Chevron Pulse Report: July 2008 to December 2009

Table of Contents 1. Overview 3 3. Energy and Technology 31 The Energy Conversation 3 Summary 32 Methodology 4 Topics 33 Executive Summary 8 Volume and Net Sentiment 36 The Online Energy Conversation Volume 10 Volume of Online Conversations 37 Timeline of the Energy Conversation 11 Net Sentiment and Sentiment Volume 38 Volume and Net Sentiment 12 Sentiment Trends 39 Sentiment Trends 13 Energy Efficiency 40 Online Conversation Platforms Volume 14 Technology and Innovation 42 Growth of the Twitter Conversation 15 Alternatives and Renewables 44 Influencers 46 2. Energy Resources 16 4. Energy and Environment 47 Summary 17 Summary 48 Topics 18 Topics 49 Volume and Net Sentiment 20 Volume and Net Sentiment 51 Volume of Online Conversations 21 Volume of Online Conversations 52 Net Sentiment and Sentiment Volume 22 Net Sentiment and Sentiment Volume 53 Sentiment Trends 23 Sentiment Trends 54 Access 24 Environment, Resources and Policy 55 Energy Reserves 26 Climate Change 57 Energy Security 28 Influencers 59 Influencers 30 5. Join the Online Conversation 60 The Chevron Pulse Report(TM) is © 2010 Chevron Corporation. All rights reserved. Chevron hereby grants to any person a royalty-free license to copy the Report in whole or in part. Your license is conditioned upon providing attribution to Chevron (e.g. “Source: Chevron Pulse Report, Q1 2010 Edition”). Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 2

Overview The Energy Conversation Energy is one of the most important issues of our time. It is Chevron has been using the information to stay informed the engine for our economy and the inspiration for innovative about energy topics that are important to people in the online new technologies. It shapes the world we live in today and community. the future that we will share. It is debated in the halls of government, in the comments of blogs and in videos on After looking at this data for the past 18 months, Chevron YouTube. started to realize there was a lot of information that would probably interest other people as well. As a result, together, The online conversation about energy is robust, diverse, Edelman and Chevron compiled this information into The passionate and dynamic, evolving alongside the medium Chevron Pulse Report: The State of Online Conversation itself. In the fall of 2008, there were 100 million people on about Energy Issues. Facebook and only 3 million on Twitter, but there were 5 million posts* about energy. Over the last 18 months, Facebook has This first report is a way to understand and articulate how the eclipsed 450 million users and Twitter has grown to 75 million; online conversation about energy has evolved from July 2008 there were also 25.7 million posts about energy-related issues. to December 2009. Edelman placed a lot of emphasis on charts that translate the conversation into simple visuals, In the summer of 2008, Chevron partnered with Edelman to understanding that it is nearly impossible to represent 25.7 gain a better understanding of the online conversation about million conversations in a handful of words. energy topics. Together, Chevron and Edelman identified more than 50 key energy issues and conversation topics. Chevron and Edelman are excited to share this report and Working with Alterian’s SM2 social media monitoring tool, we hope you find the information interesting and helpful. began analyzing the focus, volume and sentiment of the online conversation about these issues across blogs, discussion forums and social networks, including sites such as Twitter, Facebook, YouTube, Vimeo and Flickr. * The term “posts” is used generically to represent a piece of online content, such as a blog post, tweet, photo, video or discussion comment. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 3

Overview Methodology: Scope Scope Edelman conducted a quantitative and qualitative Within these eight issues, we examined 74 subtopics, analysis of the volume and sentiment of the global, ranging in size from a few hundred posts to more than English-speaking online conversation about energy a million. issues from July 1, 2008, through December 31, 2009, focusing on eight major issues within three broad The analysis was conducted on a quarterly basis. There categories: were six quarters during the18-month period, beginning with 3Q08 (July through September 2008) and ending with  Energy Resources – Access; Energy Reserves; 4Q09 (October through December 2009). Edelman Energy Security examined changes in volume and sentiment for each  Energy and Technology – Energy Efficiency; subtopic for each quarter. Technology and Innovation; Alternatives and Renewables  Energy and Environment – Environment, Resources and Policy; Climate Change These three categories were chosen because they were the broadest terms that applied to the most relevant conversations about energy. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 4

Overview Methodology: Quantitative Analysis Quantitative Analysis of the Conversation Volume The amount of online conversation about energy is vast, Edelman utilized Google’s Advanced Search and there is no objective way of measuring precisely how features to catalogue blogs, social networks (e.g., many posts there are, over time or for a given period. Facebook, MySpace) and social media sites (e.g., Google has indexed billions of Web pages, but even they YouTube, Flickr, Revver, Vimeo), as well as could not tell you how many pages, posts or comments Boardreader for discussion forums. Note: Only public have been missed. Each search engine and social media Facebook pages were indexed, in accordance with the monitoring tool collects posts a little bit differently. site’s Terms of Service. Edelman captured and analyzed enough of the online Searches were run in triplicate to ensure data integrity. conversation in order to make confident and reasonable The volume was also manually cross-referenced with assertions about the volume and sentiment of the results pulled by Alterian’s SM2* social media monitoring discussion. Edelman worked with developers to construct tool to determine whether there were inconsistencies in a series of Julian date searches that pulled information the relative volume of subtopics in relation to each other. on the number of posts about specific topics over a given For example, if there were one million posts in Google period of time. The searches were built on Boolean about a topic, but only 500 posts in SM2, this would taxonomies, which were developed and tested for each signal a likely data query error. In such instances, of the 74 subtopics, in order to reduce or eliminate false queries would be reconstructed and redeployed. positives in the search results. Using this methodology, 25.7 million posts about Energy Resources, Energy and Technology and Energy and Environment were identified from July 2008 through December 2009. *SM2 is a social media monitoring and analysis tool that tracks and measures online conversations across blogs, forums and social media platforms based on volume, sentiment and influence. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 5

