Energy

Katrina exposes oil industry problems

September 11, 2005  ·  Consumer Watchdog

<p class="source">UPI - United Press International</p> <p>Industry critics allege oil companies have intentionally limited refining capacity to improve the bottom line. "They are supposed to compete and bring the lowest price to consumers," said Jamie Court, president of the Foundation for Taxpayer and Consumer Rights. "But the truth is that a small number of oil companies cheat by working together by artificially reducing supplies."</p>

Storm Stretches Refiners Past a Perilous Point

September 11, 2005  ·  Consumer Watchdog

<p class="source">The New York Times</p> <p>'Oil companies have jacked up gasoline prices through a simple mechanism: reducing inventories and refining capacity,'' said Jamie Court, president of the Foundation for Taxpayer and Consumer Rights, an advocacy group, whose views are widely shared by industry opponents. ''They are supposed to compete and bring the lowest price to consumers,'' Mr. Court said. ''But the truth is that a small number of oil companies cheat by working together by artificially reducing supplies.''</p>

Some calling profits obscene

September 9, 2005  ·  Consumer Watchdog

<p class="source">Philadelphia Daily News</p> <p>Indeed, public-interest group, the Foundation for Taxpayer and Consumer Rights (FTCR), just this week released internal memos from Chevron, Texaco and Mobil during the 1990s suggesting there was an intentional effort to keep America's gasoline-refining capacity down to boost profit margins.</p>

Debate over alleged gas-price gouging in California continues

September 9, 2005  ·  Consumer Watchdog

<p class="source">Sacramento Bee (California)</p> <p>Consumer advocates such as Jamie Court say they believe the oil companies have shown they're willing to restrict supplies in an effort to raise prices. The most recent example came when Shell Oil Co. was prepared to close its Bakersfield refinery until elected officials and Court's organization, the Foundation for Taxpayer and Consumer Rights, pressured Shell into finding a buyer for the facility. The refinery supplies about 2 % of California's gas</p>

Consumer expert: Hurricane exposes need for more U.S. refineries

September 8, 2005  ·  Consumer Watchdog

<p class="source">Gannett News Service</p> <p>Jamie Court, president of Foundation for Taxpayers and Consumer Rights, said the oil companies deliberately reduced their refining capacity in the 1990s to make more money. So when a disaster hits, he added, there is no reserve to tap into and gas prices skyrocket.</p>

Katrina’s Aftermath – Energy Profits Likely to Keep Rising;

September 8, 2005  ·  Consumer Watchdog

<h3>Industry executives and analysts expect refiners' gains to continue to be strong into next year.</h3><p class="source">Los Angeles Times</p> <p>Jamie Court, president of the Foundation for Taxpayer and Consumer Rights in Santa Monica, said the industry hasn't built new refineries in decades and otherwise keeps supplies low, "so every disaster means a big hike in profits. The Congress and the statehouse need to focus on regulating [fuel] supplies in the same way they regulate electricity supplies," he said.</p>

BLACK-GOLD BLUES: Big Oil’s secret strategy to gush profits exposed;

September 8, 2005  ·  Consumer Watchdog

<h3>Memos purportedly show refiners sought to limit ops to spike price of gasoline</h3><p class="source">WorldNetDaily</p> <p>"Large oil companies have for a decade artificially shorted the gasoline market to drive up prices," said Jamie Court, president of the FTCR, who successfully fought to keep Shell Oil from needlessly closing its Bakersfield, Calif., refinery this year. "Oil companies know they can make more money by making less gasoline. Katrina should be a wakeup call to America that the refiners profit widely when they keep the system running on empty."</p>

Oil profiteers employing slick tactics

September 4, 2005  ·  Consumer Watchdog

<p class="source">The Denver Post</p> <p>Jamie Court, president of the Foundation for Taxpayer and Consumer Rights, said the explanation for the high prices is right there in the oil companies' quarterly reports. It's the result of "huge profiteering."</p>

GAS PRICE PROBE OPENS;

September 3, 2005  ·  Consumer Watchdog

<h3>ATTORNEY GENERAL TO INVESTIGATE SKYROCKETING PUMP COSTS</h3><p class="source">The Daily News of Los Angeles</p> <p>"The oil companies have rigged the system to always be operating in disaster mode,'' said Jamie Court, FTCR's president. "When a real disaster hits, the public can see that is what's really happening. They're doing it because they can. The problem is, the station owner is caught in the middle. This investigation has to be on the oil companies' roles in setting the price for the dealers.''</p>

California drivers worried about gouging at the pump;

September 3, 2005  ·  Consumer Watchdog

<h3>Cost per gallon has jumped 8 cents on average since storm</h3><p class="source">The San Francisco Chronicle</p> <p>"Hurricane Katrina will only increase the probability of profiteering and should be a wakeup call to legislators," said Jamie Court, president of the Foundation for Taxpayer and Consumer Rights -- California. The organization's report argues that oil companies have exported refined gasoline from California well before the hurricane to keep prices high.</p>

A Snappy Retort, but No Relief at the Pump

September 3, 2005  ·  Consumer Watchdog

<p class="source">Los Angeles Times</p> <p>The profiteering was actually well underway before Katrina, according to Jamie Court of the Foundation for Taxpayer and Consumer Rights. He claims that the oil industry manipulates the market by keeping gasoline production low so prices will stay high. "Katrina will only increase the probability of profiteering and should be a wake-up call to legislators," said Court, who called for a consumer rebate to kick in during times of windfall profits that result from price gouging.</p>

Price-gouging suspicions grow

September 2, 2005  ·  Consumer Watchdog

<p class="source">The San Diego Union-Tribune (California)</p> <p>The Foundation for Taxpayer & Consumer Rights also said it has completed a study that found more than 90 percent of the run-up in California prices this year had gone to corporate profits, not to higher costs of production.</p>