Energy

Golden State Gouge: The Summer of Record Refining Profits

August 5, 2015  ·  Liza Tucker

EXECUTIVE SUMMARY 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 for regular gasoline at the pump, according to a Consumer Watchdog analysis of state and federal…

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>

Consumer Advocates Call On Calif. Attorney General To Investigate Oil Industry

July 27, 2015  ·  Mark Reback

<div class="prose-body"> <p class="inaugural">Consumer advocates are asking California Attorney General Kamala Harris to look into record-high oil industry profits this year.</p>

California Consumer Advocates Complain About Record Oil Industry Profits

July 23, 2015  ·  Mark Reback

<p><a href="http://www.kpbs.org/news/2015/jul/23/california-consumer-advocates-complain-about-recor/">Click here to listen to the audio of this radio broadcast segment</a>.</p> <p>Consumer advocates said oil refineries are logging record profits as the state's drivers pay gas prices well above $4 a gallon.</p>

Gas Companies Accused Of Ripping Off California At The Pump

July 22, 2015  ·  Mark Reback

<p>As drivers in California continue to pay well over $4 per gallon at the pump, the state's oil refineries are raking in record profits, raising a few eyebrows.</p>

Two Associations Square Off On Higher Gas Prices

July 22, 2015  ·  Mark Reback

<div class="withRelated left" id="WNStoryBody"> <p>Frustrated with high gas prices? You're not alone. At a North Hills Mobil Station on the corner of Sepulveda and Nordhoff some drivers told us dealing with the higher prices is hard. One motorist said it cost him $100 bucks round trip to get to Anaheim. Another driver said, "I'm not gonna lie, it's a killer!"</p> <p>A couple of weeks ago, we were told the oil market was volatile, refinery problems and slow imports were to blame for a sudden spike in prices at the pump.</p>

Apple Music Draws Calls For Federal Probe

July 22, 2015  ·  Mark Reback

<p dir="ltr">A consumer group is asking federal regulators to look at whether Apple broke antitrust rules while establishing its new music service.</p>