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Chevron sets 2013 capital budget of $36.7 billion

AP -- Chevron Corp. plans to spend $36.7 billion in 2013 on energy exploration and investments, including $3.3 billion of planned expenditures by affiliates, the oil giant said Wednesday.

That's up about 12 percent from this year's budget. About 90 percent of the 2013 budget is earmarked for upstream crude oil and natural gas exploration and production projects, while another 7 percent is for Chevron's downstream business that makes, transport and sell gasoline, diesel fuel and other refined products, fuel and lubricant additives, and petrochemicals.

The San Ramon, Calif., company said the spending will support projects like its Australian liquefied natural gas and U.S. deep-water developments. Chevron announced last year it was greenlighting a multi-billion-dollar LNG project called Gorgon i

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Submitted Dec 06, 2012 By: fracknsave

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ExplorerWA Champion Author Washington Posts:4,069 Points:795,240 Joined:Feb 2011	Message Posted: Dec 7, 2012 12:11:32 AM Ignore ExplorerWA Report Abuse Wow! That's a lot of bucks. Inflation....printed paper.
skybiker Champion Author South Carolina Posts:7,287 Points:1,557,565 Joined:Jul 2008	Message Posted: Dec 6, 2012 11:55:44 PM Ignore skybiker Report Abuse Oil biz is good...
DanMtz Champion Author Oakland Posts:3,340 Points:1,240,400 Joined:Oct 2009	Message Posted: Dec 6, 2012 7:58:17 PM Ignore DanMtz Report Abuse Wow, $100,000,000 per day.
N5EXY Champion Author Austin Posts:5,482 Points:1,508,130 Joined:Jul 2004	Message Posted: Dec 6, 2012 3:54:15 PM Ignore N5EXY Report Abuse Don't let Bozama find this out.
Cheepo Champion Author Tampa Posts:9,889 Points:3,128,005 Joined:Apr 2003	Message Posted: Dec 6, 2012 3:03:39 PM Ignore Cheepo Report Abuse Profit is great, we need more profitable companies to stop unemployment!!!!!!!!
milespergallon Champion Author Illinois Posts:9,734 Points:1,906,410 Joined:Feb 2007	Message Posted: Dec 6, 2012 2:16:38 PM Ignore milespergallon Report Abuse Reading further in the article we find that their PROFITS are UP EIGHTY PERCENT, yes 80%, and they are increase the capital budget by 12%. AND!!!!! The 80% is UP from the year before which was up from the year before and so on. I wonder if the could SQUEEZE and additional 6% and build a modern much more efficient refinery and reduce the prices at the pump! Yes they 'could' but probably won't
dieselfiendSC Champion Author South Carolina Posts:2,170 Points:844,655 Joined:Nov 2008	Message Posted: Dec 6, 2012 1:26:59 PM Ignore dieselfiendSC Report Abuse It takes money to make money and it takes a lot of money to make a lot of money.
bart_reed Champion Author Los Angeles Posts:3,964 Points:783,680 Joined:Mar 2011	Message Posted: Dec 6, 2012 1:14:25 PM Ignore bart_reed Report Abuse Nothing like growth.
Cellsite Champion Author Appleton Posts:1,223 Points:285,125 Joined:Jun 2012	Message Posted: Dec 6, 2012 12:08:53 PM Ignore Cellsite Report Abuse Glad that it will help create and keep jobs, but will it lower gasoline prices at the pump?
sdiddydaddy Champion Author Grand Rapids Posts:1,101 Points:394,745 Joined:Jan 2012	Message Posted: Dec 6, 2012 12:06:36 PM Ignore sdiddydaddy Report Abuse That's a nice budget to have.
krobp46 Champion Author Milwaukee Posts:2,701 Points:539,145 Joined:Sep 2011	Message Posted: Dec 6, 2012 12:06:27 PM Ignore krobp46 Report Abuse It's nice to commit to exploration like that, but if the Obama Administration does not open Federal waters and lands to exploration, it will be money not spent
GRUMPY55 Champion Author California Posts:1,624 Points:422,525 Joined:Oct 2011	Message Posted: Dec 6, 2012 12:03:49 PM Ignore GRUMPY55 Report Abuse Raise the price at the pump to pay for it.
jetmech568 Champion Author Idaho Posts:1,268 Points:623,115 Joined:Apr 2011	Message Posted: Dec 6, 2012 11:58:49 AM Ignore jetmech568 Report Abuse most of that most likely to pay off government officials
