Energy

Pump prices stuck on ‘up’

April 25, 2006  ·  Consumer Watchdog

<p class="source">The San Diego Union-Tribune (California)</p> <p>"Of the 60-cent increase in gasoline prices this year, 42 cents is entirely attributable to refiner profits," said Doug Heller of the Foundation for Taxpayer & Consumer Rights. "That's not a supply issue or a crude issue. It's a gouging issue." The foundation is calling for a windfall profits tax on the industry, among other measures.</p>

U.S. oil companies under fire as gasoline prices soar

April 25, 2006  ·  Consumer Watchdog

<p class="source">Agence France Presse</p> <p>The Foundation for Taxpayer and Consumer Rights in a recent report on California prices -- among the country's highest -- said the link between crude prices and the price of gasoline at the pump was questionable.</p>

Gas prices fuel outrage

April 23, 2006  ·  Consumer Watchdog

<p class="source">Connecticut Post (Bridgeport, Connecticut)</p> <p>Exxon Mobil Corp. invested only $10 million last year on direct research on alternative energy while reaping a record $36 billion in profits. Meanwhile, it handed its retiring chief executive officer a nearly half-billion-dollar parachute, according to the Foundation for Taxpayer and Consumer Rights.</p>

Gas prices go into overdrive

April 22, 2006  ·  Consumer Watchdog

<p class="source">Santa Barbara News-Press (California)</p> <p>One statewide group, the Foundation for Taxpayer and Consumer Rights, on Friday called for the governor and Legislature to consider public regulation of refineries and to return "windfall profits" to consumers via a rebate.</p>

Soaring Prices at the Pump

April 22, 2006  ·  Consumer Watchdog

<p class="source">CNN-TV SATURDAY NIGHT (10 PM EST)</p> <p>JAMIE COURT, CONSUMER RIGHTS ADVOCATE: Every time you see the price of gasoline go up at the pump, you can hear ka-ching, ka-ching in the bank accounts of the oil companies.</p>

Blowing the top off gas prices

April 21, 2006  ·  Consumer Watchdog

<h3>'This is all about the refineries making a killing'</h3><p class="source">The Kansas City Star</p> <p>A study by the consumer group FTCR concluded that higher refinery profits cost Californians an extra $546 million in April compared with the same period last year.</p>

Soaring gas prices force some changes in Marin

April 21, 2006  ·  Consumer Watchdog

<p class="source">Marin Independent Journal (California)</p> <p>The main cause of the price spike is increased profits for oil companies, said petroleum industry consultant Tim Hamilton, in a study commissioned by the Foundation for Taxpayer and Consumer Rights of Santa Monica.</p>

Liquid gold: Gallon of gas now $3.07;

April 21, 2006  ·  Consumer Watchdog

<h3>County's price surge outpaces rest of U.S.</h3><p class="source">The San Diego Union-Tribune</p> <p>Crude oil plays only a small part in the gasoline price surge, says Jamie Court, presidnet of FTCR. "This is all about the oil companies shorting the market," said Court, who argues that refiners prefer to keep gasoline in short supply to boost prices. "Why would they produce more, when every time they cut back on production, prices go through the roof?"</p>

Gas Prices in Region Hit New Highs;

April 21, 2006  ·  Consumer Watchdog

<h3>The average cost for self-serve regular in Los Angeles tops $3. More pump pain is expected.</h3><p class="source">The Los Angeles Times</p> <p>Consumer advocates contend that the industry is profiteering. In a report issued Tuesday, the Foundation for Taxpayer and Consumer Rights said that gasoline in Washington state, which isn't made with ethanol, has been rising at the same pace as in California. Refiners have denied they are profiteering.</p>

U.S. Senate Judiciary Committee – Oil & Gas Industry Consolidation Hearing from March 14, 2006

April 19, 2006  ·  Consumer Watchdog

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Gas prices soar – again; You may be paying $3.25 a gallon by Memorial Day

April 19, 2006  ·  Consumer Watchdog

<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;

April 16, 2006  ·  Consumer Watchdog

<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>