Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (78957)	8/16/2006 11:45:51 AM
From: American Spirit	Read Replies (1) \| Respond to of 81568

CA Report Shows Gas Prices Driven By Unplanned Outages; Consumer Group Declares A Repeat of Energy Crisis & Says Schwarzenegger Should Not Be Soft On Refiners Santa Monica, CA -- Governor Schwarzenegger's California Energy Commission today found that gasoline refineries experienced about three times as many unplanned outages in the first six months of 2006 than in the same period during 2005 (175 vs. 58) and this drove the high price of gasoline in the state. The Foundation for Taxpayer and Consumer Rights criticized Governor Schwarzenegger for not making strong recommendations based on the Commission's findings that abnormally low gasoline production was the cause of the gas price spikes this Spring. "Oil companies are ripping off Californians in exactly the same way electricity profiteers did by artificially shorting the market," said FTCR president Jamie Court. "Governor Schwarzenegger's only plan seems to be to invite the oil companies to fundraisers. This governor needs to give back the more than $3 million he has received in contributions from the oil and energy sector and confront the fact that oil refiners are artificially shorting the market to drive up prices. Rome's burning and Schwarzenegger's in the smoking tent with Nero." FTCR criticized the findings of the report ( energy.ca.gov ) as a "white wash" even while the data shows oil companies made huge profits by intentionally making too little gasoline. The consumer group asked Schwarzenegger to return contributions he received from California oil refiners. Chevron Texaco, one of California's big refiners, is among one of Schwarzenegger's leading donors with $516,800 contributed to his committees. Chevron's former lobbyist was Schwarzenegger's former chief of staff. "How do you justify running the most modern refiners in the US at the lowest rate of production in the country unless it is to create the highest price in the country?" asked FTCR petroleum analyst Tim Hamilton. * Because Republicans refuse to investigate gas and energy gouging beyond token measures, one of the few investigations here did find fraud. And of course the fraud in 2000-2001 by all of Bush-Cheney's best corporate pals was proven and outrageous. For you to think these practices have not stopped as energy prices hit record levels is both dishonest and harmful to the nation. You are basically trying to cover up for major league criminals, maybe the biggest criminals in history, all wearing suits and ties and sitting in board rooms, private jets and limos.