Energy

Record Exports Led To Higher California Gas Prices, Activists Say

June 10, 2015  ·  Mark Reback

<p>In December, one month before pump prices started soaring across California, a record amount of gasoline left West Coast refineries, to be sold elsewhere.</p> <p>Exports of finished gasoline from the West Coast hit an abrupt, all-time high of 2.7 million barrels in December, according to federal government data. The export surge came as California gasoline prices slid below $3 per gallon for the first time since 2010.</p>

Shareholders Endorse Google’s Course

June 3, 2015  ·  Mark Reback

<p><font style="font-size:1.2em;">Google shareholders on Wednesday endorsed the course set by the Internet titan, rejecting proposals to dilute its power structure and scrutinize investments in renewable energy.</font></p> <p><font style="font-size:1.2em;">Voting at the California-based company's annual shareholders meeting ended with the recommended slate of board members elected and passage of a company proposal to increase the potential number of C Class shares issued.</font></p>

Gasoline Price-Gouging Evidence Grows

June 1, 2015  ·  Mark Reback

<p>Just about two years ago, when gasoline prices in most of California last moved well above the $4-per-gallon level, crude oil cost $147 a barrel. Oil companies said the high price of crude was a major factor in that price spike.</p> <p>This spring, when gas pump prices again jumped above $4 in many places, crude oil fell under $50 per barrel for awhile before recovering a bit to around $60 near the end of May.</p>

Rising Gas Prices Aren’t Putting The Brakes On Car Travel For The Holiday Weekend, AAA Says

May 20, 2015  ·  Mark Reback

<p>Will rising gas prices put a U-turn in holiday<b> </b>travel plans?<br /> <br /> Not according to AAA, which expects 37 million Americans to travel during the Memorial Day weekend, the most since 2005. The group expects 2.31 million people in Southern California to hit the road.<br /> <br /> Driving, AAA says, will be the top choice for travelers nationwide as 9 out of 10 travelers, or 33 million people, will use a vehicle to get to their holiday destination.<br /> <br />

Price Gouge A Slick Move By Oil Companies

May 19, 2015  ·  Mark Reback

<div class="copy-paste-block"> <p class="Index-Tribune-Text_Nimrod">There is absolutely no doubt about a few facts surrounding the gasoline price surge Californians experienced in late winter and early spring.</p> <p class="Index-Tribune-Text_Nimrod">In March, California prices averaged 84 cents per gallon higher than the national average of $2.54 per gallon, rising to $3.38 after a wintertime dip.</p> <p class="Index-Tribune-Text_Nimrod">That meant Californians spent $34 million per day more for their gas that month than they would have in most other places.</p>

Tom Steyer Eyes New Oil Tax And Gas-Price Transparency

May 16, 2015  ·  Mark Reback

<p><strong>Billionaire Tom Steyer wants to tax extraction and require more transparency</strong></p> <p>ANAHEIM, CA -- Walthy Bay Area environmentalist Tom Steyer, who for weeks has been lambasting oil companies about gasoline prices, said Friday he was exploring another potential cudgel against the industry: ballot measures to tax oil extraction and require more public disclosure on pricing and supply.</p>

Labor Dispute At Tesoro Refinery Boosted Margins -CEO

May 8, 2015  ·  Mark Reback

<p style="">May 8 (Reuters) - A 52-day labor strike that led to a shutdown at Tesoro Corp's refinery in Martinez, California, helped boost the company's bottom line last quarter, the company's chief executive said on Friday, prompting cries that the state's gasoline market needs to be reformed.</p>

Gas Prices Rise 3 Weeks Straight. Are You Getting Gouged?

May 6, 2015  ·  Mark Reback

<h2 class="article-excerpt" itemprop="alternativeHeadline">Gas prices have increased for 21 consecutive days, and a consumer watchdog group says that greedy oil companies are gouging drivers filling up at the pump.</h2>

Refining Profits: How Californians Get Fleeced at the Pump

May 5, 2015  ·  Cody Rosenfield

This analysis, “Refining Profits,” looks at how oil refiners in California fared over the last decade in their refining operaDons and compared the companies’ refining...

Gas Prices Flatten, But Group Says Oil Companies Gouge Drivers

May 5, 2015  ·  Mark Reback

<p class="bodytext"><span id="default"><span id="MNGiSection">Gasoline prices in the Bay Area have flattened out after a recent price spike that prompted a consumer group to claim Tuesday that oil companies in California have taken advantage of the fuel markets to gouge consumers.</span></span></p>

How Oil Refiners’ Profits Are Surging With Gas Price Spikes

May 5, 2015  ·  Mark Reback

<p>A new report from<a href="http://www.consumerwatchdog.org/" target="_blank" rel="noopener"> Consumer Watchdog</a> confirms what Southland motorists have long suspected — oil refiners are drawing deep profits from gasoline price spikes.</p>

California Gasoline Imports Set To Rise, Experts Say

May 5, 2015  ·  Mark Reback

<p><span id="articleText"><span class="focusParagraph">May 5 (Reuters) - Shipments of gasoline that meets California's strict environmental standards are expected to rise in the coming weeks thanks to the start of summer driving season and ongoing repairs at a key refinery, experts said on Tuesday.</span></span></p> <p style=""><span id="articleText">The state is currently importing more than 40,000 barrels per day of gasoline by tanker vessel from other states and countries, said David Hackett, president of oil logistic company Stillwater Associates.</span></p>