Quote:
Originally Posted by Shok
Actually Chevron has invested over 500 million in an Algae growth plant for oil extraction.
Algae is the future of fuel oil
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Exactly my point!
$500 million? And we're paying for it
?Chevron Corp.'s fourth-quarter profit climbed 20 percent to $4.14 billion, a company record that continued the most prosperous stretch in the oil company's 126-year history as it capitalizes on high fuel prices that are squeezing consumers and ruffling politicians.
Its profit of $14.1 billion for the full year was also a company record.
The San Ramon, Calif.-based company's earnings for 2005's final quarter, released Friday, represented the most it has made in any three-month period since its inception in 1879. The performance edged the $4.13 billion earned during the second quarter of 2004?the early stages of a two-year boom.
Chevron now has posted record annual profits in each of the last two years, earning a combined $27.4 billion.?
Source: Chevron's 4Q Profit Soars to Record High