Overview Methodology: Qualitative Analysis Qualitative Analysis of the Conversation Sentiment While the Julian date searches on Google and The items were selected based on topical relevance. Boardreader provide reasonable assurance of the volume They were weighted according to the predominance of of conversations about the issues we examined, neither subtopics in relation to one another so that the sample platform offers the ability to evaluate the sentiment of said reflected the volumes identified in the quantitative conversations. Because we were examining such a analysis. For example, if the subtopic Biofuels made sizable conversation, it would be untenable to manually up 20 percent of the quantitative sample for the rate the tone and sentiment of each of these posts. The discussion for the topic Alternatives and Renewables, semantic engine of Alterian’s SM2 social media then 20 percent of the qualitative sample for this topic monitoring tool was used to evaluate the sentiment focused on Biofuels. Additionally, the samples were of the online conversation about each issue. weighted by date to reflect individual conversation trends where possible. Edelman is confident in the tool’s native capabilities, but wanted to provide additional assurance that the tool was More than 5,000 posts were pulled to make up the properly rating issue-oriented conversations. These types sample used in the 2008 survey. A team of 10 of conversations can differ in sentiment and tone from conversation analysts manually reviewed the posts consumer- or product-oriented discussions. and scored them on a 5-point Likert Scale for overall sentiment as well as sentiment on specific issues, In August 2008, Edelman conducted a quantitative survey where: of the online conversation about energy issues. This established the relative volume of conversation about 1 = Very unfavorable energy issues over a seven-month period, from January 1 2 = Unfavorable through July 31, 2008. We drew a randomized qualitative 3 = Neutral sample of posts from the larger quantitative pool in order to gain insight into the tone and trends in the conversation 4 = Favorable about these topics. 5 = Very favorable Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 6

Overview Methodology: Qualitative Analysis, continued For example, a post that was very favorable about For the purposes of the Pulse Report, SM2 scored Alternatives and Renewables but very unfavorable about 7.2 million posts across 74 subtopics over six Wave Power would be scored “5” for Alternatives, “1” for quarters in an 18-month period. Comparing this Wave Power and “4” overall. The overall score was based analysis with other evaluations of the online conversation on the general tone of the article; it was not merely an about specific issues, Edelman is confident that this average of the individual scores. Further, net sentiment examination represents one of the most comprehensive was calculated based on a weighted average of positive analyses of online conversation available. and negative sentiment. The analysts also developed a detailed taxonomy of trigger words that signaled why the post was positive or negative in sentiment. This dictionary of more than 1,000 words was combined with SM2’s existing semantic dictionary in order to provide heightened assurance that the semantic engine was properly scoring conversations. Edelman reviewed a sample of the conversations scored by SM2 and is confident in its semantic scoring. This methodology was applied to the evaluation of six previous quarterly reviews of the online conversation about energy issues. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 7

Overview Executive Summary  There were 25.7 million posts about Energy  There were significant changes in the volume and Resources, Energy and Technology and Energy sentiment of the overall conversation during the and Environment from July 1, 2008, through 18-month period. December 31, 2009.  While Energy Resources experienced a major  Using Alterian’s SM2 social media monitoring tool, swell in conversation in the summer of 2008, Edelman analyzed the sentiment of 7.2 million posts. Energy and Environment became the most The average sentiment of this sample was prominent of the major issues in online neutral: 3.04 on a 5-point Likert scale. discussion during the last quarter of 2009.  The majority of the online conversation evaluated  Similarly, there was significant variation in the tone of over the 18-month period was generated on blogs, online conversation about specific issues (e.g., the followed by discussion forums, videos sites, social Copenhagen climate summit). networks and Twitter.  From July 2008 through December 2009, political  The volume of online conversation grew steadily from discourse and the economy remained at the heart 3 million posts in the last quarter of 2008 to more of the online discussion pertaining to Energy than 5.3 million posts in the last quarter of 2009. Resources, Energy and Technology and Energy The rapid growth of social media platforms and Environment. This conversation was driven by contributed to this increase in discussion. major news events, landmark legislation (e.g., the Waxman-Markey climate bill) and the insights and priorities of a diverse community of online influencers. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 8

Overview Executive Summary, continued  Energy and Technology made up the largest  One of the most notable swells in online segment of the online conversation from July 2008 conversation volume about Energy Resources through September 2009; however, the volume of occurred in the third quarter of 2008, when access to conversation about Energy and Environment was domestic energy resources gained significant attention slightly larger in the last quarter of 2009 as climate among the online community. This discussion was and environmental policy dominated the online propelled by pro-drilling campaigns and the impending energy conversation. 2008 presidential election.  Energy and Technology was the most positive of  Energy and Environment was the most negative of the three major issue areas for the entirety of the 18- the three major issue areas for 15 of the 18 months. The month period. Technology was looked upon by many sole exception was the first quarter of 2009, when online online influencers as the key to obtaining energy conversations about Energy Resources were slightly independence, harnessing the development of energy more negative than Energy and Environment. resources (e.g., nuclear power or algae-based fuels) and boosting the economy with innovative  Following the election of President Barack Obama in late employment opportunities. 2008, a shift in the online energy conversation emerged, as discussions about Alternatives and Renewables, Sustainability and Energy Efficiency began to generate additional interest among people talking about energy online. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 9

Overview The Online Energy Conversation Volume There were 25.7 million online posts about Energy Resources, Energy and Technology, and Energy and Environment from July 2008 through December 2009. Chart 1.1 Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 10

Overview Volume and Net Sentiment of Online Conversations About Energy Online conversation about Climate Change was the greatest in volume and most negative in sentiment. Energy Efficiency was the most positive of all the key topics. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 7,000,000 Climate Change 6,000,000 Alternatives and Renewables 5,000,000 Technology and Innovation Environment, Energy and Policy 4,000,000 Volume of Online Conversations 3,000,000 Energy Efficiency 2,000,000 Energy Reserves 1,000,000 Access Energy Security 0 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Chart 1.3 Low Volume/ Low Volume/ Sentiment of Online Conversations Negative Sentiment Positive Sentiment Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 12

Overview Sentiment Trends of Online Conversations About Energy Sentiment about the eight issue areas was generally mixed over the 18-month period. There was a notable improvement in sentiment during the first quarter of 2009; however, the sentiment fell for most issues in the last quarter of 2009. July 1, 2008 – December 31, 2009 8 Issue Areas 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Environment , Energy 3.08 3.09 3.32 3.19 3.30 3.10 and Policy Climate Change 2.48 2.39 2.68 2.54 2.46 2.33 Alternatives and 3.28 2.95 3.31 3.39 3.42 3.32 Renewables Energy Efficiency 3.61 3.30 3.53 3.58 3.70 3.60 Technology and 3.34 3.30 3.59 3.60 3.33 3.46 Innovation Access 2.46 2.41 2.66 2.64 2.72 2.66 Energy Reserves 2.52 2.58 2.72 2.80 2.75 2.54 Energy Security 3.08 3.35 2.79 2.88 2.79 2.61 Sentiment Trends of Online Conversations Legend: Positive (3.10–5.00) >.10 Change: Positive Neutral (2.90–3.09) Negative Chart 1.4 Negative (1.00–2.89) Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 13

