David O’Reilly, CEO of San Ramon-based Chevron, rode a third year of record profits (achieved on the backs of strapped motorists) to compensation totaling $31.6 millon for 2006, according to SEC filings this week. The…
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Archive | Tag: greed
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Big Oil U?
Two the world’s largest oil companies are planting their flag in two of America’s top universities in order to wash some dirty laundry. The terms of the two separate deals, between Stanford and Exxon, and…
Press Release
FTCR: UC Berkeley Must Avoid Stanford Mistake That Allowed Big Oil “Greenwashing”
NEWS RELEASE March 12, 2007 CONTACT: Jamie Court, 310-392-0522, ext. 327, or John M. Simpson, 310-292-1902 (cell) Stanford should make its research public immediately. Santa Monica, CA — UC Berkeley must not allow one of…
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Alaska Senator Calls CEO Liar
Alaska Senator Kim Elton has a searing response for Exxon CEO Rex Tillerson, who told Wall Street this week that doing business with Alaska was problematic because the state changed tax policies on the company….
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West Coast Refinery Profits Double
The San Francisco Chronicle reports: "Profit margins at California’s gasoline refineries are soaring. And they’re taking pump prices along for the ride. Refinery profit margins have more than doubled since last fall, according to one…
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The Editorial Not Seen in U.S. Papers
This editorial from the major daily Montreal Gazette gets it: Big Oil’s deliberate restriction of refinery capacity and gasoline stocks drives up the pump price and fills the bulging treasuries of the major oil companies….
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CEO’s Wall Street Magic Show
Exxon CEO Rex Tillerson went to Wall Street with the twin goals of promoting Exxon’s stock and letting the public and Congress feel Exxon is putting its profits back into energy production. Tillerson said Exxon…
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Pressure On The Pump
The Petroleum Marketing Association continues to insist it has not pressured the maker of the temperature-adjusted gasoline pump, Gilbarco Vedeer-Root, to keep its product out of the California market. Nonetheless the San Francisco Chronicle’s David…
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Coolant For The Hot Fuel Market?
The Kansas City Star reports that Americans may well have a way out of the $2.3 billion they overpay at the pump each year because of the "hot fuel" scam. In a nut shell, when…
Smoking Gun
Shell’s Refined Wisdom
Shell sold off another California refinery. This time its Wilmington plant to Tesoro Corp, making the San Antonio based refiner a major player in the West, particularly given its acquisition of 390 Shell and USA…
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Half Trillion Dollar Baby
Wall Street analysts have now pegged the worth of Exxon Mobil Corporation at one half trillion dollars. The $500 billion mark is based on this breakdown of Exxon’s wealth– crude oil production (45%), refined products…
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California Screaming, BP Dreamin’
West Coast motorists are paying 46 cents per gallon more for their gasoline for no apparent reason. Crude prices are less than same time last year. A Texas refinery is down, but California doesn’t its…
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Beyond Petroleum or Buying PR?
BP is supposed to represent the greening of the oil industry. The company’s recent investment in an alternative energy research center at Berkeley is supposed to be yet another demonstration of its commitment to moving…