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…
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Archive | Tag: profits
Press Release
Oil Price Spikes As Oil Profits Skid
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…
Blog Post
Big about-face on speculation
7-28-09 by dugan Last fall, the Bush administration said all that business with oil hitting $147 a barrel and gasoline at over $4.00 a gallon was just supply and demand at work. Today–big oops!…
Blog Post
Hot fuel fix rises from the dead
7-21-09 by dugan Is it hot out? Well, so’s your gasoline. You’re losing a few cents a gallon each time you fill up at the pump. And no, with today’s insulated underground tanks,…
Blog Post
Goldman Sachs’ oil revival
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…
Blog Post
Walk the walk on speculation
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.
Blog Post
Pickens is back for your bucks
06-30-09 by dugan I choked on my black-bean enchilada when an e-mail alert popped up about a new bill in the Senate. Oklahoma oil and natural gas billionaire T. Boone Pickens, who failed miserably last…
Blog Post
Reality check on oil prices
6-22-09 Nothing changed in the real world today–economy still shrinking, gasoline consumption near 10-year lows. But speculators who doubled the price of crude oil and sent prices at the pump shooting up got some kind…
Blog Post
Price roller coaster redux
06-09-09 by dugan Oil prices hitting close to $70 a barrel today are a speculator’s paradise. Their party, of course, is being paid for by consumers at the pump and struggling businesses. Gasoline is averaging…
Press Release
Gas Up While Demand Down
‘Optimism’ Is Driving Energy Prices, Consumers Will Suffer The Memorial Day Hangover, Says Consumer Watchdog Oil, Gas Prices Rising Again At Record Clip For Holiday, Despite Oversupply, Low Demand, Says Group Washington, D.C. — The…
Press Release
Exxon 1st Qtr Profit More Normal
Exxon Profit at 2003-04 Levels ‘Shows What Normal Looks Like,’ Says Consumer Group Santa Monica, CA — Exxon Mobil’s first quarter profit of $4.55 billion dollars is small only by comparison to the last six…
Blog Post
Dancing a contango with big oil
04-29-09 by dugan The poor little oil companies are reporting profits that are way down, though only in comparison to the last three record-busting years of picking consumers clean at the pump. But they’re making…
Blog Post
Costco ‘Hot Fuel’ fix, almost
4-20-09 by dugan Great news–the legal paper Daily Journal (subscription barrier) said Friday that the Costco chain, already know for consumer-friendliness, agreed to eliminate the "hot fuel" ripoff at its gasoline stations. Unlike every other…