Overview Online Conversation Platforms Volume About Energy Blogs generated the largest share of online energy conversation over the 18-month period, followed by discussion forums. *Boardreader; **Facebook, MySpace, Friendster, Digg; ***YouTube, Revver, Vimeo, Qik, Flickr Chart 1.5 Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 14

Overview Growth of the Twitter Conversation About Energy The conversation about energy on Twitter spiked in 2009, mirroring the growth of the platform. *Source: http://themetricsystem.files.wordpress.com/2010/01/cumulativeusers.jpg **Update 05/06/2010: Data mislabeled, chart has been corrected Chart 1.6** Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 15

Energy Resources Summary of the Online Conversation  There were 2.6 million online  The online conversation about Energy conversations about Energy Resources was slightly negative Resources from July 2008 through overall, with a Likert rating of 2.73 out December 2009. of 5.00 during the 18-month period.  Discussions of Energy Reserves, including Energy Supply, made up  There were also approximately 582,000 about 60 percent of the Energy conversations about Access and Resources conversation. 468,000 regarding Energy Security.  Of the three key topics about Energy KEY ENERGY RESOURCES TOPICS EXAMINED: Resources that we examined–Access, • Access Energy Reserves and Energy Security– • Energy Reserves the discussion of Energy Security • Energy Security was neutral (2.97), whereas Access and Energy Reserves were both negative in sentiment. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 17

Energy Resources Topics Explored in the Online Conversation Access Energy Reserves  Outer Continental Shelf (OCS): Oil or drilling in the  Energy Reserves: Reserves of energy resources, OCS, offshore areas that lie between the jurisdiction including natural gas and oil. A reserve is the amount of individual U.S. states and the federal government, of commercially recoverable energy still remaining at generally three miles to 200 miles off the coast. a location.  Arctic National Wildlife Refuge (ANWR): Oil or  Peak Oil: Defined as the point in time when the drilling in the ANWR, a 19-million-acre area that lies maximum rate of extraction of the world’s petroleum in the northeast corner of Alaska, a portion of which supply is met and subsequently followed by the could be designated for oil and natural gas terminal decline of production. exploration.  Strategic Petroleum Reserve (SPR): America’s  U.S. Domestic Access: Access to or exploration of storage of oil maintained by the U.S. Department of U.S. energy resources. Energy for future emergency situations involving U.S.  Oil Shale: An organic-rich sedimentary rock that can energy supply. be used to produce liquid hydrocarbons or converted  Capacity: The level of production for individual into various forms of oil. refineries as well as total production for all refineries.  Oil Sands: Unconventional oil that comprises a  Refineries: Oil refineries or the oil refining process. natural mixture of sand, water and a form of  Energy Supply: The supply of energy resources, petroleum called bitumen. such as oil or natural gas.  Natural Gas: Natural gas supply in the United States. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 18

Energy Resources Topics Explored in the Online Conversation, continued Energy Security  Energy Security: The issue of U.S. national security involving energy, such as rising costs or limited supplies.  Energy Independence: Energy independence or energy dependence refers to whether a country can rely on its own resources for energy production, or turns to other countries for energy supplies.  “Foreign” Oil: Supplies of oil from non-U.S. sources. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 19

Energy Resources Volume and Net Sentiment of Online Conversations The online conversation about Energy Resources was negative in sentiment overall. Energy Reserves was the largest driver of online discussion. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 1,800,000 1,600,000 Energy Reserves 1,400,000 1,200,000 1,000,000 Volume of Online Conversations 800,000 600,000 Access Energy Security 400,000 200,000 0 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Chart 2.1 Low Volume/ Sentiment of Online Conversations Low Volume/ Negative Sentiment Positive Sentiment Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 20

Energy Resources Volume of Online Conversations Capacity was the largest share of conversation, followed by Energy Reserves and the Outer Continental Shelf (OCS). 10 of 15 Energy Resources Subtopics 4Q09 Volume of Conversation July 1, 2008 – December 31, 2009 (Percentage of 5,869,000Total) OCS* 11.71% U.S. Domestic Access 1.38% Oil Shale 0.78% Oil Sands 3.25% Energy Reserves 12.86% Peak Oil 9.67% Capacity 25.98% Energy Security 7.57% Energy Independence 5.56% "Foreign" Oil 4.59% 0% 5% 10% 15% 20% 25% 30% * Percentage of Online Conversations About Energy Resources – 2.6 Million Total *Outer Continental Shelf Chart 2.2 Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 21

Energy Resources Net Sentiment and Sentiment Volume of Online Conversations Energy Security was the most favorable conversation, with a net sentiment of 3.19. 10 of 15 Energy Resources Subtopics July 1, 2008 – December 31, 2009 Category OCS** U.S. Oil Shale Oil Sands Energy Peak Oil Capacity Energy Energy “Foreign” Domestic Reserves Security Independence Oil Net Access Sentiment 2.75 2.78 2.47 2.51 2.49 2.38 3.04 3.19 3.15 2.28 15,000 11,304 Sentiment Volume* 10,000 7,277 Negative Positive 3,855 1,875 3,961 1,924 3,702 5,000 686 290 1,872 0 – 486 -5,000 – 948 – 3,413 – 2,869 – 5,216 – 4,557 – 4,839 – 5,246 -10,000 – 8,461 – 9,830 -15,000 Neutral Volume 75,758 12,328 7,756 21,820 112,039 32,652 207,300 94,565 35,444 28,867 *Number of positive, negative and neutral posts rated by the SM2 social media monitoring tool Chart 2.3 **Outer Continental Shelf Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 22

Energy Resources Sentiment Trends of Online Conversations Energy Security and Energy Independence were the only two subtopics where the online conversation was neutral to positive throughout the 18-month period. July 1, 2008 – December 31, 2009 10 of 15 Energy 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Resources Subtopics Outer Continental Shelf 2.48 2.69 2.70 2.76 3.05 2.96 U.S. Domestic Access 2.54 2.61 2.82 3.00 2.93 2.78 Oil Shale 2.24 1.64 2.26 2.35 2.46 3.34 Oil Sands 2.75 2.21 2.66 2.53 2.36 2.52 Energy Reserves 2.55 2.43 2.69 2.68 2.49 2.44 Peak Oil 2.44 2.72 2.48 2.33 2.39 2.27 Capacity 2.63 2.88 3.32 3.20 3.21 3.01 Energy Security 3.15 3.63 3.16 3.16 3.15 3.07 Energy Independence 2.97 3.08 3.23 3.31 3.18 2.91 “Foreign “Oil 2.36 2.36 2.23 2.40 2.20 2.19 Sentiment Trends of Online Conversations Legend: Positive (3.10–5.00) >.10 Change: Positive Chart 2.4 Neutral (2.90–3.09) Negative Negative (1.00–2.89) Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 23

