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SB 1322 (Allen) Addresses Pain At The Pump

Fri, 06/24/2022 - 15:32
Posted in:
OIL $

Monday, in the Natural Resources Committee, California Assembly Members will have the opportunity to answer the top question on their constituents' minds: why is the price of California gasoline so high and how much are oil refiners making off every gallon of gasoline?

SB 1322 (Allen) requires the oil refiners to disclose monthly their refining profits --  the difference between average cost they pay for a barrel crude oil and the average price they charge for the finished barrel of gasoline, minus their expenses. With 42 gallons in a barrel, we will know exactly how much oil refiners make per gallon of gas in California.

Californians are paying $1.40 more gallon for their gasoline than the average US driver. Environmental costs add about 60 cents per gallon.  Consumers want to know where their money is going at the pump.

The oil industry is the only opponent of the measure and they argue speciously that this information will lead to market manipulation.  In fact, the Attorney General, which is currently prosecuting market manipulation in the oil industry, is in support of SB 1322.

Refining margins are typical industry measures. In fact, California refining margins are already published quarterly by two of California’s five oil refiners – so this is information that is already public.   PBF publishes refining profits from its San Francisco and LA refineries, which show that it made 78 cents per gallon on the gasoline it sold in the first quarter of 2022.  That’s double its profits last year and significantly more than it makes in other parts of the country. Valero also publishes its margins for its West Coast refineries, which are exclusively in California.  The other refiners publish Western regional margins. You can read about the refining profits reported by all California refiners in our review of the latest investor report here.

Californians deserve to know how much oil refiners are making off their pain at the pump. SB 1322 will allow the public, regulators and legislators to pinpoint periods of price gouging so they can better respond to it.

This may be the most important vote legislators will take for your constituents this year. 

There has been much media attention on the issue, as documented by the media digest below.

The Assembly recently launched a special committee to look into gas price gouging. Now is the moment for Assembly members to give the public, regulators and legislators the tools to do that.

Groups In Support of SB 1322: 
CALPIRG (California Public Interest Research Group)
SoCal 350 Climate Action
San Diego 350 Climate Action
Friends of the Earth US
Stand.earth
Sunflower Alliance
FracTracker Alliance
Food & Water Watch
Greenpeace USA
Public Watchdogs
California Nurses for Environmental Health and Justice
Center on Race, Poverty & the Environment

NEWS RELEASES:

Profit Reports Show Oil Refiners Are Gouging Californians; Profits Per Gallon Double
By Jamie Court - 5-11-22
https://consumerwatchdog.org/energy/profit-reports-show-oil-refiners-are-gouging-californians-profits-gallon-double

Legislation Requiring CA Oil Refiners To Disclose Their Profits Per Gallon Moves Forward
By Jamie Court – 4/27/22
https://www.consumerwatchdog.org/energy/legislation-requiring-ca-oil-refiners-disclose-their-profits-gallon-moves-forward

Legislation Targets Sky-High Gas Prices, Requires Oil Refiners To Disclose How Much They Make On Every Gallon Sold
By Jamie Court – 3-11-22
https://www.consumerwatchdog.org/energy/legislation-targets-sky-high-ca-gas-prices-requires-oil-refiners-disclose-how-much-they-make

Podcast:
https://soundcloud.com/consumerwatchdog/legislation-targets-sky-high-california-gas-prices

NEWS ARTICLES:

With No Relief From Sky-High Gas Prices In Sight, Oil and Gas Industry Oversight Legislation Moves Forward
By Marissa Endicott, SANTA ROSA PRESS-DEMOCRAT
May 18, 2022
https://consumerwatchdog.org/news-story/no-relief-sky-high-gas-prices-sight-oil-and-gas-industry-oversight-legislation-moves

California Focus: Doubt Removed; Oil Refiners Gouging Us
Column by Tom Elias, CHICO ENTERPRISE-RECORD
May 17, 2022
https://consumerwatchdog.org/news-story/california-focus-doubt-removed-oil-refiners-gouging-us

Consumer Watchdog Push Bill To Fight Price-Gouging At The Pump
By Staff Reports, KSRO 1350AM Sonoma County, CA
May 12, 2022
https://consumerwatchdog.org/news-story/consumer-watchdog-push-bill-fight-price-gouging-pump

Consumer Group Claims California Refineries Exploiting Ukraine Crisis
By JW August, THE TIMES OF SAN DIEGO
May 11, 2022
https://consumerwatchdog.org/news-story/consumer-group-claims-california-refineries-exploiting-ukraine-crisis

