News Release
CONTACT CONTACT: Judy Dugan, (310) 392-0522, ext. 305; or cell 213-280-0175
Oil Production and Gasoline Refining Cuts Increase Odds of Future Price Spikes, Says Watchdog   Santa Monica, CA -- Shell’s 4th quarter loss of $2.8 billion, based on the lower value of its oil inventory, turns into a $4.8 billion quarterly profit and a $31.4 billon record yearly profit if those paper losses are excluded, said Consumer...
News Release
CONTACT CONTACT: Judy Dugan, 213-280-0175 (cell); or 310-392-0522, ext. 305
Corporate Cutbacks Now Likely to Generate Price Spikes Later As Economy Tries to Recover   Santa Monica, CA -- Conoco Phillips’ CEO today deflected questions on the company’s layoff plans, investment cutbacks and refineries, saying the company was hunkering down for a “significant multiyear recession.” If other oil...
News Release
CONTACT Contact: Jamie Court, 310 392-0522 ext. 327, or Judy Dugan, 213 280-0175 (cell)
Consumer Group Calls on Sen. Boxer, California Officials To Investigate at Facility Shell Previously Tried to Shut Down; Warns Gas Prices Could Spike (Santa Monica, CA)—Consumer Watchdog called for an investigation of a possible attempt by Shell Oil to shut down a Bakersfield refinery that is crucial to California's supply of diesel and...
News Release
CONTACT CONTACT:Judy Dugan, 213-280-0175 cell or 310-392-0522 x305; or Jamie Court, x327
Draft Report Accepts Industry Call for Ban on Temperature-Compensating Device, Denies Consumers Would Benefit From Any Remedy Santa Monica, CA -- A California Energy Commission (CEC) draft report on the "hot fuel" ripoff proves beyond doubt that consumers are unfairly treated at the pump, yet fails to recommend that the ripoff be fixed...
News Release
CONTACT CONTACT: Judy Dugan, 213-280-0175 (cell); or Jamie Court, 310-392-0522, ext. 327
Current Oil Price Breather Is Right Time for Action to Prevent Next Speculative Bubble, Says Group   Santa Monica, CA -- The oil industry’s third-quarter reports ended today with Chevron Corp, which more than doubled its profits to $7.9 billion while the U.S. and world economies slid toward recession, said Consumer Watchdog. Nearly $1.5...
News Release
CONTACT CONTACT: Judy Dugan, 213-280-0175 (cell); or Tim Hamilton, 360-495-4941
'Consumers Now Know Where Their Money Went'; Congress, White House Must Prevent a Repeat of Costly Energy Bubble Santa Monica, CA -- ExxonMobil's $14.8 billion third-quarter profit reports clears up one thing--now consumers now know where their money went, said Consumer Watchdog. Exxon’s mind-boggling profit is again the highest quarterly...
News Release
CONTACT CONTACT: Judy Dugan, 213-280-0175 (cell); or 310-392-0522, ext. 305
BP Profit, Including Inventory, More Than Doubles from Year Ago to Over $10 Billion on Spiking Oil Prices Santa Monica, CA -- BP, only number four of the five major oil companies, 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...
News Release
CONTACT CONTACT: Judy Dugan, 310-392-0522, ext. 305; or 213-280-0175 (cell)
$14 billion profit for the first three quarters is more than $7 billion above 2007, money that “went straight onto consumers’ crushing credit card debt,” says watchdog group.   Santa Monica, CA -- ConocoPhillips is the smallest of the Big Five Oil companies, but it made profits in the third quarter that match what giant...
Blog Post
posted by Doug Heller
This is 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 startling memo to its clients.  Let's start at the end: the rolling blackouts in California...
Blog Post
Posted by Mark Reback
It seems the extent of Governor Schwarzenegger's solution for Californians to help combat sky-high gas prices is... promoting more efficient use of gasoline. Gee thanks for the big idea, Arnold. It's not the first time Arnold has tried to appear "green", while staying the gasoline-powered course, not to mention the gov's attempts at...