ktvu is tom baker is at chevron's richmond refinery and tom chevron brought in replacement workers. now the union has some safety concerns, too. and they have a reason to have safety concerns as you will see, but what's really interesting is they're working in shifts, just like they do when they work and what it amounts to is basically this. chevron's refinery was under replacement worker control for less than eight hours when it notified contra costa county of the need to use open air flooring of burning gasses. available there to prevent explosions. chevron's bringing in replacement workers raises questions about safety. chevron says the union's demands exceeded what the company believes to be reasonable. and move beyond what was agreed as part of the national pattern bargaining agreement. but even with regular staff, consider chevron richmond's explosions, fires and flares in 1989, a major explosion and fire that injured workers and firefighters. in 1999, another explosion and fire admitting sulfuric gasses that send hundreds of neighbors to hospitals. 10 years ago, a massive fir

. >>> hundreds of bay area chevron workers strike, the changes being called for from the company. >>> she will be the first black woman named to the countries highest court. i am on capitol hill with the supreme court confirmation hearing.>> good afternoon. our top story on kpix 5 and assuming a cbs news the area, google is facing a new lawsuit from a former employee that is black. jocelyn moran has a look at the claims . >> reporter: the complaint alleges things from google play paying black employees less to often requiring them to show edification. civil rights attorney, ben crump, along with others is leading the lawsuit and they filed this lawsuit seeking class-action status. former google employee april curley spoke as she said in 2014 she was sought after by google and landed her dream job is diversity recruiter on the university programs team. she said she felt compelled to be vocal about treatment on black employees, and what she says are racist policies and behaviors. she says she was terminated after speaking up.>> after dedicating so much of my life to make sure that black

the union says it encouraged chevron to return to the bargaining table that chevron does right now it is refusing. >>> today open unified is lifting its mass requirement outdoors that means that will be optional outdoors students, staff, volunteers and visitors. as far as in north face a mask will be wired through at least april 15th, california shifted its guidance en masse from acquired two highly recommended. most bay area school districts aligned with the new guidance, but individual districts can ill choose to implement stricter firemen. open unified that they are working with lever partners and other stakeholders to determine the future of indoor masking after april 15th. now come open unified earlier this month have said they were aping the mass requirement over worries about a rise in case after spring break. spring break is scheduled for the beginning of april york >>> as we take a look at the roadways right now, finally some better news drip for the san rafael bridge. i discovered that lanes are opening up. this is all in a big rig crash that had at least one lane be shut do

amy: good morning. 500 workers here at chevron are now on strike.arlier this morning getting ready for the strike that was into effect at midnight. thethethetheth strike impact gas prices? chevron says it will not, that the provider will continue to produce. but a uc berkeley professor we spoke to said he is not so sure. >> it depends on two major factors. how much does chevron have directed down production from this refinery? it is claiming it will continue to be able to produce what we don't know how much output will go down. amy: he says, will california be able to get gas into the state and how quickly? a statement, from chevron reads we believe our contract offer is fair and competitive to concerns. however, union demands exceeded what the company believes to be reasonable. the union and most refineries across the country last month agreed to a 12% raise. the local union has asked for 5% more on top of that because of the high cost of living in the bay area. union leadership says both sides are far apart and there are no plans right now to retu

hundreds of chevron oil refinery employees and richmond are on strike, saying chevron isn't offering enough pay to its employees and the experts worried this could make the gas price situation in california even worse. ktvu is james torres and richmond now, but that's right. started right at midnight. good morning, james. hey, good morning, dave. more than 500. people will walk off the job today. dozens of them already here this morning. you can see some of the materials they have out here today. unfair labor practice strike against chevron. you've got signs like this. save refineries save lives. megaphones here in place, and people have been here since midnight this morning. they're kind of doing this and shifts of six hours. this is along just off of 5 80 here near the refinery here in richmond and people here are saying that chevron is just unfairly. paying them the wages that they think that they are not deserving about 600 people expected to be off the job today, protesting those contract negotiations with chevron. the main dispute here is going to be the pay. the oil company sa

chevron claims production won't be impacted. "today in the bay's" stephanie magallon explains. >> reporter: nearly 500 workers at the chevron refinery in richmond are going on strike. a plant that produces a big portion of california's gas. >> if we were to lose all of the output from that refinery, which is over 10% of the state's refined products production, that would be a huge hit and it would be taking place at a time when the market is already very tight in california. >> reporter: the average gas price in california is $5.85, according to aaa. >> the impact on california gas prices will depend very much on how well chevron is able to continue to staff and operate the refinery. >> reporter: local union representatives tell us fuel workers at this refinery, like the rest of us, are dealing with inflation and are asking for a 5% increase in wages and for safety issues to be addressed. >> we're just trying to keep from eroding the standard of living for our workers, all blue collar workers know it is getting hard to live in t