thirty8paces Champion Author Baltimore Posts:4,511 Points:1,104,555 Joined:Sep 2008	Message Posted: Dec 6, 2012 11:56:56 AM Ignore thirty8paces Report Abuse That's a lot of moola.
JagXKR Champion Author British Columbia Posts:3,149 Points:1,089,580 Joined:Dec 2009	Message Posted: Dec 6, 2012 11:55:21 AM Ignore JagXKR Report Abuse These kind of numbers are almost impossible for the average person to truly comprehend.
TAT36 Champion Author Florida Posts:6,794 Points:1,302,050 Joined:Sep 2009	Message Posted: Dec 6, 2012 11:54:56 AM Ignore TAT36 Report Abuse And not a cent from tax payer subsidies.
CharlieC08 Champion Author Colorado Posts:8,077 Points:1,486,075 Joined:Oct 2008	Message Posted: Dec 6, 2012 11:54:49 AM Ignore CharlieC08 Report Abuse Those dollars mean JOBS!
bra0712 Champion Author Arizona Posts:3,655 Points:766,620 Joined:Nov 2008	Message Posted: Dec 6, 2012 11:53:28 AM Ignore bra0712 Report Abuse good for the rich people
#12#_vabchusa All-Star Author Virginia Posts:752 Points:89,845 Joined:Jun 2004	Message Posted: Dec 6, 2012 11:53:12 AM Ignore #12#_vabchusa Report Abuse And?
mikesr100 Champion Author Sacramento Posts:3,883 Points:1,078,785 Joined:Apr 2008	Message Posted: Dec 6, 2012 11:52:35 AM Ignore mikesr100 Report Abuse OK!
momof5MN Champion Author Twin Cities Posts:4,044 Points:213,810 Joined:Feb 2011	Message Posted: Dec 6, 2012 11:46:04 AM Ignore momof5MN Report Abuse No subsidies.
kuma2000 Champion Author Honolulu Posts:3,213 Points:672,200 Joined:Jun 2011	Message Posted: Dec 6, 2012 11:45:50 AM Ignore kuma2000 Report Abuse The money used by Chevon in their exploration and investments are all profits that they generated from the public - hope this parlays to more oil production and lower gasoline prices.
carpenter4u Champion Author Virginia Posts:2,436 Points:614,895 Joined:Jul 2011	Message Posted: Dec 6, 2012 11:44:22 AM Ignore carpenter4u Report Abuse and I wonder how to spend 36.7k
SpankyMI Champion Author Kalamazoo Posts:2,698 Points:757,480 Joined:Jan 2011	Message Posted: Dec 6, 2012 11:44:10 AM Ignore SpankyMI Report Abuse It takes money to make money!
MRHONEST Champion Author Illinois Posts:2,212 Points:1,674,080 Joined:May 2007	Message Posted: Dec 6, 2012 11:43:43 AM Ignore MRHONEST Report Abuse REALLY?
Wanda127 Champion Author Florida Posts:2,487 Points:913,015 Joined:May 2010	Message Posted: Dec 6, 2012 11:43:11 AM Ignore Wanda127 Report Abuse "Chevron, the nation's second-largest oil company," Wonder why they withdrew from several states if they are so BIG! I had their credit card but got a notice they were closing all their Virginia stations in 2011 when I lived there. Maybe they have the money because they are not in all our states now? But they need to invest in refineries more so we can get the fuel. [Edited by: Wanda127 at 12/6/2012 11:45:33 AM EST]
Yonkers111 Champion Author Scranton Posts:8,331 Points:857,085 Joined:Apr 2007	Message Posted: Dec 6, 2012 11:43:09 AM Ignore Yonkers111 Report Abuse That's what happens when a company does well, they invest in the business. Time to stop trying to demonize the successful.
Prodaddy Champion Author Houston Posts:8,365 Points:1,893,010 Joined:May 2007	Message Posted: Dec 6, 2012 11:39:10 AM Ignore Prodaddy Report Abuse You can plan on more "price gouging " from them
cateyes8264 Champion Author Tennessee Posts:2,957 Points:641,865 Joined:Jul 2011	Message Posted: Dec 6, 2012 11:38:54 AM Ignore cateyes8264 Report Abuse wish i had billions to just piss away
crashintuc34 Champion Author Tucson Posts:4,042 Points:809,940 Joined:May 2010	Message Posted: Dec 6, 2012 11:38:49 AM Ignore crashintuc34 Report Abuse Evil big oil.
georged12 All-Star Author Michigan Posts:836 Points:52,410 Joined:Jun 2012	Message Posted: Dec 6, 2012 11:36:35 AM Ignore georged12 Report Abuse And next year they will be crying for a tax break
