expectations of the supreme court will have the gumption to admit its own error. It should. I don't think it will. So I think the action is going to be in the lower courts and we've already seen this. We've seen it in the federal courts, and we've seen it in state supreme courts as when the Wisconsin supreme court reprimanded, the supreme court. And I like to close by saying, if any of you have Chevron cases and you want some help if you just wanted to make us brief supporting your position, please get in touch with me or get in touch with the news of Libya's alliance. We're here to help. And one of our targets, of course, Chevron, because Chevron, as I said, there's an abomination to destruction, everything we love about due process and unbiased drenching. Thank you. So. Your thoughts on Chevron, and what would you have to see change in the way that judges interact with review decisions? Thank you and thank you for listening to us in his in lot of fun as it always is debating full. One nice thing to say conclusions. I think there's something that Tippin I agree on, which is I actually think that thinking creatively about ways of making agencies, responsive and attentive to the needs of different communities. In different ways, programs are implemented is important. I think the fundamental way to do that is actually through thinking about the structures of the administrative state. There's been, there's a lot of ways of bringing in the states and localities into national programs. The whole nature of administrative rulemaking actually provides much more room for feedback and for comments, people are thinking creatively about how to make it more responsive, but to go down that route is to accept the fundamental constitutionality of administrative governance and.
"chevron" Discussed on We The People
"Administrative power is racist all along even more important than issue of race class, and that is still predominant and underlies doctrines such a Chevron. Chevron is part of a sweeping shifted power to the knowledge class shift of power out of the hands of folks who vote in local elections representatives and think that they actually make law into the hands of people. Well, like us in this room who have university degrees and are more tach sometimes to the thorny of our knowledge than to authority of voters. And if we're going to deal with Chevron and related doctrines, we should recognize that one of the reasons they go so far even beyond the principles of administrative power to shifting power to agencies. Why does seem so acceptable to people? Well, like those of us in this room. It's because of class, and that's an ugly fact. We can never never forget. Two of if you chance to respond to any of folks point safari. Ask you both for just losing thoughts on then we'll get questions. Okay, wonderful. So this is one of the reasons why love having Philip is a colleague because his ability to span vast areas always challenging. He did not. However, by the way, bring in his study of Quakers, which I expecting those final comments just an FYI there. So unfortunately on this one, I think Philipe were fundamentally wrong. If you look at the advent of what we now consider the modern ministry of state and it's it's, you know, it existed. It started to exist. It existed much more over throttle our nation's history as historians have shown. It came to be expanded in the progressive era to turn of the century. But of course, the modern. Dramatic expansion of the modern men. Ministers Tate happened with the new deal with f. d. r. you focus on what were some of the reasons for that. It was an expansion that was fundamentally driven by popular desires for more regulation, popular fights over things like business versus labor, who opposed the administrative state. The administrative state was opposed by industrialists. If you go back and you look at the liberty league, which was a leading group that was attacking FDR and bring all sorts of constitutional challenges against administrative actions in new statutes who were they, they were the depan brothers. That's who they were. They were the DuPont brothers and all of their billionaire or probably point millionaire industrialist friends. That's what the opposition to administrative government has always been rooted in. And the impetus for administrative government has been for a desire for greater government protections for greater government benefits for. Government regulation by those who have not been those traditionally elites with power or wealth. If you particularly go back and look, they're, they're real fights were about labor and it's fascinating if you study the debates over the birth administrative state today, it's much more environmental regulation and other areas, but it was profoundly fraud over labor. At the time it was born and it is simply mistaken to think that the reason why the administrators take came to be was away of siphoning off power from the newly empowered working classes or lower working classes into the hands of -letes. On the point about racism. Philip is absolutely right that there were many reasons. Features of key parts of our administrative state. There were many racist features about our country. The problem is that racism is a deep threat in our natural political history and culture. The reason why, for example, agricultural workers were not extended coverage onto an alario was because the power southern Democrats who would not support FDR if he challenged the race relations in the south. His willingness to go along to get something underway something many people criticize but did nothing inherent in administration. It is inherent in many other political factors. And in fact, if you think about many of the significant moves that our country has made at times to combat racism actually come from administration. So think about Truman's order right ordering that the military be, what was it that was an administrative action with profound implications. Just one example. There was a whole area of scholarship called administrative constitutionalism and number of historians with studied how administrative actors people at low levels. People at high levels and agencies really thought sought to use their executive administrative powers to address racial imbalance in this country. So finally on this question of whether or not Mr..
"chevron" Discussed on Toure Show
"Because he ran away and came to stay with us you know when he was living with his mother married how old is that fourteen thirteen right around there same same time it was maybe the week of the car thinking he ran away from his mother's home yeah did was she singled chevron you know she was married yeah yeah hey would omar and taika they'll know the other so i mean i think you know i want to really speculate because i wasn't there i didn't see i just know that he would come and would tell me different things about this and that and then plus what i would see just with their interactions it was an interesting you know like some stepfather's can be really really cool sure and some stepfather's maybe not so much and some somewhere in between and it's hard for me to really speculate on where he was that i just know that he was making him do a lot of stuff i don't wanna call him senator fella or anything like that but you know but this is what prince told you his feeling with that he was getting no he didn't tell me that it's it's no i just from the conversations that he would have in the things that he would say about the situation but long story short he was like you know whatever was going on there he just came in and said can i stay with you guys for a while and i was like it's fine with me gotta talk to my mom talked to my mom.
