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California’s Lofty Perch on Gasoline Prices

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15. May 2012

California’s Lofty Perch on Gasoline Prices

California gasoline prices are still soaring, even as the rest of the nation sees falling pump prices. The reason is simple: Refiners control the supply.

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Blog Post

$4.00 Gas: It’s Not Just the Oil Price

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12. April 2011

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$4.00 Gas: It’s Not Just the Oil Price

Oil companies are making a fortune off of drivers with oil at $109 a barrel (which comes to $2.60 a gallon at 42 gallons per barrel). But they’re getting rich a second time refining the oil into gasoline.

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Press Release

Tesoro Banks On High Gas Prices In California, Touts “West Coast Premium”

CONTACT: , 310-392-0522 x315; or Doug Heller, x309

18. October 2010

Tesoro Banks On High Gas Prices In California, Touts “West Coast Premium”

Consumer Group Calls On Pension Funds to Divest From Prop 23 Backers Tesoro, Valero

Santa Monica, CA – Consumer advocates revealed an investor slide presentation by Texas-based oil company Tesoro explaining that oil refiners keep gasoline supplies especially tight on the West Coast to keep profits high through higher pump prices. The slides were included in a letter from Consumer Watchdog to California’s large public pension funds, known as CalPERS and CalSTRS, calling on the funds to divest from Tesoro and another refiner, Valero, which are the chief sponsors of Proposition 23 on the November ballot. The Investment Committee of CalPERS is meeting in Long Beach today.

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Press Release

Study: Texas-Based Valero Gouging California Drivers For A Decade

CONTACT: , 310-392-7051 or 213-280-0175; or Doug Heller, 310-392-0708

12. October 2010

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Study: Texas-Based Valero Gouging California Drivers For A Decade

Top Prop 23 Funder Doesn’t Want Greentech Competition To Get in Way of Profiteering

Santa Monica, CA – A new report by Consumer Watchdog’s OilWatchdog.org project finds that Valero Energy reaped over $4.5 billion in refining profit while gouging California motorists since it bought its second California refinery in 2002. The oil refining giant, which is also the largest funder of Proposition 23, averaged 37% higher margins on each barrel of oil it refined in California than at refineries it owns elsewhere in the country, according to data published in company financial reports.

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CEO Confession: Clean Air Wastes Profit

1. September 2010

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CEO Confession: Clean Air Wastes Profit

Right: Valero’s Amarillo refinery blast in February The chief funders of California’s anti-regulation Proposition 23 on the November ballot are a pair of Texas-based refiners, Valero and Tesoro. Each of them has two refineries in California and the last thing they want, from a profit standpoint, is regulation of greenhouse gases or any concerted attempt […]

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Blog Post

Run From Guys With Clipboards

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5. March 2010

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Run From Guys With Clipboards

3-5-10 by dugan   I guess its’s fitting that it took a New York newspaper to inform Californians that a couple of giant Texas oil refining companies are bankrolling a ballot initiative to kill the state’s popular climate change/green energy law. The whole saga is much like Oklahoma oilman T. Boone Pickens’ failed effort in […]

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News Clipping

Why CA Pays More For Gas

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24. September 2009

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Why CA Pays More For Gas

Why Californians Are Paying Even More For Gas By David R. Baker, THE SAN FRANCISCO CHRONICLE September 24, 2009 Californians usually pay more for gasoline than do other Americans. But not this much more. A gallon of regular now costs, on average, $3.14 in the Golden State. The national average is $2.54, according to the […]

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News Clipping

Holiday Travel Expected To Go Up

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19. May 2009

Lower Gas Prices Expected to Fuel More Memorial Day Travel By Staff Writers, CONVENIENCE STORE NEWS May 19, 2009 NEW YORK, NY — U.S. travel during the Memorial Day holiday this weekend will rise about 1.5 percent from last year as lower pump prices encourage vacationers, AAA said. The number of people traveling at least […]

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News Clipping

Tesoro Refinery Slow Down

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23. February 2009

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Tesoro Refinery Slow Down

Local Refinery Will Slow Or Stop For Repairs By George Avalos, INSIDE BAY AREA (CALIFORNIA) February 23, 2009  Tesoro Corp. has slowed production on a hydrocracker unit at the company’s Golden Eagle Refinery in Martinez in a move that stoked a new debate over gasoline prices that have risen while crude oil prices have plunged. […]

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Blog Post

Is Calif. getting lucky?

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17. September 2008

Is Calif. getting lucky?

9-17-08 by dugan California, usually at the top of the gasoline price pyramid, has lately been just below the national average of $3.85 a gallon, a near unheard-of situation. It’s partly about the wholesale-level gouging in other states following Hurricane Ike. But there’s more to the story, says OilWatchdog’s friend, Insider. He figures the West […]

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Blog Post

Oil-crash crystal ball

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28. July 2008

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Oil-crash crystal ball

7-28-08 by dugan Here’s a crystal ball report: The top four oil companies–Exxon, Shell, BP and Chevron–will all report record quarterly profits this week, a result of oil prices driven to the stratosphere in speculative markets. But our friend "Insider" says the recent drop in crude oil prices, to about $125 a barrel, is nothing […]

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News Clipping

Squeezed At Both Ends

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14. May 2008

Squeezed At Both Ends

Squeezed At Both Ends — Independent Refiners Watch Profits Sink As Consumption Falls By Jad Mouawad, THE NEW YORK TIMES May 14, 2008 While drivers are facing sticker shock at the pump these days, here is a bigger shock: high prices are putting a strain on oil refiners. After last year’s stellar profits, American refiners […]

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News Clipping

Small Profits for Gas Stations

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11. May 2008

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Small Profits for Gas Stations

Record Oil Company Earnings Haven’t Trickled Down to Gas Stations By Laura Hancock, DESERET NEWS (Utah) May 11, 2008 BOUNTIFUL, UT — During the first week in May, Doug Olson sold fuel at a loss. The co-owner of Slim Olson’s gas stations in Bountiful and Woods Cross charged customers $4.25 for a gallon of diesel […]

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