'Oil Refiners Exploited The Crisis': Report Shows Oil Refiners Are Gouging California Drivers
By Alexi Chidbachian, KTTV FOX TV-11 Los Angeles, CA
May 11, 2022
https://consumerwatchdog.org/news-story/oil-refiners-exploited-crisis-report-shows-oil-refiners-are-gouging-california-drivers

Californians Still Paying “Mystery Surcharge” With Gas Prices
On Monday, Californians Paid $1.60 More Per Gallon Than The National Average

By Morgan Rynor, KXTV ABC TV-10 Sacramento, CA
March 21, 2022
https://consumerwatchdog.org/news-story/californians-still-paying-mystery-surcharge-gas-prices

When Does The Pain At The Pump Mean Predatory Gas Pricing?
By Marissa Endicot, SANTA ROSA PRESS-DEMOCRAT
March 16, 2022
https://consumerwatchdog.org/news-story/when-does-pain-pump-mean-predatory-gas-pricing

Getting Answers: How Would Forcing Oil Companies To Publicly Disclose Profits Help Consumers?
By Staff Reporters, GOOD DAY SACRAMENTO, KOVR CBS TV-13, Sacramento, CA
March 16, 2022
https://consumerwatchdog.org/news-story/getting-answers-how-would-forcing-oil-companies-publicly-disclose-profits-help-consumers

Why California Gas Prices Are So High and Vary So Widely: ‘Mystery Surcharge’ and More
By Connor Sheets, LOS ANGELES TIMES
March 14, 2022
https://consumerwatchdog.org/news-story/why-california-gas-prices-are-so-high-and-vary-so-widely-mystery-surcharge-and-more

Bill Looks To 'Open Books' Of Oil Refineries
By Eliyahu Kamisher, MERCURY NEWS, EAST BAY TIMES, BAY AREA NEWS GROUP
March 11, 2022
https://consumerwatchdog.org/news-story/bill-looks-open-books-oil-refineries

Bill Seeks Profit Transparency From California Oil Refiners
By Kevin Smith, DAILY NEWS, ORANGE COUNTY REGISTER, LONG BEACH PRESS TELEGRAM, DAILY BREEZE, SAN GABRIEL VALLEY TRIBUNE
March 11, 2022
https://consumerwatchdog.org/news-story/bill-seeks-profit-transparency-california-oil-refiners

NEW BILL FORCES GAS REFINERIES TO DISCLOSE PROFITS
By Andrew Sheeler, SACRAMENTO BEE - CAPITOL ALERT
March 14, 2022
https://consumerwatchdog.org/news-story/new-bill-forces-gas-refineries-disclose-profits

New Bill Seeks to Make Oil Refiners’ Profits Very Transparent
By Nate Gartrell, THE EAST COUNTY GAZETTE
March 13, 2022
https://consumerwatchdog.org/news-story/new-bill-seeks-make-oil-refiners-profits-very-transparent

New Senate Bill Would Force California Refineries to Reveal Profits on Gasoline
By JW August, THE TIMES OF SAN DIEGO 
March 11, 2022
https://consumerwatchdog.org/news-story/new-senate-bill-would-force-california-refineries-reveal-profits-gasoline

California Lawmaker Wants To Reveal Monthly Oil Refinery Profits
By Sandra Endo and Kelli Johnson, KTTV FOX TV-11 Los Angeles, CA
March 11, 2022
https://consumerwatchdog.org/news-story/california-lawmaker-wants-reveal-monthly-oil-refinery-profits

Will California’s Fossil Fuel Industry Use the Ukraine War to Undermine Oil and Gas Legislation? Three Bills May Fall Victim To A New Push For More Oil Drilling
By Aaron Cantu, CAPITAL & MAIN
March 11, 2022
https://consumerwatchdog.org/news-story/will-californias-fossil-fuel-industry-use-ukraine-war-undermine-oil-and-gas-legislation

TV/RADIO CLIPS:

KABC ABC TV-7 Los Angeles, CA: Report Shows Big Oil Gouging At The CA Pump
5-12-22
https://consumerwatchdog.org/kabc-abc-tv-7-los-angeles-ca-report-shows-big-oil-gouging-ca-pump

KGO ABC TV-7 San Francisco, CA: California Getting Gouged By Big Oil Refiners
5-11-22
https://consumerwatchdog.org/energy/kgo-abc-tv-7-san-francisco-ca-california-getting-gouged-big-oil-refiners

