Chevron Corp. reported the highest profits in its 126-year history Friday, prompting outrage and charges of gouging that are likely to echo through next week as other oil giants report their earnings.
Higher oil prices coupled with increased production from its acquisition of Unocal fueled Chevron's fourth-quarter results and propelled it to its second straight record-setting year.
The San Ramon-based oil giant reported a net income of $4.14 billion in the last three months of 2005 and a profit of $14.1 billion for the year. The total likely would have been higher had the company not reported an estimated $1.4 billion in damage from the Gulf Coast hurricanes.
"They're having a very good year, and that money is coming out of your pocket,'' said AAA of Northern California spokesman Sean Comey.
In 2004, Chevron reported a net income of $13.3 billion, a record at the time. The two-year total of $27.4 billion makes this the most profitable period in the firm's history.
And here come the other industry giants rolling out just as the Chimperor Disgustus sets off to lie about the economy and international affairs again.