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News Story
3/20/2014
Posted by Mark Reback
Corporations often attract criticism for funding university research, but a study published Thursday argues these sometimes controversial deals produce more innovations than those subsidized with taxpayer money. Research from UC Berkeley found that corporate-sponsored inventions at the University of California system over 15 years generated...
News Story
5/20/2013
Posted by Mark Reback
Tesoro won U.S. and state clearance to buy BP's Carson refinery, Arco stations and other assets for $2.4 billion. Consumer advocates object. Tesoro Corp. won federal and state clearance for its purchase of BP's Carson refinery, Arco stations and other assets for $2.4 billion, an acquisition that would further concentrate the state's...
News Release
5/17/2013
Posted by Liza Tucker
SANTA MONICA, CA –A green light that Tesoro’s purchase of BP’s big refinery in Carson complies with anti-trust laws means over time gas prices will go up in the state, Consumer Watchdog said today.  The approval by the Federal Trade Commission and California Attorney General of Tesoro’s acquisition of BP’s Carson...
News Story
5/17/2013
Posted by Mark Reback
WASHINGTON/HOUSTON (Reuters) - Refiner Tesoro Corp. (TSO.N: Quote, Profile, Research, Stock Buzz) has received formal approval from antitrust regulators in Washington and Sacramento on Friday to buy BP Plc's (BP.L: Quote, Profile, Research, Stock Buzz) refinery and other assets in southern California for more than $2 billion. Tesoro will not...
News Story
3/24/2013
Posted by Mark Reback
Are you ready for $6-per-gallon gasoline? Then $7 a little later? Premium grades of gasoline already go for more than $5 per gallon in some parts of California; regular skyrocketed to above $4.50 for a month at hundreds of service stations. There is no promise these near-record price levels will drop anytime soon, especially with summer...
Blog Post
2/27/2013
Posted by Jamie Court
If you think the price you are paying at the pump today is too high, what do you think will happen if there are even fewer oil companies providing your gasoline? Consumer Watchdog has been working to stop the merger of BP and Tesoro in California -- which would leave two gasoline refiners controlling more than 50% of the gasoline market. That...
Blog Post
12/13/2012
Posted by Liza Tucker
Who would want two companies, Tesoro and Chevron, to control more than half of California's gasoline market? Only people, like oil company executives, who think paying five dollars a gallon should be the new normal. That could happen, though, if a deal goes through for Tesoro to buy BP's refinery in Carson and its low-cost Arco brand. In...
Blog Post
11/9/2012
Posted by Liza Tucker
As gas prices spiked in California last month to blow past even Hawaii’s highest-in-the-nation, the state’s refineries were exporting gas. That’s right, exporting, just like the rest of the nation’s refineries. According to the Energy Department, we are now net exporters of fuel for the first time since 1949. According to...
Blog Post
11/1/2012
Posted by Liza Tucker
If there’s one industry that has free rein in California, it’s the refinery business.  California doesn’t regulate supplies of gasoline, so refineries here only keep around ten days on hand, instead of the more than three week supply most refineries do in other states. We’ve only got 14 refineries here making gasoline...
News Story
10/22/2012
Posted by Mark Reback
For nearly two decades, Santosh Arya has pumped some of the San Diego area's cheapest gas at his three Homeland Petroleum stations. But his streak ended early this month, when wholesale prices started rising sharply, then shot up 40 cents a gallon overnight. To break even, Arya calculated he would have to sell a gallon of regular at $5.10...