Tag Archive | "speculation"

A Lot Less Fuming At The Gas Pump This Time

Saturday, April 7, 2012

Comments Off

Activist Jamie Court, president of Consumer Watchdog in Santa Monica, calls it capitulation. "After you get bonked on the head by $4 and $5 gasoline enough times, maybe it doesn't hurt as much," Court said.

Continue reading...

Wall Street Oil Speculators Hurt Families, U.S. Economy

Friday, October 14, 2011

4 Comments

Wall Street Oil Speculators Hurt Families, U.S. Economy

OilWatchdog and other critics of commodity speculation have long said that rampant speculation in oil futures markets  has hurt families, cost jobs and kept the U.S. economy teetering on the edge of recession. Energy analyst Marc Cooper of the Consumer Federation of America, in a nailed-down new study. finds that speculators are adding about $600 to […]

Continue reading...

Take Action on Gas Prices

Tuesday, September 20, 2011

3 Comments

Take Action on Gas Prices

Here’s a petition from our ally Public Citizen, calling on federal regulators to quit stalling and rein in the financial speculators who are jacking up gasoline prices. It’s well worth the few seconds to click on the link and sign the petition. Fight back against Goldman Sachs and the other big banks whose speculation costs […]

Continue reading...

Oil Drops 14%, Gas Only 3.4% – Fuel Prices Vary Significantly

Wednesday, August 31, 2011

0 Comments

"There's an old saying in [the] gasoline [industry]," Judy Dugan, research director for Consumer Watchdog in Santa Monica, Calif., said Monday. "Prices go up like a rocket and down like a feather. There is a higher disconnect between the actual price of oil and the price of gasoline." Gasoline prices have been viewed as the "last bastion of competition," Dugan said, "but in this case that appears to have failed." Still, gasoline prices in the state vary significantly.

Continue reading...

Gas Prices Keep Soaring As U.S. Fuels Other Countries’ Growth

Monday, April 11, 2011

6 Comments

Gas Prices Keep Soaring As U.S. Fuels Other Countries’ Growth

California-based nonprofit, Consumer Watchdog, recently provided a clue to where the "missing" gasoline may have gone. Recently, Judy Dugan, a petroleum market commentator for Consumer Watchdog, noted that the shares of oil refiners jumped in price last month "on bets that Japan would soon have to import a lot more heating oil and gasoline because of refinery fires and quake/ tsunami damage."

Continue reading...

Near Record High Gas Prices Not About Unrest In Middle East

Thursday, March 10, 2011

0 Comments

Consumer Watchdog's Jamie Court discusses why the spike in gas prices - especially in California - has nothing to do with civil unrest, and everything to do with profiteering.

Continue reading...

Why California Drivers Pay More For Gasoline

Wednesday, March 9, 2011

0 Comments

The new blends cost an estimated 5 to 15 cents more to make per gallon than standard-issue, regular gas. Plus, California became dependent on a limited number of refineries, and those refineries reaped higher profit margins than similar facilities elsewhere in the United States. "It's a stranded market, and it's much easier to control prices in a stranded market," said Judy Dugan, research director of the Consumer Watchdog nonprofit group.

Continue reading...

Consumer Watchdog Says Rising Gas Prices Are Form Of Highway Robbery

Wednesday, March 9, 2011

0 Comments

On KFMB-TV Channel 8 in San Diego, CA, Judy Dugan from Consumer Watchdog says rising gas prices are a form of highway robbery.

Continue reading...

Facts of Life On High Gas Prices: It’s the Speculators & Oil Companies To Blame Not Middle East

Tuesday, March 8, 2011

2 Comments

Facts of Life On High Gas Prices: It’s the Speculators & Oil Companies To Blame Not Middle East

While skirmishes in Libya and uncertainty in the Middlie East are nice cover for outrageous gasoline prices, the fact is the same old suspects are making a killing from sky-high gas prices approaching $4 dollars per gallon in California: big oil companies and greedy speculators.

Continue reading...

Glenn Beck is Raising Your Gasoline Prices

Tuesday, March 1, 2011

1 Comment

Glenn Beck is Raising Your Gasoline Prices

Ok, it’s not all Glenn Beck’s Fault that you’re paying $3.40 or $3.70 or even $4.00 a gallon at the pump. But his fear-based take on democracy movements in the Middle East (oh, the caliphate!) gives cover to the speculative traders who jack up oil and gasoline prices without a trace of supply and demand […]

Continue reading...

$4 Gas? Blame the Big-Bucks Lobby–and the White House

Tuesday, January 25, 2011

1 Comment

$4 Gas? Blame the Big-Bucks Lobby–and the White House

There aren’t many oil analysts who still deny that speculation, and the sheer volume of speculative trades in energy commodities, drives up the price of oil and gasoline. But there’s an army of financial and energy lobbyists still arguing that effective regulation of oil and other commodity trading will somehow destroy the financial industry and […]

Continue reading...

Will Gasoline Prices Crash the Economy? Again?

Tuesday, December 28, 2010

5 Comments

Will Gasoline Prices Crash the Economy? Again?

Monday's federal report on gasoline prices is a horror story. The national average price for a gallon of regular spiked seven cents to $3.05 in a week. That's an all-time record for this time of year--and for no good reason. Yet our federal regulators who could curb speculators are still sitting on their thumbs. I hope it's uncomfortable.

Continue reading...

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

Monday, October 18, 2010

0 Comments

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.

Continue reading...