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News Release
Posted by Jamie Court
Santa Monica, CA – California’s 4th largest oil refiner reported today that it made its highest profits ever on oil refining in California this summer. Consumer Watchdog said the investor reports prove that the state’s excessive gasoline prices, which were a dollar more than the US average this summer, were pure profit for the...
News Story
Posted by Mark Reback
California's sky-high gasoline prices translated into a big second-quarter profit for refiner Valero Energy Corp. 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. Valero’s...
News Release
Posted by Cody Rosenfield
Santa Monica, CA – Valero reported $294 million in second quarter California profits, more than ten times higher than the same quarter last year when the Texas refiner made $24 million. The most staggering increase came in per barrel profits. Last year the company made just 99 cents per barrel in California. This year that number reached $11...