News Releases

CA’s Big 5 Oil Refiner Profits Top $26 Billion, $1 Per Gallon; Watchdog To Make Case For Profits Disclosure Bill And Windfall Profits Tax To Assembly Gas Pricing Committee

December 1, 2022  ·  Liza Tucker

? Los Angeles, CA— A review of California’s five big oil refiners’ investor reports from the second quarter shows unprecedented, windfall profits that top $1 per...

New Poll Shows More Than 60% of Californians Support Windfall Profits Cap On Oil Refiners

November 30, 2022  ·  Evan Thomas King

? More than six in ten California voters support a proposal to impose a windfall profits cap and price gouging rebate on oil refiners for...

Oil Producers Financing Referendum Against Drilling Ban Received New Permits This Year To Drill In Public Health Safety Zone Ahead Of January Ban

November 17, 2022  ·  Liza Tucker

Los Angeles, CA—As a ban on permit approvals for oil drilling near vulnerable communities looms on January 1, oil drillers seeking to overturn the ban...

California Oil Refiners Post 30% Higher Profits In CA, Capturing A $1.8 Billion Windfall: Why We Need A Windfall Profits Cap

November 3, 2022  ·  Liza Tucker

With California’s five big oil refiner third quarter profits reports complete, a Consumer Watchdog review shows that four of the five together posted 30% higher profits per gallon from gasoline sold on the West Coast than anywhere else in the nation or world.

Phillips Extracts 68 Cents Per Gallon In 3rd Q Profits From West Coast Consumers; Pushes Total Windfall Profits For CA Refiners Past $1.5 Billion This Year

November 1, 2022  ·  Liza Tucker

Los Angeles, CA—Oil refiner Phillips 66 posted 3rd quarter refining profits of $2.8 billion, accounting for more than half of its total quarterly profits of $5.3...

Chevron Doubles 3rd Q Refining Profit to $2.5 Billion; New CA Transparency Law To Reveal Extent Of Big, Hidden Windfall Profits

October 28, 2022  ·  Liza Tucker

Los Angeles, CA—Chevron posted refining profits of $2.5 billion dollars in the third quarter, almost doubling their haul from the same quarter the year before. Half...

PBF’s Oil Refining Profits Triple, Makes 78 Cents Per Gallon On California Gasoline Compared To 50 Cents In Rest Of US

October 27, 2022  ·  Liza Tucker

Los Angeles, CA— California’s third biggest oil refiner made a whopping $2.26 billion off refining gasoline, tripling its profit in the third quarter, after excluding...

Valero Quintuples 3rd Quarter Profits; Makes Windfall Of $50 million Off CA Consumers With 60 Cents Per Gallon Profit In West

October 25, 2022  ·  Liza Tucker

Los Angeles, CA—Valero’s net income hit $2.8 billion for the third quarter of 2022, more than quintupling the $463 million reported for the same quarter...

Investor Data For 20 Years Shows CA Oil Refiners Tripled Their Average Annual Profits In 2022; Windfall Profits Rebate Estimate for 2022 About $1 Billion Already

October 20, 2022  ·  Jamie Court

Los Angeles, CA — A review of oil refiner shareholder reports shows California oil refiners made an average of 32 cents per gallon annually from...

Fifty Environmental & Public Interest Groups Back Newsom’s Special Session Bid To Cap Oil Refiner Windfall Profits In Letter To Leadership

October 18, 2022  ·  Jamie Court

Los Angeles, CA—Fifty environmental and public interest groups wrote legislative leaders to back Governor Gavin Newsom’s call for a special legislative session to establish a...

Consumer Watchdog Applauds Governor’s Call For Special Session On Gasoline Price Gouging

October 7, 2022  ·  Jamie Court

Los Angeles, CA — Consumer Watchdog today applauded Governor Newsom for calling a special session of the legislature to deal with price gouging at the...

California Oil Refiners’ Windfall Profits Require A Windfall Profits Tax To Bring Gas Prices Under Control, Consumer Watchdog Report Shows

October 6, 2022  ·  Jamie Court

Los Angeles, CA — Pointing to windfall profits reported by California oil refiners to their investors, Consumer Watchdog issued a report showing that a windfall...