Energy

State’s Low Fuel Reserves Criticized;

May 25, 2006  ·  Consumer Watchdog

<h3>Refiners limit on-hand gasoline inventory to boost profit, a consumer group's report alleges.</h3><p class="source">The Los Angeles Times</p> <p>Meager stockpiles of California's cleaner-burning gasoline helped drive pump prices to record heights in recent weeks and are setting the stage for more of the same this summer, energy experts said Wednesday. That point was underscored in a report by the Santa Monica-based Foundation for Taxpayer and Consumer Rights, which accused oil companies of squeezing on-hand inventories to boost profits at the expense of consumers across the West.</p>

Depends what you mean by ‘gouged’…

May 24, 2006  ·  Consumer Watchdog

<p class="source">Marketplace Radio Program (American Public Media)</p> <p>You might remember yesterday we told you about a report by the Federal Trade Commission. It said there was no illegal price fixing in the oil markets after Hurrican Katrina. But that wasn't enough for the chairman of the Senate Commerce Committee. Today, Alaska Republican Ted Stevens said he wants to outlaw excessive price increases. Said he's going to write a bill that'll take care of it. First, though, he has to define what exactly price gouging is. Commentator and consumer advocate Jamie Court is happy to help.</p>

Depends what you mean by ‘gouged’…

May 23, 2006  ·  Jamie Court

<p class="source">Marketplace Radio Program (American Public Media)</p> <p>With outrageous gasoline prices sucking the life out of the economy, why doesn't the federal government apply the same state standard for price gouging prosecutions all the time, not just during emergencies? </p>

Feds: No collusion or price gouging;

May 23, 2006  ·  Consumer Watchdog

<h3>Blame it on Katrina: Investigators say oil costs rose because of supply and demand, not corporate greed California Sen. Boxer: 'Report proves that this administration is owned and operated by big oil'</h3><p class="source">THE SAN FRANCISCO CHRONICLE</p> <p>Jamie Court of Santa Monica's Foundation for Taxpayer & Consumer Rights said the commission didn't study broader questions of why U.S. demand for gas has risen 30 percent, while supply is up 10 percent. "Seems you'd want to keep up with demand unless you want to make more money,'' he said of the oil companies.</p>

Arnold’s Oilers

May 19, 2006  ·  Consumer Watchdog

<font face="verdana,sans-serif" size="2">California's attorney general is subpoenaing oil executives over the high price of gasoline. Arnold Schwarzenegger is headed to the land of big oil, hat in hand, for a Houston fundraiser Monday...</font>

California gas-price gap with rest of U.S. grows

May 18, 2006  ·  Consumer Watchdog

<p class="source">Sacramento Bee</p> <p>Attorney General Bill Lockyer has issued subpoenas to every California refinery for evidence of "profiteering and gouging." The Foundation for Taxpayer and Consumer Rights, a watchdog group based in Santa Monica, accused California refiners of "artificially withholding supply through tactics that would be the envy of Enron."</p>

Gasoline Costs Fall Slightly in State;

May 16, 2006  ·  Consumer Watchdog

<h3>Pump prices average $3.33, a weekly survey shows. It's unclear how long the break will last.</h3><p class="source">The Los Angeles Times</p> <p>Muddying the picture for California, state figures released Wednesday showed gasoline production at in-state refineries fell in the week ended May 5 and was more than 3% below year-earlier levels. In addition, inventories for California-grade gasoline were nearly 28% below levels at the same time in 2005. In a letter to Atty. Gen. Bill Lockyer last week, the Foundation for Taxpayer and Consumer Rights called the data "fresh evidence that California's oil companies have artificially reduced supply to drive up gasoline prices." </p>

Big Oil limiting gasoline supply;

May 14, 2006  ·  Jamie Court

<h3>California pays for corporate chicanery</h3><p class="source">The San Francisco Chronicle</p> <p>California oil refiners have rigged their system by limiting the number of refineries and running on low inventories. The companies have closed nearly half the state's refineries since federal gasoline deregulation in 1981. Today, the gasoline supply barely meets demand. As a result, the commodity appears scarce and the market price for it is sky high, along with profits. </p>

Big Oil limiting gasoline supply; California pays for corporate chicanery

May 14, 2006  ·  Jamie Court

<p class="source">The San Francisco Chronicle</p> <p>California oil refiners have rigged their system by limiting the number of refineries and running on low inventories. The companies have closed nearly half the state's refineries since federal gasoline deregulation in 1981. Today, the gasoline supply barely meets demand. As a result, the commodity appears scarce and the market price for it is sky high, along with profits. </p>

Letter to Attorney General Bill Lockyer Re: Oil Companies’ Violation of California’s Unfair Competition Act

May 11, 2006  ·  Consumer Watchdog

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Anti-gouging laws don’t cut gas prices;

May 10, 2006  ·  Consumer Watchdog

<h3>State probed 50 potential cases; no charges</h3><p class="source">THE SAN FRANCISCO CHRONICLE</p> <p>"It's the oil companies who are getting fat and rich, and they're the ones who are largely safe from gouging laws," said Jaime Court, executive director of the Foundation for Taxpayer and Consumer rights, a watchdog group. "The only ones who are going to get prosecuted are the little guys."</p>

Gasoline Supplies Should Be Regulated and ‘Shortages’ Should Be Prevented

May 8, 2006  ·  Judy Dugan

<p class="source">Los Angeles Business Journal</p> <p>Anyone whose hair stood on end during the latest round of record oil company profits ought to start bracing now for next quarter's reports. Half of California's dollar-a-gallon price spike since Jan. 1 for regular gasoline has come in the last 30 days, thus wasn't included in first-quarter earnings. It is hard to imagine oil companies continuing to spin their defiant excuses -- the price of crude oil, the price of ethanol -- when they are increasing prices so much faster than their costs.</p>