chevron says it will not. we talked to a uc berkeley professor who says he thinks that is still to be determined. leave our contract offer is fair, competitive, and sponsored to usw concerns. however, union demands exceed what the company believes to be reasonable. this is the first strike here in or that 40 years. currently, there are no plans to return to the bargaining table. jobina: today marks the beginning of the confirmation hearings for ketanji brown jackson. it is expected that democrats will secure the simple majority vote to make her the first black woman on the supreme court. vice president harris could serve as the tie-breaking vote if needed. republican senators precip jackson about her record and view of the constitution. the supreme court confirmation hearings get underway this morning at 8:00 our time. we will bring them to you live on abc news seven.com and on our app. you can download that for free on roku, apple tv, fire tv, android devices. we will also carry a special report online and on

chevron says it's bringing in workers that have been tried. eating for a year to replace those on strike. but won't say how many, adding we anticipate no issues in maintaining a reliable supply of products to the market, but that's not guaranteed and could impact california's current average price of gas now at 5 85 a gallon, according to uc berkeley professor severin bornstein, it would be coming at a very unfortunate time because we already have a shortage of refinery capacity in california right now and so losing even one or 2% of the state's refinery capacity. would probably result in a noticeable increase in gasoline prices. there are also safety concerns. the richmond progressive alliance, which advocates for safety and a better environment. worries about replacements operating dangerous systems that are prone to problems even during normal times, with experienced union workers were really concerned about the well being of richmond residents as the plant is being run by non union workers who haven't received the proper training or have t

striking workers say do not blame them for any future gas price fluctuations with chevron saying that they will continue normal operations during this strike and said they can safely and reliably provide the products consumers need, no new talks already scheduled. -- are scheduled. >> one of the world's biggest events for gamers is underway, the developers conference is where latest gadgets. it is thought to draw 200 exhibitors and 100 speakers to -- it is the largest event to take place at the center since the building reopened last september. >> former google employees are sharing stories what they called discrimination while working for the company. they are people of color who are part of a lawsuit filed against google. the each claimed to have faced racial discrimination that pushed them out of a dream job. april worked at google for six years, she says despite having two college degrees and years of experience, she was underpaid and never given a promotion. >> i began to question the white dominant policies in practice. policies that have ultimately led to the under leveling and

now dion the union says chevron is refusing to return to the bargaining table. well chevron says it's committed to continue negotiations so clearly still there's a lot to play out here in the newsroom tara campbell abc 7 news write a story. we will continue to follow tara many. thanks to you. now new at 11 a series of sideshows this weekend across the bay area has neighbors annoyed and concerned police report at least three massive side shows spanning from santa rosa to oakland and even fremont abc 7 news reporter jr. stone joins us now to explain that the biggest concern is the increase in level of violence at these sideshows jr. well, it certainly is dion we came through oakland earlier tonight a day after one man was shot and killed during a sideshow and two others wounded by gunfire and as all as that of that is happening in oakland the same sort of massive shows are being seen across the area sideshows in both. rosa and fremont this weekend, too. this is over the weekend in the bay area. it was loud it was the nerve-wracking of kenny mccarty lives near this

joining us now is mike wirth, chief executive officer at chevron. joining us on investor day when you celebrate more than a 100 year legacy at chevron and we are back at $100 oil. i wonder if the price is strong enough now that you do ramp up more production than you had envisioned? mike: it's good to be with you and we did have a good investor day today where we laid out a plan at much lower prices than we see today to return more cash to shareholders. buyback guidance and -- had indicated we expect shareholder distribution to be 50% higher than they were last year. even at a much lower price, our company is strong and getting stronger. the market situation is unfortunately one we have seen before, where our industry goes through cycles. we've been in a time when prices have been very low because demand has been depressed during the pandemic. and then demand has recovered very quickly and the economy has recovered. in a commodity market like oil and gas, demand can move much faster than supply in both directions, which has created outside moves to

hundreds of chevron workers walked off the job at the chevron richmond refinery. they are asking for a 17% pay raise to offset inflation and rising health care costs. leslie brinkley drilled into what is at stake with this strike. leslie: the picket line was clearly marked at the entrance to chevron richmond, which produces 10% of california's refined oil products. those on the picket line say chevron is not bringing in outside workers, rather relying on engineers and technical staff to take over for the striking operators. >> we believe it puts the community and environment at risk in the name of profit. leslie: united steelworkers represents one third of the workers and says they will be out in force 24/7 as they ask for a bigger bump than the 12% the company is offering. they also want solutions to fatigue and safety issues. >> the cost of living in the bay area has gone to the point that it is hard to live. our workers have to live 45 minutes to an hour out, so we are asking for relief for a company that just promoted -- just reported 56 point billion dollars

