Energy

L.A. Gas Prices Drop More Than 20 Cents From July Highs

August 10, 2015  ·  Mark Reback

<p>After soaring well above the rest of the nation, the average gasoline price in the Los Angeles region fell almost 25 cents below their highs of a month ago.</p> <p>The average price for a gallon of regular gasoline in the L.A. area Monday stood at $3.81, according to AAA. In mid-July, AAA’s survey found the average price for the region reached a high of $4.05 a gallon.</p> <p>Analysts attributed the drop to falling crude oil prices and increased production at U.S. refineries.</p>

Watchdog: California Drivers Being Gas-Gouged On ‘Unprecedented’ Scale In 2015

August 6, 2015  ·  Mark Reback

<p>L<span class="story_dl">OS ANGELES, Aug. 6 (UPI) --</span> California gas prices are typically among the most expensive in the nation, but a consumer advocacy group on Wednesday called for legislation to put a stop to what it says is major league price-gouging -- to the tune of nearly $5 billion so far this year.</p>

Tom Steyer Fights High California Gas Prices

August 6, 2015  ·  Mark Reback

<div class="field field-name-body field-type-text-with-summary field-label-hidden"> <div class="field-items"> <div class="field-item even"> <p>Billionaire environmentalist Tom Steyer’s latest political fight is aimed at California’s high gasoline prices.</p> <p>Steyer, who is known nationally for spending millions upon millions of dollars to get climate-friendly candidates elected to national office, is blaming oil company profits for the high costs.</p>

Californians Get No Joy From Oil Rout Amid High Pump Prices

August 6, 2015  ·  Mark Reback

<div class="article-body__content"> <p><img class=" alignleft size-full wp-image-11253" alt="" class="left" src="https://consumerwatchdog.org/wp-content/uploads/2015/08/images_crudeoilprices.jpg" style="width: 500px; height: 266px; margin-left: 7px; margin-right: 7px; float: left;" width="1200" height="649" /></p> <p>Anybody looking for drivers pleased by the recent plunge in oil prices would be hard pressed to find them in Los Angeles.</p>

$1.2 Billion: California Motorists Spent Record Amount On Gas In July During Price Spike

August 6, 2015  ·  Mark Reback

<p>As gas prices slowly drop across the region, California motorists can take a sigh of relief after spending $1.2 billion more on gas than the rest of the nation in July, while refineries brought in record profits, according to Consumer Watchdog.</p> <p>The group, a nonprofit that advocates on behalf of consumer interests, said California drivers spent $201 more on gas last month than people in the rest of the country.</p>

Golden State Gouge: The Summer of Record Refining Profits

August 5, 2015  ·  Liza Tucker

In the six months since California’s record gasoline price spike began in February, Californians have paid $4.8 billion more than the rest of the country...

NextGen Climate Founder Tom Steyer Joins Consumer Watchdog In Call for Oil Company Accountability and Lays Out Initiative Framework

August 5, 2015  ·  Cody Rosenfield

<p><img class=" alignright size-full wp-image-2883" alt="" src="https://consumerwatchdog.org/wp-content/uploads/2015/08/jamie_court_tom_steyer_oil_press_conference_aug_5_2015_shot_4.png" style="width: 250px; height: 247px; float: right;" width="1200" height="1187" />NextGen Climate Founder and businessman Tom Steyer joined Consumer Watchdog today to release a new report on California oil refiner price gouging.

Billionaire Wants Oil Refiners To Disclose California Profit

August 5, 2015  ·  Mark Reback

<p>SANTA MONICA, Calif. (AP) — Billionaire environmentalist Tom Steyer called on California legislators Wednesday to require oil companies to disclose how much they make in profits from refining oil in the state.</p> <p>Steyer was joined by the nonprofit Consumer Watchdog in condemning what they called historic profits for oil refiners at the expense of consumers.</p>

Steyer To CA Politicians: Time To Act On Gas Prices

August 5, 2015  ·  Mark Reback

<p>Billionaire activist Tom Steyer wants the Legislature to fix what he calls California’s dysfunctional gasoline market, with drivers here paying $1 more for a gallon of regular than other Americans.</p> <p>And if the Legislature doesn’t act, Steyer may go to the voters with a ballot measure.</p>

Gas ‘Shortage’ Doesn’t Stop Exports From California

August 3, 2015  ·  Mark Reback

<p>On June 25, just one week before many California motorists began paying upwards of $4.30 per gallon for gasoline, the Bahamian-flagged tanker Teesta Spirit left Los Angeles headed for ports on the west coast of Mexico carrying more than 300,000 barrels of gasoline refined in California.</p> <p>The Teesta Spirit was just one of nine large tankers that left California ports carrying gasoline to places like Mexico and Chile between June 25 and July 23 at a time when oil companies were raising prices by as much as $1 per gallon in some regions.</p>

Valero Profit Rises On High Gas Prices

July 31, 2015  ·  Mark Reback

<p>California's sky-high gasoline prices translated into a big second-quarter profit for refiner Valero Energy Corp.</p> <p>The San Antonio company said operating income from its two California refineries soared to $295 million for the quarter that ended June 30, or more than 11 times the $24 million earned in the year-earlier quarter.</p> <p>Valero’s operations in California had a bigger year-over-year increase than any of the company’s other U.S. locations.</p>

Gas Being Exported From California Despite ‘Shortage’

July 27, 2015  ·  Mark Reback

<p>On June 25, just one week before many California motorists began paying upwards of $4.30 per gallon for gasoline, the Bahamian-flagged tanker Teesta Spirit left Los Angeles headed for ports on the west coast of Mexico carrying more 300,000 barrels of gasoline refined in California.</p> <p>The Teesta Spirit was just one of nine large tankers that left California ports carrying gasoline to places like Mexico and Chile between June 25 and July 23, at a time when oil companies were raising prices by as much as $1 per gallon in some regions.</p>