Energy Resources Access: Volume and Net Sentiment of Online Conversations All subtopics about Access were negative in sentiment. Conversation about Outer Continental Shelf (OCS) generated a markedly higher level of online conversation volume than the other subtopics. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 350,000 OCS** 300,000 250,000 200,000 Volume of Online Conversations 150,000 100,000 Oil Sands ANWR* Natural Gas 50,000 U.S. Domestic Access Oil Shale 0 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Low Volume/ Low Volume/ Sentiment of Online Conversations Chart 2.5 Negative Sentiment Positive Sentiment *Arctic National Wildlife Refuge **Outer Continental Shelf Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 24

Energy Resources Access: Volume Trend of Online Conversations Outer Continental Shelf (OCS) saw the greatest change in online conversation volume over the 18-month period. Access* 100,000 90,000 80,000 Online Conversation Volume 70,000 60,000 OCS*** ANWR** 50,000 U.S. Domestic Access 40,000 Oil Sands Natural Gas 30,000 20,000 10,000 0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Chart 2.6 *Five of six subtopics about Access **Arctic National Wildlife Refuge ***Outer Continental Shelf Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 25

Energy Resources Energy Reserves: Volume and Net Sentiment of Online Conversations Capacity was the only positive, high-volume subtopic of conversation about Energy Reserves. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 800,000 700,000 Capacity 600,000 500,000 Volume of Online 400,000 Conversations Energy Reserves 300,000 Peak Oil 200,000 Refineries Energy Supply 100,000 SPR* 0 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Low Volume/ Low Volume/ Sentiment of Online Conversations Chart 2.7 Negative Sentiment Positive Sentiment *Strategic Petroleum Reserve Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 26

Energy Resources Energy Reserves: Volume Trend of Online Conversations The volume of conversation about Capacity decreased significantly from the start of 2009; however, the volume of conversation about other Energy Reserves subtopics decreased and then rose again. Energy Reserves* 160,000 150,000 140,000 130,000 120,000 Online Conversation Volume 110,000 100,000 Energy Reserves 90,000 Peak Oil 80,000 Capacity 70,000 Refineries 60,000 Energy Supply 50,000 40,000 30,000 20,000 10,000 0 Chart 2.8 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 *Five of six subtopics about Energy Reserves Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 27

Energy Resources Energy Security: Volume and Net Sentiment of Online Conversations Conversation about “Foreign” Oil was low in volume and negative in sentiment. Energy Security and Energy Independence were both at high levels of volume, with positive sentiment. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 250,000 200,000 Energy Security 150,000 Energy Independence Volume of Online Conversations “Foreign” Oil 100,000 50,000 0 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Low Volume/ Low Volume/ Sentiment of Online Conversations Chart 2.9 Negative Sentiment Positive Sentiment Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 28

Energy Resources Energy Security: Volume Trend of Online Conversations Energy Security conversations experienced a considerable drop in volume during the last two quarters of 2008. Energy Security 150,000 140,000 130,000 120,000 Online Conversation Volume 110,000 100,000 90,000 80,000 Energy Security 70,000 Energy Independence 60,000 "Foreign" Oil 50,000 40,000 30,000 20,000 10,000 0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Chart 2.10 Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 29

Energy Resources Sample of Influencers Active in the Online Conversation Blog Link Description BNet.com's Energy blog provides analysis on a wide range of issues involving the energy sector including energy policy, green business, BNET/Energy http://industry.bnet.com/energy energy research and technologies. The Energy Bulletin provides information about peak oil, energy Energy Bulletin http://www.energybulletin.net/ production and implications of peak oil. Energy and Capital features insights on energy investment strategies and insights, as well as perspectives on the latest energy issues and energy Energy & Capital http://www.energyandcapital.com/ economy. The Energy Outlook shares insights, information and discussion Energy Outlook http://energyoutlook.blogspot.com surrounding a spectrum of issues related to the energy industry. The Houston Chronicle's NewsWatch: Energy Blog is a source for news, analysis and conversation about developments and issues pertaining to NewsWatch: Energy http://blogs.chron.com/newswatchenergy/ the energy industry. Peak Oil News distributes analysis and information exploring the Peak Oil News http://peakoil.com prospective depletion of the world's oil supply The R-Squared Energy blog aims to foster objective discussions about R-Squared Energy Blog http://i-r-squared.blogspot.com energy and sustainability and alternative solutions. The Energy Blog covers a range of energy issues from fossil fuels to renewable energy. The site is focused on an "Energy Revolution," characterized as the growing need to supplement fossil fuels with The Energy Blog http://thefraserdomain.typepad.com/energy/ alternative energy resources. The Energy Collective is a collaborative blog where a number of contributing energy experts weigh-in on relevant energy news, resources, The Energy Collective http://www.theenergycollective.com/ technologies, policy and more. The Oil Drum is an online destination for conversation about peak oil and The Oil Drum http://www.theoildrum.com/ relevant topics pertaining to the current and future energy supply. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 30

Energy and Technology Summary of the Online Conversation  There were 12.8 million posts about  However, changes in the sentiment Energy and Technology that surfaced occurred over the course of the 18- online from July 2008 through month period, with the most positive December 2009. Edelman examined 4 sentiment occurring during spring million of these posts to gain insights 2009. about the conversation’s sentiment and volume, as well as the key topics driving  The conversation volume also changed this discussion online. over time, with the highest level of conversation happening in late  Overall, the tone of the online summer 2008 and again at the end conversation about Energy and of 2009. Technology was quite positive, with a sentiment of 3.45 on a 5-point Likert KEY ENERGY AND TECHNOLOGY TOPICS EXAMINED: scale. • Energy Efficiency • Technology and Innovation • Alternatives and Renewables Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 32

