Energy

Gas prices up over $3 a gallon

May 8, 2007  ·  Consumer Watchdog

<p class="source">NBC-TV Nightly News (National 6:30 PM EST)</p> <p>Oil watchdog groups say profits for the refining part of companies like Exxon and Chevron are way up. Ms. JUDY DUGAN (<a href="http://www.oilwatchdog.org">Oilwatchdog.org</a>): All of the refiners are making more money than ever.</p>

State’s gasoline prices at new high;

May 8, 2007  ·  Consumer Watchdog

<h3>The average rises to $3.461 as refineries continue to struggle with production.</h3><p class="source">Los Angeles Times</p> <p>In California, which has the nation's highest retail price, one consumer advocacy group urged Gov. Arnold Schwarzenegger and the Legislature to convene a special session to investigate. "If oil companies won't make enough gasoline to allow prices to moderate, and if they can't keep their refineries running properly, they need more oversight," said Judy Dugan, research director of the Foundation for Taxpayer and Consumer Rights in Santa Monica.</p>

Refinery Backlog Prompts Spike in Gas Prices

May 7, 2007  ·  Consumer Watchdog

<p class="source">All Things Considered (National Public Radio)</p> <p>Consumer advocate Jamie Court of OilWatchdog.org sees a more sinister explanation. He compares this year's string of refinery shutdowns to the California electricity crunch six years ago, when some power-plant operators deliberately idled plants in order to drive up the price. Mr. JAMIE COURT (Consumer Advocate, <a href="http://www.oilwatchdog.org">OilWatchdog.org</a>): "When oil companies aren't being watched, and when there's no legal bar for them to close down refineries so they can jack up the price of gasoline, they'll do it, and there's nothing we can do."</p>

It’s us, not OPEC, driving up gasoline prices

May 4, 2007  ·  Consumer Watchdog

<p class="source">The Gazette (Montreal, Canada)</p> <p>A California consumer group, the Foundation for Taxpayer and Consumer Rights, has dug up a number of old memos from major oil companies discussing quite frankly the need to cut refining capacity in order to boost profit margins.</p>

Oil Refiners’ Production Lows, Profit Highs;

May 3, 2007  ·  Consumer Watchdog

<h3>Where's the gas? As pump prices test $3, persistent problems, from old plants to a shortage of skilled workers, spur debate on the industry.</h3><p class="source">Business Week Online</p> <p>The reports of rich profits alongside higher pump prices have some groups crying foul. "Oil companies that have refused to increase refinery capacity enough to meet population took refineries out of service for longer and refused to import gasoline to make up the difference," says Judy Dugan, research director of the Foundation for Taxpayer & Consumer Rights in Santa Monica, Calif. "Then they have the gall to behave as though gasoline prices are an act of fate, not the shortage that they created."</p>

Today at the Pump; Gas prices are 7 cents more than they were last year and continue to rise.

May 3, 2007  ·  Consumer Watchdog

<p class="source">The Today Show (NBC-TV National)</p> <p>OKWU: But industry watchdogs say the oil companies are gouging consumers by indirectly controlling the supply. Ms. DUGAN: They control how big their refineries are. They control how much comes out of their refineries. They control when they do maintenance.</p>

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>