Energy

Phillips Extracts 68 Cents Per Gallon In 3rd Q Profits From West Coast Consumers; Pushes Total Windfall Profits For CA Refiners Past $1.5 Billion This Year

November 1, 2022  ·  Liza Tucker

Los Angeles, CA—Oil refiner Phillips 66 posted 3rd quarter refining profits of $2.8 billion, accounting for more than half of its total quarterly profits of $5.3...

Chevron Doubles 3rd Q Refining Profit to $2.5 Billion; New CA Transparency Law To Reveal Extent Of Big, Hidden Windfall Profits

October 28, 2022  ·  Liza Tucker

Los Angeles, CA—Chevron posted refining profits of $2.5 billion dollars in the third quarter, almost doubling their haul from the same quarter the year before. Half...

PBF’s Oil Refining Profits Triple, Makes 78 Cents Per Gallon On California Gasoline Compared To 50 Cents In Rest Of US

October 27, 2022  ·  Liza Tucker

Los Angeles, CA— California’s third biggest oil refiner made a whopping $2.26 billion off refining gasoline, tripling its profit in the third quarter, after excluding...

Valero Quintuples 3rd Quarter Profits; Makes Windfall Of $50 million Off CA Consumers With 60 Cents Per Gallon Profit In West

October 25, 2022  ·  Liza Tucker

Los Angeles, CA—Valero’s net income hit $2.8 billion for the third quarter of 2022, more than quintupling the $463 million reported for the same quarter...

Californians Need a Rebate From Gasoline Price Gouging

October 20, 2022  ·  Jamie Court

Investor Data For 20 Years Shows CA Oil Refiners Tripled Their Average Annual Profits In 2022; Windfall Profits Rebate Estimate for 2022 About $1 Billion Already

October 20, 2022  ·  Jamie Court

Los Angeles, CA — A review of oil refiner shareholder reports shows California oil refiners made an average of 32 cents per gallon annually from...

KABC TV-7 Los Angeles, CA: Newsmakers Experts Explain Why Gas Prices Are So High

October 19, 2022  ·  Jamie Court

Fifty Environmental & Public Interest Groups Back Newsom’s Special Session Bid To Cap Oil Refiner Windfall Profits In Letter To Leadership

October 18, 2022  ·  Jamie Court

Los Angeles, CA—Fifty environmental and public interest groups wrote legislative leaders to back Governor Gavin Newsom’s call for a special legislative session to establish a...

KGO-TV California Oil Refiners Need A Windfall Profits Tax To Lower Gas Prices

October 15, 2022  ·  Evan Thomas King

Consumer Watchdog Applauds Governor’s Call For Special Session On Gasoline Price Gouging

October 7, 2022  ·  Jamie Court

Los Angeles, CA — Consumer Watchdog today applauded Governor Newsom for calling a special session of the legislature to deal with price gouging at the...

Taxing Oil Refiners’ Profits: How To Get Back What Californians Overpay At the Pump

October 6, 2022  ·  Liza Tucker

EXECUTIVE SUMMARY “Oil companies are ripping you off,” Governor Gavin Newsom tweeted on September 30. “Their record profits are coming at your expense at the pump. I’m calling for a NEW windfall tax exclusively on oil companies. If they won't lower their prices, we…

California Oil Refiners’ Windfall Profits Require A Windfall Profits Tax To Bring Gas Prices Under Control, Consumer Watchdog Report Shows

October 6, 2022  ·  Jamie Court

Los Angeles, CA — Pointing to windfall profits reported by California oil refiners to their investors, Consumer Watchdog issued a report showing that a windfall...