As government scrutiny intensifies on ExxonMobil, the company is apparently getting out of the state. Exxon is reportedly selling its hobbled Torrance refinery in the wake of an investigation into management's responsibility for an explosion Feb.18 that endangered workers and the community.
News hit the gasoline market in California today via the Los Angeles Times that Exxon's Torrance refinery is not likely to get a waiver from air quality managment officials to restart anytime soon.
The prescription drug abuse epidemic has vaulted into the national presidential debate, most recently this week with a Hillary Clinton op-ed in the New Hampshire Union Leader. Clinton wrote about combating addiction, and called for a requirement that health care providers consult a prescription drug monitoring database before prescribing controlled substances.
The California Attorney General's office said they are now investigating unusual pricing strategies by oil refiners a week after Consumer Watchdog presented it with evidence that oil refiners were artificially manipulating gasoline prices by leveraging their branded gasoline station contracts.
At a meeting of the state commission charged with investigating gas price manipulation, Consumer Watchdog delivered an analysis showing that since the end of May California’s largest oil refiners have engaged in unprecedented price manipulation to keep California gasoline prices artificially high using their leverage over prices at their branded stations.
California Energy Commission data reveals that a recent and sustained 30 cents gap between what price oil refiners sell gas to their branded stations and the price they offered to independent stations is unprecedented statewide.
Over the last 16 years, the difference averaged three cents, according to a Consumer Watchdog analysis. Branded stations must buy gas at whatever price a refiner sets.