Tag Archive | "refining-operations"
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.
Continue reading...Fiorina Joins the Koch-heads. Ka-Ching!
Thursday, September 23, 2010
There’s a name that’s becoming as ubiquitous in dirty oil politics as Coke cans are in greasy spoons. And it’s pronounced like the soft drink, but spelled Koch. Koch-heads now on the radar include Carly Fiorina, the Tea Party and Proposition 23.
Continue reading...CEO Confession: Clean Air Wastes Profit
Wednesday, September 1, 2010
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 [...]
Continue reading...BP’s CEO Crisis Lurch (Again)
Tuesday, July 27, 2010
"When he abruptly resigned as chief executive of BP PLC [he] left the company in disarray. The giant energy producer was struggling with a legacy of accidents and spills in the U.S." Nope, that's not about the swift booting of Tony Hayward by the BP board on Tuesday. It's from a 2007 Bloomberg story on the last crisis change in leadership at BP.
Continue reading...Oil Prices Tipping the Economy. Again.
Monday, April 5, 2010
04-5-2010 by dugan Flash back to two years ago. Oil prices were nearing $120 a barrel and jamming up the price of food, gasoline, travel, almost everything we buy. In April 2008, energy analysts marveled, and worried, that the price of oil had doubled in only three years. Within a few months, oil prices [...]
Continue reading...Run From Guys With Clipboards
Friday, March 5, 2010
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 [...]
Continue reading...Good-news rumor on CA refinery
Wednesday, October 21, 2009
10-21-08 by dugan With oil prices going through the roof again (near $82 a barrel today), the economy is deeply at risk. But oil refineries are looking like better investments, because gasoline prices will follow. A business publication in India is reporting that the largest Indian oil refiner is thinking of buying several refineries, [...]
Continue reading...A Yogi Berra moment in oil prices
Friday, October 16, 2009
10-16-09 by dugan Oil prices hit another record for the year today, at over $78 dollars for each 42-gallon barrel in futures markets. That’s well over double the late 2008 low of 32 dollars a barrel. Here are the reasons given in various news stories: Dropping dollar, threats to Nigerian oil fields, a jump [...]
Continue reading...Goldman Sachs’ oil-rig loophole
Thursday, September 10, 2009
09-10-09 by dugan Who knew that investment giant Goldman Sachs was in the oil business? I’m picturing top execs earning their tens-of-millions bonuses in hard hats and oil-streaked yellow overalls. The news is part of an otherwise depressing Wall Street Journal story on how hard, and successfully, the financial industry is lobbying against regulations [...]
Continue reading...Who’s killing the U.S. dollar?
Friday, August 28, 2009
08-28-09 by dugan Did you hear the one about how the Bush administration used the wrong calculations last year when it declared that it wasn’t financial speculation causing the huge oil spike price? It’s one of many newsworthy punchlines of a strong new study that describes how government handed our energy markets over to [...]
Continue reading...Oil Price Spikes As Oil Profits Skid
Thursday, July 30, 2009
Oil Price Spike, As Exxon And Others’ Profit Skids, Shows Potential For New Economy-Killing Energy Roller Coaster, Says Consumer Watchdog Profit Reports Offer More Proof That Oil Prices Are Disconnected From Actual Petroleum CONTACT: Judy Dugan, July 30, 2009 Santa Monica, CA — On the same day that Exxon Mobil reported a second quarter profit [...]
Continue reading...Goldman Sachs’ oil revival
Monday, July 13, 2009
7-13-09 by dugan Investment bank Goldman Sachs is about to report an eye-popping profit increase, leaving the rest of the economy in the dust. That should remind us of Goldman’s key role in the energy-price bubble that brought us $4.11 a gallon gasoline last summer, and brought Goldman a black-gold rush of profits. It’s a [...]
Continue reading...Walk the walk on speculation
Tuesday, July 7, 2009
Gary Gensler made news today by repeating some earlier pledges to get speculative oil markets under control. He has to act soon. If oil prices can hit $70 a barrel in this economy, they'll shoot back up to $140 a barrel, with $4-a-gallon gasoline, at the slightest encouragement.
Continue reading...
- "Gas Pain" At Pump and Smokestack
- Study: Texas-Based Valero Gouging California Drivers For A Decade
- Why Is Gasoline Price Staying High?
- Taking on Koch Industries in Times Sq.
- Absolute Gasoline Price Record in 2011?
- Earl Richards: The oil corporations are similiar to a public util...
- panamalaw: Thanks for every other informative blog. Where el...
- Online Romance: I'm so very much happy for this cool blog article....
- Rob: I was not addressing speculation. I was addressing...
- Judy Dugan: Here is an authoritative study by Houston's James ...
Tuesday, October 12, 2010
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