KFMB CBS TV-8 San Diego, CA: Oil Refiners Double First Quarter Profits While Gouging Californians
5-11-22
https://consumerwatchdog.org/energy/kfmb-cbs-tv-8-san-diego-ca-oil-refiners-double-first-quarter-profits-while-gouging

KABC ABC TV-7 Los Angeles, CA: Report Shows Big Oil Gouging At The CA Pump
5-11-22
https://consumerwatchdog.org/kabc-abc-tv-7-los-angeles-ca-report-shows-big-oil-gouging-ca-pump

KXTV ABC TV-10 Sacramento, CA: Californians Are Getting Gouged By Oil Refiners At The Gas Pump
5-11-22
https://consumerwatchdog.org/energy/kxtv-abc-tv-10-sacramento-ca-californians-getting-gouged-oil-refiners-gas-pump

KGTV ABC TV-10 San Diego, CA: CA Getting Fleeced At The Pump By Big Oil
5-11-22
https://consumerwatchdog.org/energy/kgtv-abc-tv-10-san-diego-ca-ca-getting-fleeced-pump-big-oil

 KCRW 89.9FM NPR Santa Monica, CA: Californians Struggling To Afford Artificially High Gas Prices
5-12-22
https://consumerwatchdog.org/news-story/kcrw-899fm-npr-santa-monica-ca-californians-struggling-afford-artificially-high-gas

KNX 1070AM Los Angeles, CA: Oil Companies Gouging Californians
By Staff Reports, KNX 1070AM Los Angeles, CA
5-11-22
https://consumerwatchdog.org/news-story/knx-1070am-los-angeles-ca-oil-companies-gouging-californians

KFI 640AM Los Angeles, CA: Big Oil Treating CA Like An ATM
5-12-22
https://consumerwatchdog.org/news-story/kfi-640am-los-angeles-ca-big-oil-treating-ca-atm

KFBK 1530AM Sacramento, CA: Oil Refiners Double Profits By Price Gouging In CA
5-12-22
https://consumerwatchdog.org/news-story/kfbk-1530am-sacramento-ca-oil-refiners-double-profits-price-gouging-ca

KABC 790AM Los Angeles, CA: Here's Why You're Paying $6 A Gallon For Gas
By John Phillips, KABC 790AM Los Angeles, CA
5-11-22
https://consumerwatchdog.org/news-story/kabc-790am-los-angeles-ca-heres-why-youre-paying-6-gallon-gas

KOGO 600AM San Diego, CA: Big Oil Doubling Profits While Price Gouging
By Staff Reports, KOGO 600AM San Diego, CA
5-11-22
https://consumerwatchdog.org/news-story/kogo-600am-san-diego-ca-big-oil-doubling-profits-while-price-gouging

KGTV ABC TV-10 San Diego, CA: Big Oil Continues The Golden State Gouge
3-24-22
https://consumerwatchdog.org/energy/kgtv-abc-tv-10-san-diego-ca-big-oil-continues-golden-state-gouge

KFMB CBS TV-8 San Diego, CA: Big Oil Is Profiteering Off Californians At The Pump
3-22-22
https://consumerwatchdog.org/energy/kfmb-cbs-tv-8-san-diego-ca-big-oil-profiteering-californians-pump

KOVR CBS TV-13, Sacramento, CA: Consumer Advocates Demand Transparency On Oil Refiners’ Profits
3-17-22
https://consumerwatchdog.org/energy/kovr-cbs-tv-13-sacramento-ca-consumer-advocates-demand-transparency-oil-refiners-profits

KTTV FOX TV-11 Los Angeles, CA: Special Report On Record High CA Gas Prices
3-14-22
https://consumerwatchdog.org/energy/kttv-fox-tv-11-los-angeles-ca-special-report-record-high-ca-gas-prices

KFSN ABC TV-30 Fresno, CA: Golden State Drivers Are Being Gouged Says Consumer Watchdog
3-14-22
https://consumerwatchdog.org/energy/kfsn-abc-tv-30-fresno-ca-golden-state-drivers-are-being-gouged-says-consumer-watchdog

KOFY ABC TV-7 San Francisco, CA: Oil Refiners' Profits Targeted By New Bill
3-14-22
https://consumerwatchdog.org/energy/kofy-abc-tv-7-san-francisco-ca-oil-refiners-profits-targeted-new-bill

