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News Release
CONTACT By Judy Dugan, 213-280-0175; or Jamie Court, 310-392-0522, x327, or 310-874-9989
Yearly 2008 Profit Total for Big Five Oil Companies Still Hits $114 Billion, Picking Consumer Pockets Around the World Santa Monica, CA -- BP, the third-largest of the major private oil companies, capped off yearly Big Oil profit reports with a 4th quarter whimper in part because of payouts from a 2005 refinery disaster. Yet without the...
News Release
CONTACT Judy Dugan, cell: 213-280-0175, or 310-392-0522, x305; or Jamie Court, x327
Yearly Profits of Oil Industry Will Nearly Equal Treasury Cost of Federal Economic Stimulus Package Santa Monica, CA -- The record run of 2007 oil profits, which came as the U.S. economy slid into recession and consumer debt soared, portrays an industry run amok, said the Foundation for Taxpayer and Consumer Rights. Shell, world's second-largest...
News Release
CONTACT Judy Dugan, 310-392-0522, ext. 305; or Jamie Court, ext. 327
Pump Price up a Nickel in a Week, Boosting Refinery Profits Even as Economists See Recession Looming Santa Monica, CA -- A weekly national increase of more than a nickel a gallon for regular gasoline has motorists paying a "speculative bonus" to hedge fund traders and others who have kept the price of crude oil near $100 a barrel, said...
News Release
CONTACT Judy Dugan, 310-392-0522, ext. 305
Group Calls on Congress to Curb Wild Speculation in Energy Markets Speculators ginned up alarm over Nigerian gang violence, Pakistani unrest and shaky predictions on future OPEC capacity to drive crude oil prices to $100 a barrel without any evidence of imminent shortages, said the Foundation for Taxpayer and Consumer Rights Tuesday. With gasoline...
Blog Post
Jamie Court
Californians are paying more for gasoline than motorists anywhere in the nation and there's no good reason for it. That's what the California Energy Commission has said in weekly reports. But today, in a report responding to the Gov's call for an investigation into high gas prices, Schwarzenegger's Commission says it has to study the problem more...
Blog Post
Jamie Court & Carmen Balber
California's attorney general is subpoenaing oil executives over the high price of gasoline. Arnold Schwarzenegger is headed to the land of big oil, hat in hand, for a Houston fundraiser Monday featuring juicy checks and big steaks. California has consistently paid 50 cents more for gasoline than the rest of the US, but Schwarzenegger's not going...
News Release
CONTACT Jamie Court, Doug Heller & Tim Hamilton
Santa Monica, CA -- The Foundation for Taxpayer and Consumer Rights applauded the move today by California Attorney General Bill Lockyer to subpoena oil company executives and investigate gasoline price gouging allegations. Yesterday FTCR issued a report finding oil company profiteering caused the recent gasoline price spikes in California. The...
Blog Post
Jamie Court
Perhaps no issue affects more businesses in California now than the skyrocketing price of gasoline. But Arnold -- big business's biggest advocate -- has been remarkably silent on the inflation at the pump, which is being identified as one of the biggest job killers, stock killers and profit killers there is. The cause of the recent run-up is not...