Tag Archive | "speculation"

Senate Lawmakers to Hold Hearings on Possible Refinery Manipulation of Gas Prices Via Shutdowns and Slowdowns, Answering Call from Consumer Watchdog

Friday, February 27, 2015

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Senate Lawmakers to Hold Hearings on Possible Refinery Manipulation of Gas Prices Via Shutdowns and Slowdowns, Answering Call from Consumer Watchdog

California Gas Prices Up 70 Cents a Gallon at Pump Since February 1 Santa Monica, CA -- Consumer Watchdog said it looked forward to working with Senate lawmakers who today set hearings for March on possible refinery price manipulation, as the group had requested.

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ALERT: CA Refinery Profits Fatten On 60-Cent Gas Price Spike Since Shutdowns and Slowdowns

Wednesday, February 25, 2015

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ALERT: CA Refinery Profits Fatten On 60-Cent Gas Price Spike Since Shutdowns and Slowdowns

Santa Monica, CA—California refinery shutdowns and slowdowns are boosting refinery profit margins by as much as 72 percent, according to a key indicator called “crack spreads,” Consumer Watchdog said today.

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ALERT: California Gas Prices Up More Than 50 Cents Since Tesoro Martinez Refinery Shutdown, Consumer Watchdog Calls For Legislative Hearings into Price Manipulation

Monday, February 23, 2015

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ALERT: California Gas Prices Up More Than 50 Cents Since Tesoro Martinez Refinery Shutdown, Consumer Watchdog Calls For Legislative Hearings into Price Manipulation

Santa Monica, CA – Consumer Watchdog said today that the retail price per gallon of gas in California has soared 53 cents between February 2, when Tesoro began shutting down its refinery in Martinez, through today. A regular gallon of California gasoline now costs an average of $2.96 a gallon.

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ALERT: Los Angeles Gas Spot Price Rises A Quarter Since Tuesday’s Refinery Fire, Consumer Watchdog Continues Call For Investigation Into Price Manipulation

Friday, February 20, 2015

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ALERT: Los Angeles Gas Spot Price Rises A Quarter Since Tuesday’s Refinery Fire, Consumer Watchdog Continues Call For Investigation Into Price Manipulation

Santa Monica, CA – Consumer Watchdog announced today that spot gas prices in Los Angeles have risen 25 cents since Tuesday when an explosion rocked Exxon’s Torrance refinery, according to the Energy Information Administration. Paired with Tesoro’s Martinez facility that is also shut down, 16.5% of California’s refinery capacity is affected.

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Price Of Gas Up A Dime, State Investigators Still Mum On Consumer Watchdog Request To Rule Out Refinery Price Manipulation

Thursday, February 19, 2015

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Price Of Gas Up A Dime, State Investigators Still Mum On Consumer Watchdog Request To Rule Out Refinery Price Manipulation

Santa Monica, CA -- Consumer Watchdog said today that the spot price of gas leapt a dime overnight, as the group had predicted in the wake of two refinery shutdowns affecting 16 percent of the state’s refining capacity.

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Something Stinks and It’s Refineries

Wednesday, February 18, 2015

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Something Stinks and It’s Refineries

Today’s explosion at the Torrance refinery couldn’t come at a better time—for refiners interested in driving up the price of gas. That’s why we are calling for the California Attorney General, Governor, and lawmakers to step in. We want the Attorney General to send in some boots on the ground to rule out any price manipulation by Tesoro when it shut down its Martinez refinery. We also want to know what first caused Exxon to tell one observer that its Torrance refinery would be offline for two weeks due to a mechanical problem, and then what caused an explosion at the refinery today.

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Two Refineries Down, Gas Prices Up: Consumer Watchdog Calls For On-Site Inspections To Investigate Price Manipulation

Wednesday, February 18, 2015

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Two Refineries Down, Gas Prices Up: Consumer Watchdog Calls For On-Site Inspections To Investigate Price Manipulation

Santa Monica, CA—Responding to a shutdown of two refineries that produce 16 percent of the state’s gasoline, Consumer Watchdog called on state officials to send independent inspectors to verify refinery claims that the shutdowns were really necessary.

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A Lot Less Fuming At The Gas Pump This Time

Saturday, April 7, 2012

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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.

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

Friday, October 14, 2011

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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 […]

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Take Action on Gas Prices

Tuesday, September 20, 2011

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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 […]

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

Wednesday, August 31, 2011

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"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.

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

Monday, April 11, 2011

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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."

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Near Record High Gas Prices Not About Unrest In Middle East

Thursday, March 10, 2011

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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.

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