Energy and Technology Topics Explored in the Online Conversation Energy Efficiency Technology and Innovation  Energy Efficiency: Reducing the amount of energy  Deepwater: Exploring and producing oil and gas off needed to perform a process, from heating a home to the coastline in water depths of1,000 ft or more. powering a factory.  Energy Technologies: Technological processes or  Fuel Efficiency: Efficiency of a particular vehicle innovations associated with producing energy. measured by its total output (e.g., mileage) in  Fuel Cell: An electrochemical cell that combines a comparison to amount of input (e.g., fuel). Also fuel source (e.g., hydrogen) with an oxidant (e.g., related to fuel economy indicated by miles per gallon water) to produce an electrical current, commonly (mpg) or kilometers per liter (km/L). used to power vehicles.  Energy Conservation: Reduction of energy  Directional Drilling: Drilling nonvertical wells that consumption. can extract oil and natural gas from a single point  Energy Efficiency Policy: Local, state and national across a vast territory. policies designed to reduce the amount of energy  Gas-to-Liquids (GTL): Converting gaseous used through incentives, tax credits and other policy compounds into hydrocarbon-based liquids such as mechanisms. gasoline.  Fuel Efficiency Policy: Regulations and legislation  Intercropping: Energy industry’s adoption of the at the local, state and national levels, such as agricultural practice of growing one crop between emissions performance standards, that are used to the rows of another crop of a separate source; set new thresholds in emission control technology. commonly used to harvest biomass.  Steamflooding: Enhanced oil recovery process of injecting steam into heavy-oil reservoirs to heat the crude oil underground, reducing its viscosity and allowing its extraction through wells. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 33

Energy and Technology Topics Explored in the Online Conversation, continued Technology and Innovation, continued  Energy Innovation: Advancements made in the  Cleantech: Energy products and services that development of energy sources. increase efficiency while reducing costs, energy consumption and environmental impact.  Gasification: Producing gas from coal in order to convert it into transportation fuels like gasoline or  Hydraulic fracturing: Recovery of natural gas and diesel. oil from rock formations deep below the earth’s surface through the injection of fluid pressure into  Solar-to-Steam: Generation of steam from captured targeted fractures in the rock. This creates a path sunlight to carry out heavy oil extraction. between the reservoir to the well, increasing the  Liquefied Natural Gas (LNG): Liquid form of natural amount of oil and natural gas that can be recovered. gas for easier storage and/or transportation of natural  Seismic Imaging/Visualization: 3-D imaging of gas to markets. subsurface geology that helps petroleum engineers  Exploration and Development: Exploratory identify possible oil– and gas–bearing formations. ventures and developments of energy resources. The images show a reservoir at different stages of  Carbon Capture and Storage (CCS): Family of depletion, allowing engineers to improve recovery technologies that provide capture and storage of and produce resources more efficiently. carbon dioxide emissions in deep geological  Enhanced Oil Recovery: Technologies such as formations. thermal recovery or gas injection that can be used to  Carbon Capture: Capturing and compressing of increase the amount of oil that can be extracted from carbon dioxide in the CCS process. an oil field.  Carbon Sequestration: Geo-engineering technique used for the long-term storage of carbon dioxide. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 34

Energy and Technology Topics Explored in the Online Conversation, continued Alternatives and Renewables  Biofuels: Fuels produced from renewable biological  Ocean: Energy generation through the movement of resources, including vegetable oil– and animal fat– ocean surface waves. based diesel fuels.  Algae: Use of the photosynthetic organism algae to  Ethanol: Flammable, colorless liquid that can be create a biofuel by converting carbon dioxide and used as a fuel or fuel additive. sunlight into oxygen and biomass.  Alternatives and Renewables: Nontraditional  Cellulosic Ethanol: Biofuel produced from wood, sources of energy and those that can be produced grasses or nonedible plant parts. from naturally replenishing resources, such as solar,  Corn-Based Ethanol: Form of ethanol produced wind or wave power. from corn through industrial fermentation and  Geothermal: A source of energy that is generated by distillation. extracting heat from the earth.  Nonfood Biofuels: Ethanol produced from nonfood  Solar: Generation of electricity from sunlight. crops for waste biomass, such as the stalks of wheat and wood.  Wind: Power of wind converted into a usable form of energy that can be harnessed to produce electricity.  Biohydrocarbons: Fuel source produced by mixing biomass feedstock of plants with hydrogen and  Hydrogen: Generating power from hydrogen and fuel another chemical catalyst. cells, which are electrochemical cells that generate electricity through the reactions between hydrogen  Clean Energy: Energy sources that do not pollute and water. when used.  Nuclear: Energy produced from controlled nuclear reactions. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 35

Energy and Technology Volume and Net Sentiment of Online Conversations The Alternatives and Renewables conversation had the highest volume of conversation among the key Energy and Technology topics. Energy Efficiency was the most positive in sentiment. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 6,000,000 Alternatives and Renewables 5,000,000 Technology and Innovation 4,000,000 Volume of Online Conversations 3,000,000 Energy Efficiency 2,000,000 1,000,000 0 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Chart 3.1 Low Volume/ Sentiment of Online Conversations Low Volume/ Negative Sentiment Positive Sentiment Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 36

Energy and Technology Volume of Online Conversations Energy Technologies was the largest conversation, followed by Solar and Liquefied Natural Gas (LNG). 10 of 39 Energy and Technology Subtopics July 1, 2008 – December 31, 2009 Biofuels 2.74% Solar 7.81% Wind 6.28% Nuclear 5.80% Energy Efficiency 4.42% Energy Conservation 5.91% Deepwater 0.27% Energy Technologies 13.11% Liquefied Natural Gas 7.30% Carbon Capture 0.45% 0% 2% 4% 6% 8% 10% 12% 14% Percentage of Online Conversations About Energy and Technology – 12.8 Million Total Chart 3.2 Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 37

Energy and Technology Net Sentiment and Sentiment Volume of Online Conversations Energy Efficiency was the most favorable conversation, followed by Solar and Wind. Nuclear was the most negative. 10 of 39 Energy and Technology Subtopics July 1, 2008 – December 31, 2009 Category Biofuels Solar Wind Nuclear Energy Conservation Deepwater Energy Liquefied Carbon Efficiency Technologies Natural Gas Capture Net Sentiment 3.39 3.68 3.45 2.59 3.96 2.68 3.79 3.18 3.20 3.38 50,000 40,681 35,016 40,000 32,832 Sentiment Volume* Negative Positive 30,000 20,903 21,754 20,000 10,971 4,904 10,053 847 10,000 355 0 -10,000 – 104 – 511 – 6,097 – 7,831 – 7,795 -20,000 – 13,607 – 7,408 – 15,505 -30,000 – 17,529 -40,000 -50,000 – 37,806 Neutral 159,819 314,486 334,650 269,874 269,166 81,722 6,512 336,253 89,458 10,113 Volume *Number of positive, negative and neutral posts rated by the SM2 social media monitoring tool Chart 3.3 Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 38

