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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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From: ldo79	11/2/2007 8:55:40 AM
	of 436258

Chevron misses target on 26% earnings dip By Steve Gelsi, MarketWatch Last Update: 8:43 AM ET Nov 2, 2007 NEW YORK (MarketWatch) - Chevron on Friday said third-quarter net income fell 26% as the No. 2 oil giant booked a $1.1 billion drop in downstream earnings on lower margins for its U.S. gasoline and other products. "Earnings declined due mainly to weak refining and marketing conditions in the United States," said Chairman and CEO Dave O'Reilly. "Margins were squeezed as escalating costs for crude-oil feedstocks could not be fully recovered in a U.S. marketplace that was well-supplied with gasoline and other refined products."

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