Energy

How high will gas prices rise this summer?

May 2, 2007  ·  Consumer Watchdog

<p class="source">The Wall Street Journal</p> <p>Consumer groups already have started complaining about the recent rise in gasoline prices and are urging politicians to push oil companies to expand refining capacity. "There isn't enough refining capacity, and that is a deliberate business decision," says Judy Dugan, director of research at the Foundation for Taxpayer and Consumer Rights, a nonprofit organization. The oil industry counters that it's more economical to build refineries in rapidly growing markets like Asia than in the U.S.</p>

Gasoline costs driven to a record;

May 1, 2007  ·  Consumer Watchdog

<h3>California's average hits $3.359 for a gallon of regular. Many analysts blame the run-up on a string of refinery woes.</h3><p class="source">Los Angeles Times</p> <p>"Oil companies that have refused to increase refinery capacity enough to meet population [growth] took refineries out of service for longer-than-usual maintenance, as well as fires, leaks and even shortages of repair supplies, but refused to import gasoline to make up the difference," said Judy Dugan, research director at the Foundation for Taxpayer and Consumer Rights. "Then they have the gall to behave as though gasoline prices are an act of fate, not the shortage that they created."</p>

Billions more in Chevron profit;

April 28, 2007  ·  Consumer Watchdog

<h3>Earnings jump 18% at San Ramon company even as crude oil prices slump in 1st quarter</h3><p class="source">The San Francisco Chronicle</p> <p>In other words, prices were high enough that refineries made more money while producing less gasoline. Margins for all refineries on the West Coast, not just Chevron's, rose 45.7 percent in the quarter. "A company that seems barely able to keep its refineries running, and saw oil prices dip from last year, took advantage of an uncompetitive market to make up its losses with spiking gasoline prices," said Judy Dugan, research director for the Foundation for Taxpayer and Consumer Rights.</p>

As supply shrinks, gas prices rise;

April 28, 2007  ·  Consumer Watchdog

<h3>Falling imports, strong demand, insufficient capacity all blamed.</h3><p class="source">The Kansas City Star</p> <p>Judy Dugan, research director for the Foundation for Taxpayer and Consumer Rights in Santa Monica, Calif., said that rising refinery profits are in essence forcing the public to subsidize the oil industry. "Every time you put the nozzle into your tank, you're making up for any perceived shortage of profits they have elsewhere," she said.</p>

Record profits rev up Chevron;

April 28, 2007  ·  Consumer Watchdog

<h3>Earnings of $4.72 billion up 18% in 1st qtr despite dip in revenues and $150 million Richmond refinery outage.</h3><p class="source">Contra Costa Times (California)</p> <p>The profit and refinery margin trends provoked criticism from an activist group, the Foundation for Taxpayer and Consumer Rights. "A company that seems barely able to keep its refineries running, and saw oil prices dip from last year, took advantage of an uncompetitive market to make up its losses with spiking gasoline prices," said Judy Dugan, research director with the consumer foundation. </p>

Exxon, Valero profits jump;

April 27, 2007  ·  Consumer Watchdog

<h3>The quarterly gains, coming at a time of soaring pump prices, prompt renewed calls for legislative action.</h3><p class="source">Los Angeles Times</p> <p>In California, the Foundation for Taxpayer and Consumer Rights provided a scathing response to Exxon's earnings report. "When refining profits are driving world-record profits, that means motorists are being gouged," said Judy Dugan, research director at the Santa Monica-based consumer group. "Congress and would-be regulators... should be demanding an end to profiteering by Exxon Mobil and its Big Oil brethren."</p>

How green is Chevron?

April 25, 2007  ·  Jamie Court

<p class="source">The San Francisco Chronicle</p> <p>Is Chevron really going green? Shareholders, who partook in Chevron's record $17 billion petroleum profit last year, may only want their company to appease the new environmentally sensitive Congress with green puffery. If the company is going to talk the talk, though, it needs to walk the walk.</p>

How green is Chevron?

April 25, 2007  ·  Consumer Watchdog

<p class="source">The San Francisco Chronicle</p> <p>Is Chevron really going green? Shareholders, who partook in Chevron's record $17 billion petroleum profit last year, may only want their company to appease the new environmentally sensitive Congress with green puffery. If the company is going to talk the talk, though, it needs to walk the walk.</p>

Greenwashing Fears Raised by Berkeley-BP Initiative

April 24, 2007  ·  Consumer Watchdog

<p class="source">The NewStandard</p> <p>Consumer advocates also demand more public input and transparency in the management of the EBI. John M. Simpson of the California-based Foundation for Taxpayer and Consumer Rights said the agreement must ensure that for any useful discovery, "all companies and other research institutions should have equal access to it and be able to use it, because it's research done in a public university."</p>

Will Arnold Take on Chevron?

April 20, 2007  ·  Consumer Watchdog

<font face="verdana,sans-serif" size="2">The lawyer from Ecuador who is prosecuting Chevron for its crimes against the Amazon has written Arnold Schwarzenegger, asking the Gov to get tough with Chevron, which has kicked in more than a...</font>

UC Berkeley biofuels deal stirs debate;

April 20, 2007  ·  Consumer Watchdog

<h3>Critics of a $500-million agreement with BP to create a lab at the school raise questions about the influence the oil giant would have on campus.</h3><p class="source">Los Angeles Times</p> <p>Some critics charge that the privately negotiated pact will turn the campus into "UCBP." And they question aspects of the deal that would give the oil company unusual influence at the campus, including exclusive control over some of the institute's expected findings.</p>

BERKELEY: FACULTY PANEL BACKS BIOFUELS DEAL

April 19, 2007  ·  Consumer Watchdog

<p class="source">CBS-TV5 (San Francisco, CA)</p> <p>Playing on the names of the university and the energy company, John Simpson of the Santa Monica-based Foundation for Taxpayer and Consumer Rights said, "We don't want to see big oil have its latest outpost be UC-BP." Simpson said he believes BP "wants to wrap itself in a clean brand name and greenwash its justifiably dirty image." He referred to a Texas refinery accident in March 2005 in which 15 people were killed and 180 were injured. Simpson said if the Academic Senate doesn't pass a resolution opposing the deal, he would take the matter to UC's Board of Regents and urge it to step in.</p>