Energy and Technology Sentiment Trends of Online Conversations The online conversation about Energy Technologies was mostly positive, with the exception of Nuclear and Energy Conservation being negative. July 1, 2008 – December 31, 2009 10 of 39 Energy and 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Technology Subtopics Biofuels 3.19 3.33 3.54 3.43 3.48 3.35 Solar 3.72 3.76 3.66 3.83 3.87 3.53 Wind 3.34 3.66 3.42 3.78 3.47 3.04 Nuclear 2.42 2.47 2.30 2.82 2.85 2.45 Energy Efficiency 4.08 3.52 4.03 4.01 4.05 4.05 Energy Conservation 2.60 2.49 2.83 2.62 2.72 2.72 Deepwater 3.88 3.60 4.05 3.79 3.92 3.58 Energy Technologies 3.29 2.96 3.33 3.38 3.28 3.08 Liquefied Natural Gas 2.69 3.13 3.08 3.12 2.91 3.38 Carbon Capture 2.91 3.23 2.92 3.34 3.16 3.54 Sentiment Trends of Online Conversations Legend: Positive (3.10–5.00) >.10 Change: Positive Chart 3.4 Neutral (2.90–3.09) Negative Negative (1.00–2.89) Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 39

Energy and Technology Energy Efficiency: Volume and Net Sentiment of Online Conversations Online conversations around Fuel Efficiency and Energy Efficiency were high in volume and positive in sentiment. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 900,000 800,000 Fuel Efficiency Energy Conservation 700,000 600,000 Energy Efficiency 500,000 Volume of Online Conversations 400,000 Fuel Efficiency Policy 300,000 200,000 Energy Efficiency Policy 100,000 0 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Chart 3.5 Low Volume/ Low Volume/ Sentiment of Online Conversations Negative Sentiment Positive Sentiment Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 40

Energy and Technology Energy Efficiency: Volume Trend of Online Conversations Conversations about Energy Efficiency peaked in the fourth quarter of 2009, tripling in volume compared with the third quarter of 2009. Energy Efficiency 200,000 180,000 160,000 Online Conversation Volume 140,000 120,000 Energy Efficiency Fuel Efficiency 100,000 Energy Conservation 80,000 Energy Efficiency Policy Fuel Efficiency Policy 60,000 40,000 20,000 0 Chart 3.6 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 41

Energy and Technology Technology and Innovation: Volume and Net Sentiment of Online Conversations The majority of Technology and Innovation subtopics had a low volume of conversation with a positive sentiment. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 1,800,000 Energy Technologies 1,600,000 1,400,000 Volume of Online 1,200,000 Conversations 1,000,000 Exploration and Development A. Directional Drilling Liquefied Natural Gas B. Carbon and Sequestration 800,000 C. Solar-to-Steam D. Carbon Capture E. Intercropping 600,000 F. Hydraulic Fracturing Innovation G. Gasification H. Fuel Cell 400,000 I. Gas-to-Liquids J. Deepwater 200,000 H M K. Seismic Visual/Imaging B L. Steamflooding Hydraulic Fracturing D F GI J K N M. Cleantech A C E L N. Oil Recovery 0 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Chart 3.7 Low Volume/ Low Volume/ Sentiment of Online Conversations Negative Sentiment Positive Sentiment Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 42

Energy and Technology Technology and Innovation: Volume Trend of Online Conversations Technology and Innovation subtopics had a similar online conversation volume trend throughout the 18-month period, decreasing in volume at the end of 2008 and then increasing in 2009. Technology and Innovation* 380,000 360,000 340,000 320,000 300,000 Online Conversation Volume 280,000 260,000 240,000 220,000 Energy Technologies 200,000 Innovation 180,000 Fuel Cell 160,000 Liquefied Natural Gas 140,000 120,000 Exploration and Development 100,000 80,000 60,000 40,000 20,000 0 Chart 3.8 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 *Five of 19 subtopics about Technology and Innovation Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 43

Energy and Technology Alternatives and Renewables: Volume and Net Sentiment of Online Conversations The majority of subtopics had a low volume of conversation with a positive sentiment. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 1,200,000 1,000,000 Alternatives and Renewables Solar 800,000 Wind Nuclear Volume of Online Conversations 600,000 Ethanol 400,000 Biofuels Clean Energy Hydrogen Geothermal 200,000 Ocean Algae Cellulosic Ethanol Corn-Based Ethanol Nonfood Biofuels 0 Biohydrocarbons 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Chart 3.9 Low Volume/ Low Volume/ Sentiment of Online Conversations Negative Sentiment Positive Sentiment Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 44

Energy and Technology Alternatives and Renewables: Volume Trend of Online Conversations Ethanol dropped in online conversation volume from the third quarter of 2008 to the first quarter of 2009 and remained fairly flat for the remainder of the year. Alternatives and Renewables* 220,000 200,000 180,000 Online Conversation Volume 160,000 140,000 Ethanol 120,000 Alternatives and Renewables 100,000 Solar Wind 80,000 Nuclear 60,000 40,000 20,000 0 Chart 3.10 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 *Five of 15 subtopics about Alternatives and Renewables Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 45

Energy and Technology Sample of Influencers Active in the Online Conversation Blog Link Description AutoblogGreen is a blog devoted to the discussion of green automotive AutoblogGreen http://www.autobloggreen.com technology. Cleantech Blog writes about news and technology relating to energy, the Cleantech Blog http://www.cleantechblog.com/ environment and climate change. CleanTechnica is an online destination for conversation about clean CleanTechnica http://cleantechnica.com/ energy technology. Earth2Tech is a blog focused on clean technology, automotive, and Earth2Tech http://www.earth2tech.com environmental-friendly technology policy. EcoGeek covers issues lying at the cross-section between energy and EcoGeek http://www.ecogeek.com technology. Gas 2.0 is dedicated to the sharing of ideas, solutions and information for Gas 2.0 http://gas2.org/ moving beyond petroleum-based fuels. GreenTech Media is a site targeting green businesses and entrepreneurs with "daily news and market analysis about the end-to-end cleantech GreenTech Media http://www.greentechmedia.com/ market" including solar, smart grid and other emerging energy sectors. RenewableEnergyWorld supplies insights and information about the renewable energy industry, with specific interest in products, businesses Renewable Energy World http://www.renewableenergyworld.com and services. Sustainablog aims at connecting people, companies, technology, and Sustainablog www.sustainablog.org ideas around the movement toward a more sustainable future. The Daily Green offers online visitors daily access to eco-friendly news and trends, advocating the importance of living green and finding energy- The Daily Green http://www.thedailygreen.com/ efficient solutions. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 46

