Energy

Speculation Helping Keep Price of Oil Stratospheric

February 24, 2008  ·  Consumer Watchdog

As the price of oil jumped above $100 per barrel last week, pundits were falling over themselves to come up with explanations for the price spike. <p> Maybe it was that oil-refinery explosion in Texas, they said. Or maybe it's because...</p>

Oil Gushes Past $100

February 20, 2008  ·  Consumer Watchdog

<div class="postDetail"> <strong>The price of crude rises $4.51 to a closing record of $100.01 as commodities rally</strong> <div id="postContent"> <p> The petroleum world produced a record Tuesday, which was bad news for...</p> </div> </div>

Oil Price Tops $100, Increasing Concerns

February 20, 2008  ·  Consumer Watchdog

<div class="postDetail"> <strong>Higher costs feared for gas, other goods</strong> <div id="postContent"> <p> The price of crude oil closed above $100 a barrel for the first time yesterday, raising the specter of higher...</p> </div> </div>

Expect Record Gasoline Prices By Spring

February 14, 2008  ·  Consumer Watchdog

<div class="postDetail"> Gasoline prices, already up 72 cents a gallon over a year ago, are poised to go higher -- possibly shattering records. <div id="postContent"> <p> The federal Energy Information Administration on...</p> </div> </div>

“Real, for real politician”

February 8, 2008  ·  Consumer Watchdog

The governor tried to don his outsider mantle today when he chastised the legislature for trying to hold onto power by extending their terms with Prop 93. Voters kicked the bums out after an unproductive, if not devastating, legislative year and...

British Petroleum Sees Lower Profits than Other Oil Companies

February 7, 2008  ·  Consumer Watchdog

Despite lower profits, BP is seeing rise in stock price. <p> BP is often considered the least successful of Big Oil companies. It had the lowest profits of the major Big Oil companies last quarter. Indeed, with a $3 billion profit, it...</p>

Exxon Sets Profit Record: $40.6 Billion Last Year

February 2, 2008  ·  Consumer Watchdog

<div class="postDetail"> <p style="font-size: 11px"> <span style="font-weight: bold">The New York Times</span><br/> February 2, 2008 </p> <p style="font-size: 10px"> by JAD MOUAWAD </p> <div id="postContent"> <p> By...</p> </div> </div>

Exxon Sets Profit Record: $40.6 Billion Last Year

February 2, 2008  ·  Consumer Watchdog

<p class="source">The New York Times</p> <p>The backlash against the oil industry, which has periodically intensified as gasoline prices have risen in recent years, was predictably swift on Friday. One advocacy group, the Foundation for Taxpayer and Consumer Rights, called the profits ''unjustifiable.'' Some politicians said Congress should rescind the tax breaks awarded two years ago to encourage oil companies to increase their investments in the United States and raise domestic production. </p>

Chevron posts record $18.7 billion profit

February 2, 2008  ·  Consumer Watchdog

<div class="postDetail"> <p style="font-size: 11px"> <span style="font-weight: bold">The San Francisco Chronicle</span><br/> February 2, 2008 </p> <p style="font-size: 10px"> by David R. Baker, Chronicle Staff Writer </p> ...</div>

Chevron posts record $18.7 billion profit

February 2, 2008  ·  Consumer Watchdog

<p class="source">The San Francisco Chronicle</p> <p>Consumer advocates, meanwhile, argue that drivers are spending far too much. Regular gasoline now costs an average of $2.99 per gallon nationwide, 83 cents more than it did a year ago. "The major oil companies' incredible profits, boosted by multi-billion-dollar tax subsidies to the industry, are ultimately clobbering taxpayers," said Judy Dugan, research director for the Foundation for Taxpayer and Consumer Rights.</p>

Exxon and Chevron both see profits soar

February 2, 2008  ·  Consumer Watchdog

<div class="postDetail"> <p style="font-size: 11px"> <span style="font-weight: bold">Los Angeles Times</span><br/> February 2, 2008 </p> <p style="font-size: 10px"> by Elizabeth Douglass, Times Staff Writer </p> ...</div>

Exxon and Chevron both see profits soar

February 2, 2008  ·  Consumer Watchdog

<p class="source">Los Angeles Times</p> <p>Exxon's and Chevron's big profits "come at the cost of an economy tipping into recession," said Judy Dugan, research director for the Foundation for Taxpayer and Consumer Rights in Santa Monica. "While Exxon makes the largest corporate profit by any corporation ever, families pay $60 and more for a gas station fill-up." </p>