Michael Finney covers a new report from Consumer Watchodg that confirms what California motorists have long suspected — oil refiners are drawing deep profits from gasoline price spikes. Tom Steyer & Jamie Court explain.
Consumer Watchdog President Jamie Court with radio host Norman Goldman discuss the reasons for the volatility of gas prices and how Californians have been paying extra to the big oil companies.
Business leader, philanthropist and climate activist Tom Steyer and Consumer Watchdog President Jamie Court asked California lawmakers to subpoena oil industry executives to explain why California’s gasoline market is structured for shortages and volatility.
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.
“We really need proper oversight of refineries in terms of ruling out price manipulation via shutdowns,” wrote Consumer Watchdog in two letters to state officials earlier this week.