Energy

The Players Club

November 3, 2008  ·  Judy Dugan

<p> Politics has long been the playground of millionaires. This election, however, the billionaires have taken over the table. According to Judy Dugan, research director of the nonpartisan Consumer Watchdog in Santa Monica, T. Boone Pickens' company controls 70 percent of the compressed natural gas sold in the United States and would stand to make a fortune fueling the newly subsidized trucks and cars. </p>

Chevron Profit Soars, Fueled By Summer Surge In Oil Prices

November 1, 2008  ·  Consumer Watchdog

<strong>The energy giant nets $7.9 billion in the third quarter, the latest in the industry to post eye-popping earnings.</strong><br /> "These profits show the extent of the oil industry's vampire attack on a weakened economy," said Judy Dugan, research director of the nonprofit group Consumer Watchdog. "Fuel and energy prices bled away the reserves of family budgets and corporate treasuries. Energy inflation deepened the effect of the financial markets' meltdown."

Exxon Beats Own Record for Earnings in Quarter

October 31, 2008  ·  Consumer Watchdog

<strong>It posts net income of $14.83 billion, the biggest profit ever for a U.S. company, amid sky-high oil prices.</strong><br /> Judy Dugan, research director of Consumer Watchdog in Santa Monica, said: "Consumers got credit card debt and empty wallets, while Exxon got double-digit billions. Citizens deserve to be mad. They should demand that government get back in the business of protecting them from corporate greed."

Hefty Profits Leave Big Test for Oxy, BP

October 29, 2008  ·  Consumer Watchdog

<strong>Momentum Could Fade in the Wake of Crude's Steep Price Decline</strong><br /> Speaking specifically about BP, Santa Monica-based Consumer Watchdog said the British company "rode the wave of the crude oil price spike to a staggering profit jump in the third quarter of 2008. It is a stark reminder of the damage inflicted by energy costs on a world economy that was heading into recession."

Gas Stations Make More Pennies on the Gallon

October 16, 2008  ·  Consumer Watchdog

Gasoline prices also may get an artificial boost from oil companies cutting their output, said Judy Dugan, research director for Consumer Watchdog, a California non-profit group. "They are trying to drop supplies to keep the price supported," she said. "Nobody can say what the future will bring, but the fact is that gasoline ought to be coming down almost as fast as oil, particularly with the drops in consumption we've seen."

Out To Pickens Our Pockets

October 3, 2008  ·  Consumer Watchdog

<strong>Prop. 10 -- Lots Wrong With Billionaire's Energy Measure</strong><br /> There's something for everyone to object to in Proposition 10. Groups as varied as unions, anti-tax organizations, consumer watchdogs, environmentalists and chambers of commerce oppose the so-called Alternative Fuel Vehicles and Renewable Energy Bonds Initiative.

Economist says banks could be scheming for a bailout

September 26, 2008  ·  Consumer Watchdog

Economist David K. Levine says: "I suspect that part of what we're seeing in the freezing up of lending markets is strategic behavior on the part of big financial players who stand to benefit from the bailout."

Oil Prices Jump, Partly From ‘Short Squeeze’

September 23, 2008  ·  Consumer Watchdog

The price of oil jumped $16.37 to $120.92 per barrel Monday, its biggest single-day gain ever, as investors spooked by the financial crisis sought a safe place to put their money. That the price of such a vital commodity could leap so high because of trading issues infuriated people who believe speculators play far too big a role in the energy market. "No war threat, pipeline leak, ship wreck - nothing, yet up goes oil nearly $25 a barrel," said Tim Hamilton, a petroleum industry consultant who works with the consumer rights group Consumer Watchdog. "Perhaps speculation is a greater factor than actual supply and demand."

Wall Street threats replay economic blackmail of 2001 California Energy Crisis

September 23, 2008  ·  Consumer Watchdog

<p> A cautionary tale as bailout fever takes hold: On January 18, 2001, as electricity deregulation sunk California into its second consecutive day of rolling blackouts, a team of analysts at Credit Suisse First Boston in New York sent around a <a href="https://consumerwatchdog.org/wp-content/uploads/2008/09/images_creditsuisse.gif" target="_blank" rel="noopener">startling memo</a> to its clients.  </p>

Stem call agency stumbles over quorums again

September 23, 2008  ·  Consumer Watchdog

<p> Two <a href="http://www.cirm.ca.gov" target="_blank" rel="noopener">California stem cell agency</a> subcommittees meeting Friday and Saturday faced an ongoing problem -- mustering enough members for a quorum.<br/> <br/> In a particular irony the ...</p>

Paulson’s old school ties

September 23, 2008  ·  Consumer Watchdog

<p> Treasury Secretary Henry Paulson balked at modest proposals by Congress over the weekend to protect taxpayers' investment if they approve a $700 billion bailout of the financial services industry. A proposal by Democratic leaders, ... </p>

Self-Serving Prop. 10 Sounds Good, Should Lose

September 11, 2008  ·  Consumer Watchdog

It's never hard to find self-serving propositions on the California ballot. But there has never been anything quite like this fall's Proposition 10, even in a state that has seen the tobacco industry run initiatives aiming to kill municipal restrictions on smoking and watched power companies put hundreds of millions of dollars behind measures they figured would bring them tens of billions.<br />