Chevron

We need climate action. But just because something gets grouped under the umbrella of things that theoretically combat climate change doesn’t mean it’s actually good for the planet or people. In an alarming example, production of certain alternative “climate-friendly” fuels could lead to dangerous, cancer-causing emissions.Bees Are Fish Now, I Guess?A Chevron scheme to make new plastic-based fuels, approved by the Environmental Protection Agency, could carry a 1-in-4 lifetime cancer risk for residents near the company’s…

This story was originally published by Grist. You can subscribe to its weekly newsletter here.Behind the Scenes at Gerard Piqué’s Kings League FinalsSpiking gas prices, spurred by Russia’s invasion of Ukraine, and oil industry profits of $200 billion prompted widespread calls last year for price-gouging investigations. President Biden even threatened to impose a windfall tax on Big Oil if it didn’t invest some of those record profits into lowering costs. But the sector’s financial secrecy, and its efforts to blame…

The United Nations wants Big Oil to have a seat at the table when it comes to climate solutions—an idea kind of like inviting a fox into a henhouse.On Monday, the Intergovernmental Panel on Climate Change released its blockbuster new report, which sets some firm goals. To stave off the worst impacts of climate change, we need emissions to peak over the next two years and to cut emissions a whopping 65% by 2035. We’ve, essentially, got a little over a decade to seriously move away fromfossil fuel use. Longer-term…

HOUSTON—The boom in oil production that over the last decade made the U.S. the world’s largest producer is waning, suggesting the era of shale growth is nearing its peak.Frackers are hitting fewer big gushers in the Permian Basin, America’s busiest oil patch, the latest sign they have drained their catalog of good wells. Shale companies’ biggest and best wells are producing less oil, according to data reviewed by The Wall Street Journal. The Journal reported last year companies would exhaust their best U.S. inventory in a…

The dueling—and sometimes conflicting—imperatives are expected to be core topics in Houston starting Monday when oil executives, climate hawks and government officials gather at the industry’s premier annual energy summit. For an industry accustomed to extreme cycles of boom and bust, the current environment is less binary and more complex than usual. Even as the biggest companies post record profits, huge questions linger.…

Oil companies delivered the market’s best shareholder returns last year, but Wall Street is still wary.    The biggest Western oil companies, Exxon Mobil Corp. XOM 0.69% , Chevron Corp. CVX 0.26% and Shell SHEL 1.16% PLC, together cleared a record of more than $132 billion in annual profit in 2022 and handed investors $78 billion via share buybacks and dividends, about…

Environmental activists rally for accountability for fossil fuel companies outside of New York Supreme Court on October 22, 2019 in New York City. Photo: Drew Angerer (Getty Images)This story was originally published by Grist. You can subscribe to its weekly newsletter here.It’s been eight years since the world learned that “Exxon Knew.” The oil giant had grasped the dangers of burning fossil fuels since 1977, investigations showed, despite its long-standing public stance that the science was “uncertain” and persistent…

If by some miracle you had a great 2022, you’re not alone. At least two of the world’s biggest oil corporations thoroughly rocked last year. In fact, for ExxonMobil and Chevron, 2022 wasn’t just a good year—it was the best one ever.ExxonMobil posted record-eviscerating annual profits for 2022, with a $55.7 billion windfall revealed in the fossil fuel giant’s final quarterly report for the year on Tuesday. Previously, the company’s highest profit was $45 billion in 2008, making 2022's net earnings nearly a 25% increase on…

Here is what some of the world’s corporate leaders said this week about the economy, inflation and the labor market, among other topics.“A few things are increasingly clear. Just as we saw customers accelerate their digital spend during the pandemic, we are now seeing them optimize that spend. Also, organizations are exercising caution given the macroeconomic uncertainty. And the next major wave of computing is being born as we turn the world’s most advanced AI models into a new computing platform.” (Jan. 24)Tesla Inc.…

Intel said April 5, 2022 that it has suspended all business operations in Russia.Paco Freire/Sopa Images | Lightrocket | Getty ImagesCheck out the companies making headlines before the bell:Intel — The chipmaker suffered a 9% loss in its shares in early morning trading after its latest financial results missed analysts' estimates and showed significant declines in the company's sales, profit and gross margin. The company also forecasted a loss for the current quarter.Advanced Micro Devices — Chip stocks such as Advanced…