Items Tagged With Miranda Marquit

Big Oil Does the Stock Market Victory Dance
Written By: Miranda Marquit
2007-09-21 12:11:22
Just like nearly everyone else, Big Oil is doing a victory dance on the stock market. And why not? The Fed rate cut made money cheaper, so that helps earnings. And oil prices are at record levels. That supposedly eats into Big Oil profits, but it never seems to really reduce profits, and the Fed rate cut will probably take care of that anyway, despite threats by a variety of oil producing countries to move away from the dollar.

Big Oil Encourages Alternative Energy
Written By: Miranda Marquit
2007-07-18 10:01:59
In a seeming about-face by the oil industry, Big Oil is now encouraging the development of alternative energy. As Congress considers boosting clean tech through legislation, the National Petroleum Council is on hand to lobby FOR increased alternative energy. CNN Money reports on this extraordinary move by Big Oil:

"The world is not running out of energy resources, but there are accumulating risks to continuing expansion of oil and natural gas production from the conventional sources relied upon historically," said Alan Kelly, who was ExxonMobil Corp.'s (XOM) general manager of corporate planning before he was selected for this project. "These risks create significant challenges to meeting projected total energy demand."

To mitigate the risks, the report said it will urge "expansion of all economic energy sources," including coal, nuclear, biomass, renewables and unconventional oil and natural gas such as that from oil shale and tar sands.

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Big Oil Expected to Continue to See Profits
Written By: Miranda Marquit
2008-01-18 12:14:23

Photo:Mrs.McD, Creative Commons, Flickr
Big Oil likely to see big profits. Again.

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Big Oil Falls with the Stock Market
Written By: Miranda Marquit
2008-10-10 13:47:43

Photo: tsevis, Creative Commons, Flickr
As the stock market tumbles for yet another day, Big Oil stocks find themselves hard hit. Indeed, energy investments, from Big Oil companies like Exxon (XOM) and Chevron (CVX) to the Amex Natural Gas Index (XNG) to alternative energy like First Solar (FSLR) are suffering massive losses as the hemoraging continues. Oil companies, especially, are feeling the pinch.

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Big Oil Reaps Big Profits
Written By: Miranda Marquit
2008-04-03 11:06:10

Photo:Vlad Lazerian, Creative Commons, Flickr
A couple of days ago Big Oil executives talked to Congress about their big profits. Exxon (XOM), BP (BP), ConocoPhillips (COP), and Chevron (CVX) are all on the rise today in stock trading. The Boston Herald reports on Big Oil's defense of record profits at this time:

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