Energy and Environment Summary of the Online Conversation  There were more than 10 million posts  Among the Environment, Resources and about Energy and Environment from Policy subtopics, Sustainability was the July 2008 through December 2009. most positive in sentiment (3.84). Climate Change made up two-thirds of the conversation about Energy and  Ten of the 13 subtopics related to Environment during the 18-month period, Climate Change were negative in with 6.4 million posts. sentiment, with online conversation about the U.S. Environmental Protection  The volume of online discussion was Agency (EPA) and Carbon being the highest during the final quarter of 2009, most negative, followed closely by when the discussion of Environmental discussions of the Intergovernmental Policy, Global Warming and Copenhagen Panel on Climate Change (IPCC). peaked. KEY ENERGY AND ENVIRONMENT TOPICS EXAMINED:  While the online conversation about • Environment, Resources and Policy Environment, Resources and Policy • Climate Change was positive (3.15), the discussion of Climate Change was quite negative (2.39). Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 48

Energy and Environment Topics Explored in the Online Conversation Environment, Resources and Policy Climate Change  Sustainability: Sustaining the supply of various  Greenhouse Gas (GHG): Encompasses any of the energy resources with minimal effects on the gases whose absorption of solar radiation is environment. responsible for the atmospheric heating phenomenon known as the greenhouse effect.  Environment and Oil: The environment and oil in either a refined or unrefined state.  Carbon Tax: An environmental tax on carbon dioxide  Environment and Gas: The environment and natural emissions that could be implemented by taxing the burning of fossil fuels (e.g., coal, oil) to raise gas. revenues and increase the competitiveness of  Environment and Alternatives: The environment noncarbon technologies. and alternative energy sources, including solar, wind  Cap-and-Trade: An administrative approach to and geothermal. controlling emissions by providing economic  Environment and Clean Energy: The environment incentives for achieving reductions in the emissions and nonpolluting resources such as nuclear power. of pollutants.  Environmental Policy: Environmental policy,  Intergovernmental Panel on Climate Change legislation and regulations at the local, state, national (IPCC): An intergovernmental body tasked with and international levels. evaluating the risk of climate change. The panel was  Environmental Protection Agency (EPA) and established in 1988 by two organizations under Energy: Energy issues related to the EPA, the the United Nations. federal agency that sets and enforces rules and  Kyoto: The Kyoto Protocol, aimed at combating standards to protect the environment. climate change; initially adopted on December 11, 2007, in Kyoto, Japan. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 49

Energy and Environment Topics Explored in the Online Conversation, continued Climate Change, continued  Emission Control: Standards and regulations  AB32: California’s climate law, formally known as the controlling the amount of pollutants released into the Global Warming Solutions Act of 2006, that environment by motor vehicles, industry facilities and established a timetable to bring California into near smaller power equipment such as tractors. compliance with the provisions of the Kyoto Protocol. Enforced by the California Air Resources Board  Low Carbon Fuel: Lower carbon-emitting fuels, (CARB), the law requires a plan to reduce the including some alternative fuels or natural gas. state's greenhouse gas emissions to 1990 levels by  Climate and Energy: Energy sources, in relation to 2020. climate change.  EPA and Carbon: In 2007, the U.S. Supreme Court  Global Warming and Global Cooling: Changes in held that the EPA has the right to regulate the the earth's average atmospheric temperature and emission of greenhouse gases under the Clean Air corresponding changes in climate. Act “unless it is able to provide a scientific reason for not doing so.” The EPA exercised its authority on  Climate Policy: Legislation designed to regulate the December 7, 2009, when it publicly finalized an emissions of greenhouse gas emissions. “Endangerment Finding” on greenhouse gases.  Copenhagen: Commonly referred to as the Copenhagen summit, the 2009 United Nations Climate Change Conference was held in Copenhagen, Denmark December 7–18. Global leaders met to negotiate a framework for climate change mitigation around the world. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 50

Energy and Environment Volume and Net Sentiment of Online Conversations Climate Change had a higher level of online conversation volume than Environment, Resources and Policy, but the sentiment of the conversation was negative. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 7,000,000 Climate Change 6,000,000 5,000,000 Environment, Resources and Policy 4,000,000 Volume of Online Conversations 3,000,000 2,000,000 1,000,000 0 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Chart 4.1 Low Volume/ Low Volume/ Sentiment of Online Conversations Negative Sentiment Positive Sentiment Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 51

Energy and Environment Volume of Online Conversations Global Warming and Cooling had the highest percentage of the conversation volume among Energy and Environment subtopics, followed by Environmental Policy. 10 of 20 Energy and Environment Subtopics July 1, 2008 – December 31, 2009 Sustainability 5.11% Environment and Oil 7.04% Environment and Alternatives 7.94% Environmental Policy 12.23% Carbon Tax 1.16% Cap-and-Trade 4.32% IPCC* 1.70% Copenhagen 3.37% Global Warming and Cooling 25.81% Climate Policy 10.30% 0% 5% 10% 15% 20% 25% 30% Percentage of Online Conversations About Energy and Environment – 10.3 Million Total *Intergovernmental Panel on Climate Change Chart 4.2 Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 52

Energy and Environment Net Sentiment and Sentiment Volume of Online Conversations Among Energy and Environment subtopics, Sustainability was the most favorable conversation, with a net sentiment of 3.84. Intergovernmental Panel on Climate Change (IPCC) was the most negative, with a net sentiment of 2.17. 10 of 20 Energy and Environment Subtopics July 1, 2008 – December 31, 2009 Category Sustainability Environment Environment Environmental Carbon Cap-and-Trade IPCC** Copenhagen Global Warming Climate and Oil and Policy Tax and Cooling Policy Alternatives Net Sentiment 3.84 2.72 3.77 2.91 2.51 2.48 2.17 2.34 2.32 2.49 60,000 43,264 40,000 10,778 18,008 Sentiment Volume* 9,044 7,791 4,258 1,244 8,547 Negative Positive 20,000 1,172 5,815 0 -20,000 – 1,974 – 4,803 – 2,766 – 5,184 – 2,343 – 13,182 – 16,667 – 12,714 -40,000 -60,000 – 47,924 -80,000 -100,000 -120,000 – 108,295 Neutral 99,785 159,728 73,169 82,321 17,611 95,715 75,824 387,747 513,398 116,083 Volume *Number of positive, negative and neutral posts rated by the SM2 social media monitoring tool Chart 4.3 **Intergovernmental Panel on Climate Change Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 53

