Chevron Is Betting Big on U.S. Oil
Energy is vital to modern life, and oil and natural gas remain key sources of that energy -- which is why (NYSE: CVX) is continuing to look for ways to expand its production of these carbon fuels. And that push remains in place even as the company expects demand for cleaner alternatives to expand, thanks to a growing global population. Right now, Chevron sees a big opportunity to invest in production growth in the United States.
From a company-specific standpoint, Chevron has to deal with depletion. The oil and natural gas that can be extracted from any given well is limited and every barrel pulled from the ground is one less barrel that can be extracted in the future. Thus, companies like Chevron are always on the lookout for new investment opportunities to replace the oil that's been drilled.
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Source Fool.com
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