Los Angeles, CA—Valero raked in $11.5 billion in 2022 profits, beating its $930 million for the previous year by a dozen times. However, Governor Newsom’s call for a special session in October to deal with price gouging appears to be having an impact on gouging in California as California-reported refinery margins were lower than any other region for the first time this year and in line with historic margins.
 

Los Angeles, CA -- A review of state conflict of interest forms shows that eight regulators managing the state’s oil and gas well approval and inspection process have hundreds of thousands of dollars invested in the oil companies they regulate.  One of the regulators is among the top three in command at the State’s Division of Oil, Gas, and Geothermal Resources (DOGGR).