i'll take 'em. ♪ ♪ >>> hundreds of workers at chevron's richmond refinery going on strike.could affect your wallet this morning. >>> plus the russian demand rejected by ukraine as the country continues to resist the invasion. >>> a historic confirmation hearing just hours away, what to expect today. >> and oakland unified is lifting its mask requirement for outdoors but what about invoice? we will tell you where things stand coming up. >>> good morning, it is monday, march 21st. >> good morning to you, so glad to have you with us. hope you had a great weekend. we went from last week talking about cool temperatures and rain to a warm-up this week. >> going to be a little bit of whiplash in that regard. we could break records tomorrow like mid-80s and we're kind of on the way here today. today is already like 5 to 6 degrees warmer than we were yesterday in terms of data hot daytime highs. let me start you out with monday morning's numbers. mid-40s for most locations. oakland, 46. 48 in concord

it doesn't matter they are willing to decarbonize, we need chevron to be chevron right now, otherwisepecially with the russian situation and probably goes higher. now, chevron's stock is an all-time high. it effectually doubled this morning. that's all for the oil and gas business of course, this industry remains a political mindfield. natural resource companies are always hostage to governments that rule over their acreage while chevron doesn't have big tie-ups with large russian producers, like the one that hobble bp, they do have a major pipeline to take it from the stand to lower a million barrel per day pike what happens if russia sets down to retaliate against our government sanctions at the same time washington, president biden is trying to lower oil prices, says he is talking to major producers you know what, i talked to them, too much i haven't heard anybody who has spoke to him he seems content saudi arabia to pump while being saving domestically i think that's a mistake this is something we will be discussing with the ceo of devon energy that joins our meeting friday you do

with chevron. these employees say that they are going to be here for at least probably a few more minutes when another shift of people come in, just after six a.m. the main dispute here is between the workers and chevron. it's really just all about money. the oil company says it offered the same contract what they call a national pattern agreement to a number of other unions who have already accepted that. but the union representing these chevron employees in richmond known as the united steelworkers. local five says they only asked for a slight increase in pay, which they believed was reasonable. feel that company can report $15 billion profit in the highest profit since 2014. they can give them the people whose bachelor making these earnings off of it could give him a boost and just help them out. chevron releasing a statement ktvu saying in part , the union's demands exceeded what the company believes to be reasonable and move beyond what was agreed to as part of the national pattern bargaining

chevron's move of bringing in replacement workers is now prompting safety concerns chevron's bringing in replacement workers raises questions about safety. chevron says the union's demands exceeded what the company believes to be reasonable and moved beyond what was agreed as part of the national pattern bargaining agreement. but even with regular staff considers chevron richmond's explosions, fires and flares in 1989, a major explosion and fire that injured eight workers and firefighters. in 1999, another explosion and fire admitting sulfuric gasses that send hundreds of neighbors to hospitals 10 years ago, a massive fire injured six workers and sent 15,000 neighbors to hospitals. the federal government cited chronic failure to replace aging equipment penalizing it $2 million in fines and restitutions in the last decade, local media have reported on dozens of flares, a safety measure designed to prevent explosions. beyond safety, though, can chevron maintained production, which has direct ties into the price of gas statewide. we already have a shortage of refinery capacity in califor

refinery fire that chevron's refinery in richmond.we're at a time where refineries are already running pretty hard and losing some capacity. if that happens, would push prices up even higher. oil prices are the main reason we're seeing such high gas prices. and that, of course, is due to russia's invasion of ukraine. there's not much we can do about that in california. the one thing i

chevron says it's offered essentially the same deal in what's called a national pattern agreement to nine other unions and six have ratified those agreements in a statement, referring to usw local five chevron says. in part , the union's demands exceeded what the company believes to be reasonable and moved beyond what was agreed to as part of the national pattern bargaining agreement. we feel that company can report $15 billion profit and the highest profit since 2014. they could give the people whose baxter making these earnings off of they could give him a boost and just help them out. chevron says it's bringing in workers that have been training for a year to replace those on strike. but won't say how many, adding we anticipate no issues and maintaining a reliable supply of products to the market. but that's not guaranteed and could impact california's current average price of gas. now at 5 85 a gallon according to uc berkeley professor severin bornstein. it would be coming at a very unfortunate time because we already have a shortage of refinery capacity in california right now a

chevron's bringing in replacement workers raises questions about safety. chevron says the union's demands exceeded what the company believes to be reasonable. and move beyond what was agreed as part of the national pattern bargaining agreement. but even with regular staff, consider chevron richmond's explosions, fires and flares in 1989, a major explosion and fire that injured eight workers and firefighters. in 1999, another explosion and fire admitting sulfuric gasses that send hundreds of neighbors to hospitals 10 years ago, a massive fire injured six workers and sent 15,000 neighbors to hospitals. the federal government cited chronic failure to replace aging equipment penalizing it $2 million in fines and restitutions. in the last decade, local media have reported on dozens of flares, a safety measure designed to prevent explosions. beyond safety, though, can chevron maintained production, which has direct ties into the price of gas statewide. we already have a shortage of refinery capacity in california right now and so losing even one or 2% of the sta

