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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (356845)	11/3/2007 3:32:42 PM
From: tejek	Read Replies (1) of 1570103

The writing is on the wall and folks are driving their SUVs (stupid ugly vehicles) past the graveyard of past US prosperity... if they can't increase production at $78-$96 per barrel then they can't increase production. "The company's worldwide profit in its so-called "upstream" operations slipped 2 percent to $3.43 billion, a downturn that management attributed the downturn to lower production and higher operating expenses during the quarter. Chevron produced an average of 2.6 million barrels of oil per day, down by about 100,000 barrels per day from last year." Crack margins are terrible and they sticking with their cheaper, non $95 oil when producing oil derivatives. That's why gasoline reserves have been going down week after week since August. The refiners are hoping that oil will come back down before next year's driving season. Otherwise $4+ gas will be the name of the game. There is a squeeze developing......that's why the feds only dropped rates by a 1/4 and OPEC is increasing production.

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