Press release:

Chevron’s Fuel Your School Program Expands to Support Nine Communities Across the U.S.

Innovative program to fund classroom projects adds seven communities to the 2012 program; consumers can help generate nearly $5 million for teachers and students

SAN RAMON, Calif., Sept. 5, 2012 – Chevron U.S.A. Inc. (NYSE: CVX) announced the expansion of its Fuel Your School program to nine communities this fall from two communities in 2011.  Fuel Your School will provide useful funding for eligible classroom projects developed by public school teachers and posted to DonorsChoose.org in the following communities:

• Alameda and Contra Costa counties, California

• Orange County, California

• Kern County, California

• Sacramento County, California

• St. Tammany, Orleans and Plaquemines parishes, Louisiana

• Jackson County, Mississippi

• Multnomah County, Oregon

• Harris County, Texas

• Salt Lake and Davis counties, Utah

Chevron will donate $1 for every eight gallon or larger fill up from Oct. 1 to Oct. 31 at participating Chevron and Texaco stations in those communities, up to a total contribution of nearly $5 million.

"Educating today's students remains critical to our country's future, but America's schools face significant challenges and have fallen behind in science, technology, engineering and math," said Dale Walsh, president of Chevron Americas Products. "Fuel Your School provides teachers with essential tools and resources that help students learn, explore and get excited about STEM education to help prepare them for the jobs of tomorrow."

The program is an innovative collaboration with DonorsChoose.org, an online charity to help students in need. All year, public school teachers across the U.S. post classroom project requests on DonorsChoose.org, ranging from pencils to microscope slides and even live tarantulas for use with biology lessons.

"Teachers spend more than $350 of their own money every year on materials for their students," said Charles Best, CEO of DonorsChoose.org. "Our site enables public school teachers to post projects for funding from their community and companies like Chevron who want to improve students' education."

The lack of adequate school funding across the nation has become so dire that some teachers do not have basic supplies to help students complete their classroom assignments. During the last school year, public school teachers shared more than 100,000 requests on the DonorsChoose.org website. One of those requests came from Ms. Lim-Breitbart, who teaches high school physics at Aspire California College Preparatory Academy in Berkeley, Calif., but lacked the resources to provide students with hands-on scientific activities. With the help of the Fuel Your School program, she and her students received digital thermometers and hot plates to use during physics lessons.

"[The] donation helped change our classroom from 'getting by' to 'doing real science' this year," said Lim-Breitbart. Students now believe that "science is a real option for them in the future."

Chevron partners with local communities, governments and non-profit organizations to increase learning opportunities for students and support the social and economic vitality of communities where the company has significant business operations. Chevron has contributed nearly $100 million for education in the U.S. over the past three years.

Since its inception in 2010, Fuel Your School has funded more than 3,000 classroom projects at nearly 600 schools, and the program has grown each year to support students in additional communities. Public school teachers and other educators are invited to post eligible projects starting on September 1 to www.DonorsChoose.org, for possible funding as part of the Fuel Your School program.

Consumers can track the classroom projects in need of funding and see how much money is being earned for public schools in each city by visiting www.FuelYourSchool.com. Donations earned through Fuel Your School will be used to fund eligible classroom projects from Oct. 2 through Nov. 30, 2012, or until funds generated by this program have been exhausted by eligible projects. Consumers and Chevron employees may also independently fund classroom projects on the DonorsChoose.org website by making separate, individual donations.

About Chevron

Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.

About DonorsChoose.org

Founded in 2000, DonorsChoose.org is an online charity that makes it easy for anyone to help students in need.  Public school teachers from every corner of America post requests, and individuals can give directly to the ones that inspire them. To date, 237,000 public and charter school teachers have used DonorsChoose.org to secure $120 million in books, art supplies, technology, and other resources that their students need to learn.

Schools Pass Debt to the Next Generation

The following is an excerpt from an article in 

The New York Times
Friday, August 17, 2012

Schools Pass Debt to the Next Generation

By FLOYD NORRIS

The deleveraging of America is well under way, as individuals and companies recover from the excess borrowing that helped to produce the boom and left many people vulnerable when the bust arrived. Household debt is down nearly $900 billion over the last four years, partly from repayments and partly from defaults.

During the crazy times, homeowners could get mortgages that allowed them to pay less than the full amount of interest being charged, with the rest added to the principal. Commercial property owners generally paid the full amount of interest, but did not have to repay any principal until the loan matured in five or 10 years. For both homes and commercial properties, lenders were willing to rely on extremely optimistic appraisals.

For property buyers, those days are gone,

But for some borrowers, it is still possible to borrow now and pay nothing for decades.

There is a furor in California because the Poway Unified School District, in San Diego County, borrowed money last year on terms that even Countrywide would have laughed at during the boom. It will not pay a dime of interest or principal for more than two decades. Only then will it begin to service the bonds.

It is paying a high price. Although it has a good credit rating — Aa2 at Moody’s and AA– at Standard & Poor’s — it will eventually pay tax-exempt interest of up to 6.8 percent for the borrowings. When it issued more conventional bonds last year, it paid rates that were much lower, ranging up to just 4.1 percent.

For borrowing $105 million in 2011, taxpayers — or perhaps it would be more accurate to say the children and grandchildren of today’s taxpayers — will pay $877 million in interest between 2033 and 2051.

For more, visit www.nytimes.com.