at the chevron oil refinery in richmond. six hours later, another wave of about 60 to 70 employees continued the strike working people that we've had enough. we've been losing long enough, and we came white is the vice president for the united steelworkers local five union. he speaks for each of these employees who say chevron is not doing enough for its employees, he says. among many complaints, the cost of health insurance and living is increasing. and workers' wages are not. we're just trying to get our workers who sacrificed during kobe. they were out here for two years, exposing themselves people getting sick and we were watching our managers stay home work remotely and come back to 30, 40, 50 and percent bonuses on their wages and more, and we're just asking for a little relief. chevron's latest statement, ktvu, released over the weekend says in part the union's demands exceeded what the company believes to be reasonable and move beyond what was agreed to as part of the national pattern bargaining agreement, the oil co

the previous contract between chevron and united workers local five expired last month.he union reach a pattern agreement with the oil industry on wages and working conditions last month, but each of the roughly 200 per dissipating units also bargained over local issues. gas prices in california are already the highest in the country. experts say the refinery supplies around 13% of californians in the entire production capacity. california get some of its gasoline from states like washington and parts of asia but it would take weeks to bring in extra supplies. >> this would be a bigot of the refinery closed down entirely. i don't think people anticipate that happening, but even if we lost 5% of state supplies, that would really be noticeable right now. >> they sent a statement saying in part, quote, it is fully prepared to continue normal operations. we anticipate no issues in maintaining the reliable supplier products in the market. again, the contract ended last month for these union workers and expired on february first. and members since then have been working on a r

plus, bay area chevron refinery workers walk off the job.iking as a potential impact it could have on our already record high gas prices. it is 6:51 and we'll be back with you in just two minutes. >>> welcome back on this monday morning. it's 6:54. here's a look at some of the top stories we're covering for you on "today in the bay." we begin with breaking news in southern china. first responders are on their way to a spot where a passenger jet crashed into a mountainside. the china eastern airlines plane went down in guangxi province. we are getting our first look at the video from near the crash scene. the plane had 123 passengers and nine crew members on board. it is not clear if anyone survived. the "today" show is following these developments and will have coverage after "today in the bay" at 7:00. >>> to the latest on the russian invasion. a chemical plant in sunni, ukraine, is leaking ammonia after being targeted by russian missiles. emergency crews on the ground have since contained the leak, but they say a wide area is now contamina

hundreds of chevron employees at the richmond refinery are on strike. the big question, will that send our gas prices even higher? here's nbc bay area's sharon katsuda. [ horn honking ] >> reporter: steel workers at the chevron refinery in richmond walked off the job just after midnight. they're demanding higher pay and more staffing to maintain safe conditions as demand for oil booms. union leaders say the pandemic has pushed its members to the breaking point, triggering their first strike since 1980. >> for our kaiser, it went up 23%. we asked for a little relief, the company made no more increases on their behalf. so that entire increase -- the brunt was taken on by our workers. >> reporter: the steel workers union represents about 500 employees. the union's contract expired last january and negotiations have stalled. there is concern that if production falls due to the strike, pump prices will rise. chevron issued a statement saying it has brought in nonunion workers and is fully prepared to continue operations. the company also says it remains read

chevron said it would. there is still hope. >> i love my members so much, but i know they will deal with it. >> reporter: experts say this could have an impact on your wallet when you go to the gas pump depending on how long this lasts. kpix 5 news. >>> investigators are looking into a house fire in san leandro. alameda county fire tweeted videos of the flames shooting from the home near garcia and lexington avenue about 3:00 this morning. to people in the home have been displaced and the red cross is helping them. no one in the house or any firefighters were injured. >>> one person was injured after a freight train carrying lumber derailed in san bernardino county. this happened near colton off the 10 freeway. take a look at the aftermath. the derailed train sent 13 railcars and three locomotives off the tracks. union pacific says one of the cars carrying wood caught on fire. crews were able to put out the fire. union pacific says a contractor was hurt as crews worked to clear the tracks. >>> getting new d

a la medianoche iniciÓ la huelga, cuando la uniÓn usw, aquÍ local 5, no llegÓ a un acuerdo con chevronun aumento de salario del 5%, y mÁs medidas de seguridad dentro de esta misma planta, quÉ mejor forma que saber por quÉ estÁn aquÍ estos trabajadores el dÍa de hoy, que hablando directamente con uno de los representantes en este momento conmigo, josÉ chÁvez, lleva 20 aÑos trabajando en esta planta de richmond, cuÉntanos por quÉ estÁs aquÍ el dÍa de hoy, josÉ. >>> estamos aquÍ porque nuestros trabajadores rechazaron dos ofertas de la compaÑÍa y quieren un aumento justo, el 2. 1 no es justo en california. esta compaÑÍa hace billones de dÓlares para que nos ofrezcan 2.5%, no es justo para los trabajadores. aquÍ estamos en huelga por esa razÓn. >>> ok. muchas gracias, josÉ. mÁs adelante, les tendremos mÁs informaciÓn porque lo que muchos se preguntan es si esto afectaÁa los precios de la gasolina, es muy pronto para saber, chevron dice que no creen que suceda, porque seguirÁn con las mismas medidas con la producciÓn que tenÍan antes, pero a su vez les mandamos un correo para ver si las con