KABC TV-7 Los Angeles, CA: Drivers In California Are Being Gouged
3-11-22
https://consumerwatchdog.org/energy/kabc-tv-7-los-angeles-ca-drivers-california-are-being-gouged

KTTV FOX TV-11 Los Angeles, CA: New Proposed Legislation Targets Oil Refiners' Profiteering in CA
3-11-22
https://consumerwatchdog.org/energy/kttv-fox-tv-11-los-angeles-ca-new-proposed-legislation-targets-oil-refiners-profiteering-ca

KNX 1070 AM Los Angeles, CA: Consumer Watchdog Says Oil Refiners Need To Open Their Books
By Mike Simpson & Charles Feldman – IN DEPTH – KNX 1070 AM
March 18, 2022
https://consumerwatchdog.org/news-story/knx-1070-am-los-angeles-ca-consumer-watchdog-says-oil-refiners-need-open-their-books

KPFA 94.1FM SF Bay Area, CA: Gas Prices Surge
By Cat Brooks & Brian Edwards-Tiekert, UPFRONT – KPFA 94.1 FM 
March 15, 2022
https://consumerwatchdog.org/news-story/kpfa-941-fm-sf-bay-area-ca-gas-prices-surge

KCBS 740 AM San Francisco, CA: Big Oil Refiners Continue "The Golden State Gouge" at the Gas Pump
By Mike Dewald, KCBS 740 AM San Francisco, CA
March 14, 2022
https://consumerwatchdog.org/news-story/kcbs-740-am-san-francisco-ca-big-oil-refiners-continue-golden-state-gouge-gas-pump

KCRW 89.9 FM Santa Monica, CA: Proposed Legislation To Force Transparency On Big Oil Refiners
By Cherry Glazer, KCRW 89.9FM Santa Monica, CA
March 14, 2022
https://consumerwatchdog.org/news-story/kcrw-899-fm-santa-monica-ca-proposed-legislation-force-transparency-big-oil-refiners

KQED 88.5 FM San Francisco, CA: Californians Deserve Transparency By Oil Refiners
By Brian Watt, KQED 88.9 FM San Francisco, CA
March 14, 2022
https://consumerwatchdog.org/news-story/kqed-885-fm-san-francisco-ca-californians-deserve-transparency-oil-refiners

KPCC 89.3 FM SoCal Public Radio: Push For Transparency On Big Oil's Profits
By Staff Reporters, KPCC 89.3FM SoCal Public Radio
March 14, 2022
https://consumerwatchdog.org/news-story/kpcc-893-fm-socal-public-radio-push-transparency-big-oils-profit

KXJZ-FM Capitol Public Radio, Sacramento, CA: New Bill Aims To Force Oil Refiners To Open Books
By Staff Reporters, KXJZ-FM Capitol Public Radio, Sacramento, CA
March 14, 2022
https://consumerwatchdog.org/news-story/kxjz-fm-capitol-public-radio-sacramento-ca-new-bill-aims-force-oil-refiners-open-books

KNX 1070 AM Los Angeles, CA: Consumer Advocates Support New Proposed Bill To Rein In Oil Refiner Profiteering
By Margaret Carrero, KNX 1070 AM, Los Angeles, CA
March 11, 2022 - This clip ran 25 times from 3-11 to 3-13
https://consumerwatchdog.org/news-story/knx-1070-am-los-angeles-ca-consumer-advocates-support-new-proposed-bill-rein-oil-refiner

KGO 810 AM San Francisco, CA: Price Gouging At The Pump in CA?
By Nikki Medoro, KGO 810 AM San Francisco, CA
March 11, 2022
https://consumerwatchdog.org/news-story/kgo-810-am-san-francisco-ca-price-gouging-pump-ca

KNX 1070 AM Los Angeles, CA: Oil Refiners Are Laughing All The Way To The Bank
By Staff Reporters, KNX 1070 AM Los Angeles, CA
March 11, 2022 – This clip ran 24 times from 3-11 to 3-13
https://consumerwatchdog.org/news-story/knx-1070-am-los-angeles-ca-oil-refiners-are-laughing-all-way-bank

KCRW 89.9 FM Santa Monica, CA: What Can Be Done About High Gas Prices in CA?
By Madeline Brand, PRESS PLAY - KCRW 89.9FM Santa Monica, CA
March 9, 2022
https://consumerwatchdog.org/news-story/kcrw-899-fm-santa-monica-ca-what-can-be-done-about-high-gas-prices-ca

KCRW Press Play Site:https://www.kcrw.com/news/shows/press-play-with-madeleine-brand