This May Be Chevron's Biggest Move in Years, and Nobody's Talking About It
Chevron (NYSE: CVX) is profiting from the global economic and travel recovery. The company just reported $3.1 billion in net income and over $5 billion in free cash flow in the second quarter, almost entirely due to the snap back of demand for the fuel that moves people and goods around the world and creates the electricity the modern world depends on. And the reality today is that oil and natural gas meet most of that need.
But that reality is changing, and Chevron isn't standing still while the energy world changes around it. The company announced earnings on July 30, but a press release the day before announced something that could, in the years to come, be even more important for investors than they $3 billion in oil and gas profits it reported for the quarter.
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Source Fool.com