"chevron" Discussed on Bloomberg Radio New York
"Feels that way because we take a look at shares of chevron chevron and exxon mobil kind of mixed up because chevron shares are rallying exxon mobil not so much both of them out with earnings today let's get a look at the results take a look at the environment for big oil for nando valley is oil and gas analyst bloomberg intelligence inner bloomberg eleven three oh studio near nice to have you here my pleasure thanks for having me so tell me what happened i mean no company even if you're in the same industry are exactly the same so let's let's let's talk about chevron i and we do see their shares are up in today's session talk about their quarter so chevron's really benefiting from a secular change in their own circumstances they made a lot of large investments in the twenty ten to twenty fourteen period that's now coming to mature so the biggest one was gorgan ellen jean australia but they also have reached stone ellen g also in western australia the first three trains are gorgan came online during two thousand seventeen the first strain of we stone came online at the end of twenty seventeen and so now ellen g that's all lng okay so they're really starting to benefit from that so in other words gave me the investments few years ago and so now that's all starting to pay off this is what they like to call the wall of free cash or this finally coming to pay off and you know the question becomes when when does that free cash little regard to shareholders or does that free cash will go somewhere else and they haven't really talked about buybacks yet they said he wanna see some consistency on free cash flow but they're net debt is fairly low their eighteen percent of their equity capital on a debt and i think what they're really looking for is to eliminate all the turnkey risks with the second train of wheat stone which comes online this quarter and in one set stare and they started to generate free cash flow from that project as well they'll being a place where they can look to to start increasing the.
"chevron" Discussed on We The People
"Thanks so much for that a daniel road first is the overturning of chevron or a real possibility we know justice scalia was a fan of injustice gorsuch as not but could you imagine five votes for the overturning of chevron and if it were overturned what how much of the administrative state do you believe might be unconstitutional and give our listeners a sense of the kind of regulations and agencies the might pm and impressed with i don't think that over her ambush arrived doctrine would render origins of the administrative state unconstitutional the question is we gotta statutes in someone's got hurt is that you'd and it's either abby it god or the executive but we're not going to strike as either in a unelected judge or an unelected bureaucrat was accountable aleppo right uh but we're not going to strike down the revision as unconstitutional we'll just how up more judicial activism in a world without shower there are two ways at chevron doc go uh two ways sharon doctored could kill wonder to defied boats unscreened or uh in or to overrule shark i don't think that there by votes right now i don't think they're even four boats right now but i don't injustice kennedy who cares about real world consequences of his decision we be conquer all over roaring shark and as a result paralysing the administration of law in other ways chevron could go up we'll be for it to be overturn a by an act of congress.
"chevron" Discussed on WREK
"What is that and so she turned around really quickly and she did this really big gas you know we all just didn't know what happened in so she immediately said that's chevron that just exploded at that moment none of us knew what to do you know we just see this big roar of a black cloud just shoot straight up straight up in the air you know look multiple big clouds following it and you know we heard these booms these really loud booms i think it was like two or three of them and we immediately started to tell everyone get inside similarly 635 there was an explosion of some type at the chevron refinery in richmond we've had an you know just watching it from my windows just see the clouds discontinue to cover this guy in the flares just shoot up in now people like me who remember that day has to fear every day am i gonna see another explosion in my lifetime i really hope not you see a group near the chevron richman refinery in california in two thousand twelve over shared pipe at the refinery caused the fire sending black smoke into the surrounding areas it took more than four hours to bring the fire under control oh richmond lies in what's known as the refinery corridor there are five petroleum refineries along the north coast of the east bay less than thirty miles from each other so those of us who live along this oil artery are all too familiar with the trends of having a petroleum processing plant as ours neighbor that.
"chevron" Discussed on 99 Percent Invisible
"This is ninety nine percent invisible i'm roman mars mm woo two years ago i was talking to john maher he's the guy who i uttered this bedrock nine ipi mantra always read the plaque we are talking about the show and he said you know what you should do a story about it's one of my favorite places in san francisco so i went to the address i checked it out and i kid you not he sent me to a gas station on van avenue in san francisco edelman a look around and discover what was weird about it in almost every respect is a normal chevron gas station it has a blue awning and the red and blue chevron logo on the sign but the sign an awning don't say chevron they say standard as in standard oil the massive oil monopoly broken up in the early twentieth century by the sherman antitrust act when the independent companies created by that breakup was chevron and for some reason the though this gas station is a modern chevron station in every way it's called standard if you call the station they will answer the phone same chevron and the attendant cannot tell you why it's a standard on the side of tried but a trademark water by amanda eleven dusky can achieve i can't be any worry a lot he's someone who has the cure here and bonafide intent to use the mark in commerce and are using that word symbol device to identify the source of their goods or services that phrase bonafide intent means that if you want to keep a trademark you have to use it in this particular case when standard oil was busted up.