chevron's bringing in replacement workers raises questions about safety. chevron says the union's demands exceeded what the company believes to be reasonable. and move beyond what was agreed as part of the national pattern bargaining agreement. but even with regular staff, consider chevron richmond's explosions, fires and flares in 1989, a major explosion and fire that injured eight workers and firefighters. in 1999, another explosion and fire admitting sulfuric gasses that send hundreds of neighbors to hospitals 10 years ago, a massive fire injured six workers and sent 15,000 neighbors to hospitals. the federal government cited chronic failure to replace aging equipment penalizing it $2 million in fines and restitutions in the last decade, local media have reported on dozens of flares, a safety measure designed to prevent explosions. beyond safety, though, can chevron maintained production, which has direct ties into the price of gas statewide. we already have a shortage of refinery capacity in california right now and so losing even one or 2% of the stat

comfortable with chevron somewhere put it this way. consensus. stick with energy. defense here lockheed martin. a lot of people looking for kind of some stability as the rest of the market has been shopping around, but are these kind of all too consensus? seen whips on moves in energy. see defense could be next, depending on the situation in ukraine and how that evolves why these it names as a buy here >> think about defense think staples, consumer stapling, health care. those are still at play, but you have to include value over growth when you look at value, energy is a little volatile, but look at value and some financials in there. chevron, to me, pe of 13 yield of about 3.6%. gas prices yeah, volatile but remain elevated. also, chevron is doing things that have nothing to do with russia's war with ukraine or other things with earnings announcement to awire renewable energy group lower carbon emissions esg talk there the point, more to chevron than just gas prices. long as they stay elevated, i think most agree s chevron is a place to have money. >> and mceachr

dozens of workers from chevron now walking off the job. this all started at 12 01 this morning, but the majority of people you see here haven't been here since midnight. the kind of handling this and shifts they have about four different waves. every six hours. a new group of people about 62 7 of them will come here just off of 5 80 make sure they have their voices heard holding signs out here. they've done a couple of champs. they've done some marches. as well. the main dispute that we're talking about this morning is about money. the oil company says it offered the same contract what they calling national pattern agreement to a number of other unions who have already accepted that. but the union here representing the chevron employees in richmond, known as the united skill workers, local five, says they only asked for a slight increase in pay, which they believe was reasonable. because the cost of living in the bay area is much higher than in other parts of the country. we spoke to a union representative this morning out here, he says th

but chevron claims production won't be impacted. here's nbc bay area's stephanie magallon. >> reporter: nearly 500 workers at this chevron refinery in richmond are going on strike. a plant that produces a big portion of california's gas. >> if we were to lose all of the output from that refinery, which is over 10% of the state's refined product production, that would be a huge hit, and it would be taking place at a time when the market is already very tight in california. >> reporter: today's average gas price in california is $5.85 according to aaa. >> the impact on california gas prices will depend very much on how well chevron is able to continue to staff and operate the refinery. >> we've been negotiating. >> reporter: local usw union representatives tell us steelworkers at this refinery, like the rest of us, are dealing with inflation and are asking for a 5% increase in wages and for their safety issues to be addressed. >> we're just trying to keep from eroding the standard of living for our workers. it is getting hard to live

so what does chevron say about the workers going on strike? company says the union's demands exceed what they believe is reasonable and they argue they already came to an agreement with union leaders. in a statement, chevron writes, quote, they are fully prepared to continue normal operations to safely and reliably provide products that consumers need. so we had a chance to speak with those union members. they say they will continue to picket as they wait for an agreement. we will also continue to keep a close eye on any domino impact this could have for our gas prices here in the state of california. we're live in mill valley, cierra johnson for "today in the bay." >> thank you so much. >>> as we talk about gas prices, we'll take a live look at this shell station on fremont's mission boulevard. gas prices continue to soar and you can see it is more than $6 for a gallon of regular unleaded. aaa says drivers in san mateo are seeing the highest gas prices in the bay area with an average of nearly $6 per gallon. san francisco close behind. things

