CA’s Big 5 Oil Refiner Profits Top $26 Billion, $1 Per Gallon; Watchdog To Make Case For Profits Disclosure Bill And Windfall Profits Tax To Assembly Gas Pricing Committee

Los Angeles, CA— A review of California’s five big oil refiners’ investor reports from the second quarter shows unprecedented, windfall profits that top $1 per gallon.  
 
Consumer Watchdog reported that the state’s five big oil refiners, that make 97% of the gasoline in the state, made from three to ten times more in profits per gallon off of West Coast operations from April through June than they did in the same period last year.    
 

Watchdog Tells CA Assembly Select Committee State’s Pain at Pump Requires New Oversight, Excess Profits Tax, New Price-gouging Standards and Update to Anti-trust Laws

Los Angeles, CA -- Consumer Watchdog President Jamie Court called on the California Assembly Select Committee on Gasoline Supply and Pricing to look to the recent extreme profit taking by California’s consolidated oil refiners and consider the strongest possible responses, including taking back excess profits.

2nd Quarter Permits To Fix Oil Wells Skyrocket As Groups Urge Newsom To Mandate Plugging Old Leaky Wells To Protect Public Health

Los Angeles, CA — State approvals for permits to fix or deepen existing oil wells skyrocketed in the second quarter by 124% over the same time last year, Consumer Watchdog and FracTracker Alliance said today.  Some of the permit approvals by the California Geologic Energy Management Division (CalGEM) are for idle wells and wells that barely produce, and both types can leak deadly methane and other harmful pollutants.

The Observer: Proposed Law Requiring Oil Refiners To Disclose Profits Is Only First Step

Opinion Column by Jim Shields, THE WILLITS NEWS

July 2, 2022

https://www.willitsnews.com/2022/07/02/the-observer-proposed-law-requir…

As I reported to you last month, there’s a proposed law that would require oil refiners to disclose their per gallon profits on a monthly basis. The bill recently already passed out of the California Senate by a vote of 22-4.

KCBS TV-2 Los Angeles, CA: Legislation To Force Big Oil To Open Their Books Passes CA Legislature

Legislation Requiring Oil Refiners To Disclose Profits Per Gallon Monthly Clears CA Assembly Natural Resources Committee

Los Angeles, CA - A bill requiring oil refiners to disclose their per gallon profits monthly passed out of the California Assembly Natural Resources Committee by a vote of 8 - 3. The legislation has already passed out of the California Senate by a vote of 22 - 4.

58 California Legislators Have Taken Over $10,000 In 'Dirty Donations'

By Dan Bacher, INDYBAY

June 12, 2022

https://www.indybay.org/newsitems/2022/06/12/18850413.php

A May 2022 update to its Tracking the Dirty Dollars Project by Sierra Club California provides some clarity why California’s environmental policies don't live up to the “green” words of the state’s politicians. This update reveals that only 15 legislators have not received campaign contributions from polluters and their allies since January 1, 2021.

Bill Requiring Refiners To Disclose Monthly Profits Passes Out OF California Senate

By Ian Taylor, BUNKERSPOT

May 25, 2022

https://www.bunkerspot.com/americas/56310-americas-bill-requiring-refin…

SB 1322 (Allen) – a bill that would require oil refiners to disclose their profits on a monthly basis – has passed out of the California Senate by a vote of 22 to 4 and will now be heard in the California Assembly.

'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://www.foxla.com/news/oil-refiners-exploited-the-crisis-report-sho…

LOS ANGELES - A recent investor profits report shows that California oil refiners are gouging Californians as they earn more than double the number of other refiners.

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://gooddaysacramento.cbslocal.com/2022/03/16/mystery-gas-surcharge/

SACRAMENTO (CBS13) — Gas prices continue to skyrocket, and Sacramento and Modesto hit new all-time highs again on Wednesday.

As California gas prices continue to reach those record highs, frustration is growing from drivers.

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

Click here to listen to the audio of this radio broadcast segment.

CA State Senator Ben Allen and Consumer Watchdog unveiled new transparency legislation that would open the books on the big oil refiners who are profiteering at the gas pump right now. 

Newsom Proposes Gas Rebate As Prices Exceed $5/Gallon. Why So High?

By Amy Ta, produced by Brian Hardzinsk, KCRW 89.9FM - Press Play

March 9, 2022

https://www.kcrw.com/news/shows/press-play-with-madeleine-brand/oil-ukr…

A gallon of gas in California today averages $5.57, according to AAA, and that’s the highest in the nation. Governor Gavin Newsom on Tuesday proposed a rebate aiming to ease fuel costs, though details are scant. 

Consumer Watchdog Applauds Governor Newsom’s Energy Commission Report Taking on Gas Price Manipulation

Los Angeles, CA -- Consumer Watchdog said today that the California Energy Commission under Governor Gavin Newsom is finally taking steps to confront artificially high gasoline prices in California by acknowledging the role of oil refiners' supply and retail price manipulation in sky-high pump prices.