Community Voices: Los Angeles exposes lack of understanding of crude oil’s contributions to civilization | Community Voices

Civilization has benefited from more than 6,000 products made from the oil derivatives manufactured out of raw crude oil at refineries. None of these products were available to society before 1900. With no known replacement for crude oil in the foreseeable future, the Los Angeles City Council voted unanimously Jan. 26 to continue their anti-crude … Read more

US, EU Sanctions on Russia Could Ensnarl Western Oil Companies

LONDON—Some of the West’s biggest oil companies could find themselves in the crosshairs of sanctions now being drafted by their home governments against Russia. The US and Europe aren’t weighing sanctions against Russian exports of oil and natural gas directly given concern they could increase already high energy costs in Europe. But officials have outlined … Read more

Chevron Rakes in $15.6 Billion in Annual Profits as Oil Prices Climb

Chevron Corp. CVX -3.46% had its most profitable year since 2014, reporting Friday that it earned $15.6 billion in net income in 2021, as commodity prices surged on the back of a global economic recovery. The US oil giant’s annual earnings were a dramatic turnaround from 2020, when Chevron lost $5.5 billion after the global … Read more