U.S. Senate Judiciary Committee – Oil & Gas Industry Consolidation Hearing from March 14, 2006
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Energy
Gas prices soar – again; You may be paying $3.25 a gallon by Memorial Day
<h3>Oil: U.S. has crude - but too few refineries</h3><p class="source">Sacramento Bee</p>
<p>The Foundation for Taxpayer and Consumer Rights, based in Santa Monica, issued a report Tuesday blaming the high prices on corporate greed. "Clearly this is all about increased refining margins and profits," said Jamie Court, the foundation's president. This is all about oil refiners being opportunistic and seizing on developments that don't affect their production costs... using that as an excuse to jack up the price of gasoline."</p>
Refiners Enjoying Bigger Profits;
<h3>Estimates show earnings at the state's gasoline producers have doubled since January while average pump prices creep toward $3 a gallon.</h3><p class="source">Los Angeles Times</p>
<p>"These numbers prove it's not the rising cost of crude that's driving the price at the pump, it's the opportunism of the oil companies to seize on any change in market conditions to push up the retail prices disproportionally," said Jamie Court, president of the Foundation for Taxpayer and Consumer Rights, a Santa Monica group critical of the oil industry.</p>
Angelides’ past tactic to tap corporate funds now under scrutiny;
<h3>Governor's race puts new spotlight on 1989 donations</h3><p class="source">THE SAN FRANCISCO CHRONICLE (California)</p>
<p>Jamie Court, who heads the Foundation for Taxpayer and Consumer Rights, said Angelides' past fundraising actions don't necessarily reflect on the treasurer's position today -- nor on how he would govern.</p>
Commission Sides With Telecom Industry;
<h3>Accusations Of Conflict Of Interest in CPUC</h3><p class="source">ABC TV-7 KGO (San Francisco)</p>
<p>Consumer activists accuse the governor of working behind the scenes to set aside consumer complaints so he can gather telecom cash. Carmen Balber, The Foundation for Taxpayer and Consumer Rights: "Governor Schwarzenegger has collected, over the last three years, over $370,000 from the telecommunication industry." </p>
Ways and Means chairman announces he will not seek reelection
<p class="source">Associated Press</p>
<p>FTCR's president, Jamie Court, welcomed Thomas' retirement, calling him the "poster child for everything that has gone wrong with the Republican revolution. He has literally been the ideological godfather of the privatization of health care and fiscal irresponsibility with regards to the budget deficit," Court said. "Bill Thomas to me as a Republican is an embarrassment."</p>
Cell Out, Take II
<font face="verdana,sans-serif" size="2">Arnold's Public Utilities
Commission (PUC) earned a zero in customer service yesterday when they
passed a set of weak rules and tried to pass them off as cell phone
consumers' rights. The plan...</font>
Initiative Targets Punitive Awards;
<h3>A proposed measure would bar assessment of such damages in many product liability suits.</h3><p class="source">The Los Angeles Times</p>
<p>"This measure removes a major check on outrageous behavior," said Robert Fellmeth, a former district attorney and executive director of the Center for Public Interest Law at the University of San Diego.</p>
High Court Rules for Oil Firms
<p class="source">Los Angeles Times</p>
<p>Jamie Court, president of the Foundation for Taxpayer and Consumer Rights, said the court's ruling was tantamount to giving oil companies free rein. "This is the ultimate example of, 'Unless you catch the oil executives actually smoking cigars and carving up a market, there cannot be an antitrust prosecution,' " he said.</p>
Going Low Octane
<p>
The following commentary by FTCR President Jamie Court was broadcast
on the Marketplace Morning Report radio program on NPR on Tuesday,
February 21st, 20006. ...</p>
EDITORIAL: Return oil profits to American people
<p class="source">The Baltimore Sun</p>
<p>Some experts believe the gigantic profits result not from chance but from limited refining capacity -- possibly deliberate -- reducing supply and boosting prices. Although demand has grown dramatically in recent decades, Jamie Court, president of the Foundation for Taxpayer and Consumer Rights, observes: "We haven't had a refinery built since 1976."</p>