chevron says. it's bringing in workers that have been tried. waiting for a year to replace those on strike. but won't say how many, adding we anticipate no issues and maintaining a reliable supply of products to the market. but that's not guaranteed and could impact california's current average price of gas. now at 5 85 a gallon according to uc berkeley professor severin borenstein. it would be coming at a very unfortunate time because we already have a shortage of refinery capacity in california right now and so losing even one or 2% of the state's refinery capacity would probably result in a noticeable increase in gasoline crisis. there are also safety concerns. the richmond progressive alliance, which advocates for safety and better environment. worries about replacements operating dangerous systems that are prone to problems even during normal times, with experienced union workers were really concerned about the well being of richmond residents as the plant is being run by non union workers who haven't received the proper training or have t

this is day two of a chevron workers strike in richmond.t how much we all pay for gas. then march redline services, making a slower return with some temporary changes will tell you rich riders are being affected coming up. from ktvu. fox two news. this is mornings onto and wilder gets warm. yeah for seven o'clock. good morning. i'm gasia mikaelian and good morning. i'm dave clark. it's tuesday. it is march. 22nd i'm glad you're with us. i'm glad you're with us and really glad to see steve paulson. yeah, he's got the latest on your web. i do indeed. and it's going to warm up. i think you nailed it there. guys. browsers is right. claudine used that same expression earlier because it's pretty warm already. for some, not for all, but for most fifties sixties, our good friend chris henry. towards morgan hill said temp jumped suddenly from h breeze that's ithe south san jose are seeing some really warm temp santa rosa 60 to the city is 61 . livermor

i hope you were all watching mike worth this morning on chevron. oceans of cash coming back to corporate america, not just confined to chevron. we're hearing it day after day with company after company making announcement. chevron raised their buyback kohl's doubled their dividended added to the buyback wendy's has a $100 million buyback. hostess a $150 million buyback oceans of cash in dividends, buybacks and some cases like chevron reducing debt. i know we're all fixed on the president's speech to want and we should be, but for the markets it's powell on wednesday testifying in the house that matters. i heard threading the needle 50 times in the last week but he has to focus on slower growth, the market has come to believe there will be fewer rate hikes than they thought in 2022. this may be a fantasy, the market can make itself believe things that aren't necessarily going to happen. it wants to believe that right now. the story for stocks in 2022, slower earnings growth and multiple compression whether the multiple compression continues is going

. >>> hundreds of workers at the chevron richmond refinery are on strike. chopper five is showing numbers of the united steelworkers local five outside the refinery entrance. the current labor contract expired in february, and since then, negotiations with the local union have failed. >> they are definitely not moving their feet. we are just looking for a little respect, we are looking for a fair and equitable contract, something for our people. >> reporter: chevron sent a statement saying, quote, we believe our contract offer is fair, competitive, and responsive to usw concerned. we have negotiated in good faith for months, reaching two tentative agreements which were rejected by the union and we are ready to continue discussions chevron also says the refinery is still up and running, which is critical, as gas prices are already high. >>> the new omicron variant known as ba 2 has been detected in the bay area. health experts say the variant is highly transmissible, but has not yet caused a surge in hospitalizations. kpix 5 len ramirez has more from san jos

chevron for higher wages and better benefits .rday . and this is new video from this morning showing workers on the picket line. out in front of the refinery this morning. some experts believe the strike could push gas prices even higher statewide. chevron richmond produces about 15% of california's gasoline. this morning, chevron told us the company is looking forward to continuing discussions with the workers union so everyone can return to the job. the chp says the record high cost of gas is likely the reason more california drivers are running on empty these days, officers say. more and more drivers are running out of gas and winding up stranded on busy freeways, highways and bridges. the chp points out. the cost of being stranded on the road is a lot higher than a tank of gas. even with today's prices will call for a tow truck and cost more than $130, plus the cost of gas. for your roadside service. all right, let's see what's happening on the roads right now. at eight await, it's been a morning commute with a few problems. s

. >> hundreds of chevron refinery workers going on strike in a matter of hours. what that could mean for already skyrocketing gas prices. >> and how the peninsula is standing against the war in ukraine and calling to end attacks and suffering. >> tesla caught on camera catching air and crashing, why police are now searching for the driver. >> we start with a major 3 1/2 hour rescue mission in the east bay. >> this is happening in antioch near buchanan on somerville road within the last two hours. crews were able to pull the man to safety. it took 50 people to get the man out of the drain. he remained responsive. firefighters say the man would still be underground had it not been for a helpful passerby. >> i was just walking by and i heard him yelling from the pipe. then all of a sudden, noise lo. d so i called the police. >> dozens of firefighters and paramedics got to the man who was finally pulled out but it wasn't easy. >> after a long 3 1/2 hour ordeal, crews from the contra costa county district, as well as antioch pd, were able to work together to mitigate