Energy and Environment Sentiment Trends of Online Conversations Conversation about Sustainability and Environment and Alternatives was positive throughout the 18-month period. July 1, 2008 – December 31, 2009 10 of 20 Energy and 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Environment Subtopics Sustainability 3.80 3.68 3.87 3.87 3.81 3.85 Environment and Oil 2.86 2.74 2.93 2.63 2.80 2.67 Environment and 3.52 3.69 3.58 3.76 3.89 3.80 Alternatives Environmental Policy 2.97 3.22 3.13 2.95 2.97 2.85 Carbon Tax 2.30 2.68 2.46 2.79 2.83 1.76 Cap-and-Trade 3.23 2.94 2.53 2.50 2.47 2.22 Intergovernmental Panel 2.00 1.96 2.13 1.86 1.82 2.26 on Climate Change Copenhagen 2.98 3.19 3.81 3.28 2.85 2.29 Global Warming and 2.36 2.28 2.52 2.39 2.33 2.27 Cooling Climate Policy 2.48 2.79 2.72 2.61 2.61 2.41 Sentiment Trends of Online Conversations Legend: Positive (3.10–5.00) >.10 Change: Positive Chart 4.4 Neutral (2.90–3.09) Negative Negative (1.00–2.89) Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 54

Energy and Environment Environment, Resources and Policy: Volume and Net Sentiment of Online Conversations Environment and Alternatives was the only positive, high-volume subtopic of conversation in the Environment, Resources and Energy category. High Volume/ High Volume/ Negative Sentiment July 1, 2008 – December 31, 2009 Positive Sentiment 1,400,000 Environmental Policy 1,200,000 1,000,000 800,000 Environment and Alternatives Volume of Online Environment and Oil Conversations 600,000 Sustainability 400,000 EPA* and Energy 200,000 Environment and Clean Energy Environment and Gas 0 *Environmental Protection Agency 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Chart 4.5 Low Volume/ Low Volume/ Sentiment of Online Conversations Negative Sentiment Positive Sentiment Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 55

Energy and Environment Environment, Resources and Policy: Volume Trend of Online Conversations Environmental Policy had a sharp increase in conversation volume from the third to fourth quarter of 2009. Environment, Resources and Policy* 360,000 340,000 320,000 300,000 280,000 Online Conversation Volume 260,000 240,000 220,000 Sustainability 200,000 Environment and Oil 180,000 160,000 Environment and Alternatives 140,000 Environmental Policy 120,000 EPA** and Energy 100,000 80,000 60,000 40,000 20,000 0 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Chart 4.6 *Five of seven subtopics about Environment, Resources and Policy **Environmental Protection Agency Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 56

Energy and Environment Climate Change: Volume and Net Sentiment of Online Conversations Global Warming and Cooling had a higher level of online conversation volume than all other Climate Change subtopics. High Volume/ July 1, 2008 – December 31, 2009 High Volume/ Negative Sentiment Positive Sentiment 3,000,000 Global Warming and Cooling 2,500,000 2,000,000 Volume of Online 1,500,000 Conversations Climate Policy Climate and Energy 1,000,000 500,000 Cap-and-Trade Greenhouse Gases Copenhagen Carbon Tax Kyoto IPCC* A. Low-Carbon Fuel B. AB32 0 EPA** and Carbon A B C C. Emission Control 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Low Volume/ Low Volume/ Sentiment of Online Conversations Negative Sentiment Positive Sentiment Chart 4.7 *Intergovernmental Panel on Climate Change **Environmental Protection Agency Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 57

Energy and Environment Climate Change: Volume Trend of Online Conversations There was a fluctuation in conversation volume for Global Warming and Cooling over the 18-month period. The volume of conversation about Climate Policy and Climate and Energy increased from 4Q08 through 4Q09. Climate Change* 600,000 570,000 540,000 510,000 480,000 450,000 Online Conversation Volume 420,000 390,000 360,000 Greenhouse Gases 330,000 Cap-and-Trade 300,000 270,000 Climate and Energy 240,000 Global Warming and Cooling 210,000 Climate Policy 180,000 150,000 120,000 90,000 60,000 30,000 0 Chart 4.8 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 *Five of 13 subtopics about Climate Change Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 58

Energy and Environment Sample of Influencers Active in the Online Conversation Blog Link Description Climate Progress is an online destination for the progressive discussion of Climate Progress http://climateprogress.org/ climate science, solutions and politics. Environmental Leader is a top online destination for conversation about Environmental Leader http://www.environmentalleader.com consumerism and the environment. Green Car Congress is a leading online resource for the discussion of Green Car Congress http://www.greencarcongress.com sustainable mobility. Green Inc. is NYTimes.com's sustainability blog dedicated to conversation about the environment and the impact of environmental policy on Green Inc. (NYTimes) http://greeninc.blogs.nytimes.com/ business. Grist is a leading online resource for conversation about environmental Grist www.grist.org/ policy. Mother Nature Network (MNN) is an environmental Web site devoted to providing news and information covering a broad scope of environmental Mother Nature Network http://mnn.com and social responsibility issues. Sustainablog is an online resource with conversations that help guide Sustainablog http://sustainablog.org/ consumers to make environment-friendly choices. Treehugger is a sustainability blog that is a central online resource for a TreeHugger http://www.treehugger.com gamut of green news, solutions and information. Triple Pundit centers on issues at the intersection of business and Triple Pundit http://www.triplepundit.com sustainability. Worldchanging provides its visitors with ideas, models and new tools for Worldchanging http://www.worldchanging.com building a green future. Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 59

Join the Online Conversation About Energy Quarterly updates of the Chevron Pulse Report will be published at: http://www.chevronpulsereport.com To join the online conversation about energy, visit: http://www.willyoujoinus.com To find out more about Chevron online or to engage with us, visit:  Twitter: http://www.twitter.com/chevron or @chevron  Facebook: http://www.facebook.com/chevron  YouTube: http://www.youtube.com/user/chevron  LinkedIn: http://www.linkedin.com/companies/chevron  Website: http://www.chevron.com For questions about the report, or to get an alert when the report is updated, please email us at: pulsereport@chevron.com The Chevron Pulse Report(TM) is © 2010 Chevron Corporation. All rights reserved. Chevron hereby grants to any person a royalty-free license to copy the Report in whole or in part. Your license is conditioned upon providing attribution to Chevron (e.g. “Source: Chevron Pulse Report, Q1 2010 Edition”). Chevron Pulse Report - July 2008 - December 2009 Edition | Prepared by Edelman © 2010 Chevron Corporation | 60

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Chevron Pulse Report: July 2008 to December 2009

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Chevron Pulse Report: July 2008 to December 2009 — Presentation Transcript