LVNV6ofSpades Champion Author Las Vegas Posts:1,624 Points:362,260 Joined:Apr 2008	Message Posted: Dec 6, 2012 11:36:27 AM Ignore LVNV6ofSpades Report Abuse atleast theyre reinvesting it in new technologies & exploration
yeehaw1073 Champion Author Indiana Posts:2,346 Points:1,847,500 Joined:May 2004	Message Posted: Dec 6, 2012 11:34:22 AM Ignore yeehaw1073 Report Abuse that's a lot of money. I expect their profits will more than make up for the expense.
JoeKR Champion Author New Jersey Posts:9,463 Points:1,742,520 Joined:Feb 2006	Message Posted: Dec 6, 2012 11:32:48 AM Ignore JoeKR Report Abuse I guess Big Oil is still profitable - remember this when in a year or two Chevron is crying poor because their profit percentage has fallen.
bobsalwaysmt Champion Author Long Island Posts:4,649 Points:265,265 Joined:Oct 2007	Message Posted: Dec 6, 2012 11:32:40 AM Ignore bobsalwaysmt Report Abuse and their profit will be how much more?
marion1739 All-Star Author Missouri Posts:819 Points:258,410 Joined:Jan 2011	Message Posted: Dec 6, 2012 11:24:21 AM Ignore marion1739 Report Abuse Costs money to make money. Most people forget that and just see the profit side
vernsimpson Champion Author Twin Cities Posts:1,002 Points:257,830 Joined:Jul 2012	Message Posted: Dec 6, 2012 11:23:55 AM Ignore vernsimpson Report Abuse Good for them. But obummer will not let them drill if they find oil.
bicycler Champion Author Ontario Posts:14,815 Points:2,598,445 Joined:May 2005	Message Posted: Dec 6, 2012 11:22:26 AM Ignore bicycler Report Abuse MrLuigi: That would help a lot!
atdinut Champion Author California Posts:1,608 Points:353,985 Joined:Apr 2012	Message Posted: Dec 6, 2012 11:20:18 AM Ignore atdinut Report Abuse Chevron still says it is environmentally minded!?!?
Don20 Champion Author Oklahoma City Posts:9,662 Points:2,617,680 Joined:Mar 2005	Message Posted: Dec 6, 2012 11:20:07 AM Ignore Don20 Report Abuse Chevron Corp. plans to spend $36.7 billion in 2013 on energy exploration and investments, including $3.3 billion of planned expenditures by affiliates, the oil giant said Wednesday. $36.7 billion in one year, and this only exploration. There is no guarantee that they will find oil. But with their experience they probably will...
blazerbob91 Champion Author Milwaukee Posts:6,130 Points:1,880,745 Joined:Aug 2005	Message Posted: Dec 6, 2012 11:18:58 AM Ignore blazerbob91 Report Abuse A step to energy independance
VernonOR Champion Author Oregon Posts:2,905 Points:735,920 Joined:Aug 2010	Message Posted: Dec 6, 2012 11:18:28 AM Ignore VernonOR Report Abuse They would only spent this kind of money because they are expecting big profits.
divebomber Champion Author Nebraska Posts:6,068 Points:1,810,325 Joined:Jun 2007	Message Posted: Dec 6, 2012 11:18:05 AM Ignore divebomber Report Abuse WE'LL SEEEEEEEEEEEEEEE...................!
rawdog1313 Champion Author Lexington Posts:3,294 Points:1,640,955 Joined:May 2008	Message Posted: Dec 6, 2012 11:17:03 AM Ignore rawdog1313 Report Abuse Regulate Oil Speculation!
MrLuigi Champion Author Massachusetts Posts:4,763 Points:964,735 Joined:Jun 2005	Message Posted: Dec 6, 2012 11:13:23 AM Ignore MrLuigi Report Abuse build some refineries!
MINERMANIAC Sophomore Author Houston Posts:201 Points:120,930 Joined:Jun 2008	Message Posted: Dec 6, 2012 11:12:10 AM Ignore MINERMANIAC Report Abuse Hooray! for profits!! That's what we all want!!!!
Bigtex09 Champion Author Dallas Posts:4,278 Points:1,157,335 Joined:Oct 2009	Message Posted: Dec 6, 2012 11:10:31 AM Ignore Bigtex09 Report Abuse congrats
bouncing4fun All-Star Author Sacramento Posts:587 Points:144,990 Joined:Jun 2012	Message Posted: Dec 6, 2012 11:09:42 AM Ignore bouncing4fun Report Abuse Obviously they are making a large profit on the gas they sell.
chyguy3 Champion Author Wyoming Posts:2,855 Points:859,540 Joined:Sep 2006	Message Posted: Dec 6, 2012 11:09:17 AM Ignore chyguy3 Report Abuse Well good for somebody, I guess.
ggg452 Champion Author Manitoba Posts:1,560 Points:329,875 Joined:May 2012	Message Posted: Dec 6, 2012 11:08:47 AM Ignore ggg452 Report Abuse There certainly is money out there.