i did have a chance to speak with that individual in response to chevron saying there was already an agreement met. he said it was at the national level. not here at the local bay area level. you can see and hear the support for the workers here. they say they'll stay out here as long as they need to to get their demands met. they've been working 70 days without a contract, since the end of january. them they're in it for the long haul. we're live in richmond. nbc bay area news. >> thank you. >>> as we mentioned, the gas prices continue to soar across the bay area. this is video from a shell station in fremont on mission boulevard. more than $6 for a gallon of regular unleaded. aaa says drivers in san mateo seeing the highest gas prices in the bay area. the average, nearly $6 a gallon. san francisco is close behind. the price is a bit cheaper in solano county. the average there is $5.78 a gallon. >>> a live look now at the santa clara county building where county supervisors are announcing a plan aimed at helping people in the bay. it is to help with priority for families, veterans,

refinery fire that chevron's refinery in richmond. unfortunately, we're at a time where refineries are already running pretty hard and losing some capacity. if that happens, would push prices up even higher. oil prices are the main reason we're seeing such high gas prices. and that, of course, is due to russia's invasion of ukraine. there's not much we can do about that in california. the one thing drivers can do is shop around because those average prices you showed at the beginning, aren't the price everywhere. and it's not unusual to see a huge price differentials between stations. i live in a rondo where there's an off-brand station that is $0.60 a gallon cheaper than the chevron station. that's about 3 blocks away. if we do that, not only do you get a lower price, but you put pressure on those branded stations to lower their prices as well. yeah, professor, we did a story on that particular station. of course, it's a point. it's diminishing returns. if you're driving too far to get the deal. absolutely. yes. so we for around. yea

chevron also said it is to continue number operations and don't anticipate any issues re- maintaining a supply of options to the market. depending on how long the strike lasts, experts say this could have an impact on your wallet when you go to the gas pump. >>> san jose police say a woman killed her own mother. cheryl yee is now booked into the santa clara county main jail. police say she called authorities yesterday around noon confessing to the crime. officers arrived to find a woman with at least one stab wound who died at the scene. he was then arrested. this is the third homicide of the year in san jose. >>> new video shows thick smoke rising up out of a tiny homes community in oakland. the fire broke out around 10:00 a.m. just south of lake merritt chopper, firefighters sprayed water over the remnants. this is at lakeview village where homes for up to 65 people just opened last november. firefighters say no one was hurt in today's fire. >>> fire crews are looking into this house fire. alameda county tweeted video of the flames shooting up from the home near garcia and lexington

yesterday chevron closed at $157.71 a share, and i was wondering if it would be wise to sell chevron the money in a cash account and then buy it back when the prices drop >> alison, too cute. i think mike worth is doing a remarkable job people were gasping at this. are you kidding me i think mike is amazing, he really is. i think you have to ride with him. i think you will look back and say, why did i think i could get out and get back in again? thank you for the call dividends make for an unassailable defense against a volatile market. in times like these circle the wagons around a couple rapidly raising dividends making you feel good because they're doing so good. you don't raise your dividend to cut it i like every one of these companies. much more "mad money" including my exclusive with williams-sonoma. there's a dividend booster, after new sustainability goals we will talk about, i'm learning more about the home retailers mission to do well, do good and not just be a home retailer. >>> then it is time to change the way the fed holds its meeting. jenny will love it all of the lig

and right now it's $5 and $0.97 at this chevron. but those prices could go up depending on how long the strike lasts at the refinery, which started at 12. 0, one this morning. in fact, let me show you some video of it. we're talking a few dozen people initially hit the picket lines. the strike line spent altogether. we talking about 500 people that are fighting for a new contract. and of course, the center of all that they would like more money. chevron believes that there giving as much as they possibly can, that it's fair offer. but the bottom line is it's still back and forth and caught in the middle of all of this. is the drivers, right? we are the ones who are feeling the pain at the pump because chevron's refinery produces about 13% of the state's oil supply jet feel car fuel, other oil products and any disruption, as they say, and they're very tight supply chain could impact us at the pumps. in fact, even before this many drivers, they were already switching from driving themselves to public transportation. >> i decided to do

we are focused look at chevron, coca-cola, truist a cross section. that dividend yield for those three holdings are about 3.25% we have seen a lot of risk mitigation when you own those. that is a tilt we will move forward with to close out the quarter. >> yeah, i'll not call those names boring, but considered bothering compared to the high growth chevron is trading like a tech stock. is that a sign, jeff, of how you see the entire markets this year which is just return of capital, get capital appreciation if you can, get dividends, get through 2022 >> i think we have to digest the fact we have to take the myopic view we expected higher volatility. it is a midterm election year. we are focused on sector rotation we have industrials and financials and the shift from growth to value. it is not a straight line. i'm optimistic i think we will see a lot of the returns. historically speaking going back 85 years all of the rurneturns in the election year come before november it will be continued volatility. there is a lot that has tilts toward it. we have ea

chevron says the jobs done by the 500 striking workers are being done by others and "we do not expect there to be supply disruptions regardless of the status of the union contract negotiation talks we fully anticipate to safely and reliably provide the products that consumers need." >> if the gas price does increase it shouldn't be our fault. we're probably asking for what every californian wants, is a little break. >> reporter: talks between the two sides resume tomorrow. in richmond terry mcsweeney, nbc bay area news. >>> an east bay mother says she did not kill her young daughter. samantha johnson appeared in a merced courtroom this morning. the hayward mother pleaded not guilty to murdering her 8-year-old daughter. johnson's boyfriend dante jackson is also charged with murder. he is still, though, on the loose. merced police are offering a $3,000 reward for any information that leads to his arrest. 8-year-old sophia mason was found dead in a home in merced earlier this month. her relatives reported her missing, telling police they had not seen her since december. at this point pol

you have halburton and slumber shea and chevron up.hat we're seeing on the dowd sign. metals are doing a little bit better overall we're seeing tech, though, most of the big tech names are down semis are week, as well. banks weak, as well. the airlines, once again, showing signs of decline you can't trade this market. i mean, it's really just impossible to trade it because of the interday price swings the issues -- we know the issues they're obvious here we need evidence that inflation is peaking out you can't find that kind of evidence during a war on top of everything else that we're dealing with that's the fundamental problem we don't have an answer for this question we were dealing with reflags before now we're having to deal with the possible issue of stagflation. look what it does to the market. look how it changes the market dynamics what we've been dealing with for the last 10 or 12 years is low inflation, low commodity prices, low gold, and high stock returns. we are now in the exact opposite situation. we're in high inflags,

chevron's richmond refinery is one of the biggest in the state. it produces about 1/6 of all gasoline bought in california. chevron says it has enough replacement workers that it doesn't expect prices will go up. there are no new contract negotiations scheduled. russia shows no signs of stopping its attacks on civilian targets in ukraine with some cities now nothing but rubble, forcing millions of people to flee the country. alexis at mcadams is in poland. now, with this update as thousands of people continue to flee from ukraine. refugee centers like this behind me or set up in nearby poland to offer those people are helping hand. this comes as russia continues its invasion. maria maria. polls almost 99% destroyed. the planes dropped bombs everywhere. it was horrible and we took a risk and we left. they are some of the lucky ones who were able to escape as hundreds of thousands of ukrainians remain trapped in marea, paul. the ports city wiped out by weeks of relentless attacks everyday people defending the front lines. they did not expect the ukr

been out here since midnight, and they say they'll stay on the picket lines and take shifts until chevron comes to an agreement with them. those driving by in cars fueled by this refinery honk their horns to show support for the workers on strike. >> we have a machinest, pipe fitter welders, warehouse people, riggers. we have lab technicians. we have people in the packaging and lube plant and operators. >> reporter: as covid risks rose and negotiations stalled they made the decision to strike for the first time since 1980. >> we jeopardized our health and taking covid home to our family members. a lot of people did get sick going to work but we kept this place goin and those people working remotely are getting 20% 30%, 40%, and upward bonuses. >> reporter: earlier the company stated it is fully prepared to continue operations to safely provide the product consumers need and remains ready to negotiate. according to aaa a new record as the average price in california inched up to $5.86 per gallon. >> the impact on california gas prices will depend very much on how well chevron is able to st

c conoco, chevron, showing signs of exhaustion.n the material sectors down notably today the leadership board on the s&p 500 hopes for more spending. the airlines are trading up, like united and american mastercard and all the credit card companies are trading up. the car companies, oil companies, gm and ford are all trading up again, hopes for more spending out there. the economy remaining strong have you looked at the new hilus? we don't have all the commodity names anymore. there's utilities on it, like first energy there's a couple industrials that haven't been there before, like union pacific and this law to reach like public storage just noting, we've had one great rally since march 8th in the got tgo -- bottom >>> the two-year bond rising to the highest level in years yesterday, we saw the 5 and 30 year invert, in which the 5-year note yield was higher than the 30-year t bond today, we closely watch the spread between the 2- and 10-year spreads. there you see it basically flat, folks. getting very close to inverting but not

then chevron employees working elsewhere in the country. the refinery supplies about 13% of california's gasoline jet fuel and other oil products. here's a look now at current prices around the bay area for a gallon of regular on average in san jose 5.85. in oakland. this same thing over and napa a little bit more. and san francisco also 5.92 for a gallon of regular gauges. the average is so you do have some places where you'll find higher or lower prices. and if you're lucky, you can find the lowest prices. some people shopping around. they say it's required to do that for their budgets. but that could be a good thing for everybody. the price of oil goes up >> gasoline goes up very fast and matches the steps up. but what we found is when the price of oil goes down, gasoline tends to come down very slowly. it's called the rockets and feathers phenomenon that goes up like a rocket comes down like a feather and the best explanation for that i think is that when the price of oil goes up and gas prices are rising. people shop around more and th