People Demonizing Fossil Fuels Companies Seem Upset They Refused To Cooperate In Hearing

If government officials and a whole bunch of other people were demonizing you and your company, would you be involved in their show trial?

‘Unconscionable’: California oil companies facing new tax are no-shows at gas price hearing

Are oil companies exploiting Californians to rake in record profits? How can state regulators stop refineries from shutting down for maintenance at the same time? What are the best approaches to prevent future gasoline price spikes in the Golden State?

As state regulators and legislators try to better understand what’s driving California’s high gas prices and weigh whether Gov. Gavin Newsom’s proposal to tax oil company profits could be the answer, one thing is clear: they need more information and data from the companies producing and distributing the gasoline.

It’s pretty easy: start with Econ 101 and The Law Of Supply And Demand. Add in the extreme taxes, fees, and regulations from the People’s Republik Of California. Look at the reduction of refineries, which make up about 50% of the price per gallon. It all ads up

The California Energy Commission pursued those questions at a Tuesday meeting where they heard from industry analysts. Commission members did not, however, get any help from the companies that produce more than 90% of the state’s gasoline.

Chevron, Marathon, PBF Energy, Phillips 66 and Valero — all declined to participate in the hearing. In letters to the commission, most said speaking publicly about their operations, maintenance and inventory levels would force them to divulge trade secrets. PBF Energy, however, added that “the politicization of this issue by Governor Newsom, heightened by the misleading information he released and commented on related to our (2022 3rd quarter) earnings, precludes us from participating in this hearing.”

According to PBF Energy’s Q3 financial report, the company’s profit jumped from $59.1 million last year to $1.06 billion this year — an increase of nearly 1700%.

Newsom called the reasoning by oil companies “pathetic” and vowed to “hold these companies accountable.”

This completely blows off the market forces, especially for an industry with such low profit margins. If Californians weren’t buying so much, there wouldn’t be these earnings.

“Every Californian deserves to know why we were being fleeced at the pump even as gas prices declined across the country and crude oil prices were going down,” Newsom said in a statement. “The oil industry had their chance today to explain why they made record profits at our expense but they chose to stonewall us.”

The companies have zero obligation to explain themselves to hostile government and entities who are looking to scapegoat the companies, especially since Newsom and the rest of the moonbats won’t listen or believe the explanations.

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12 Responses to “People Demonizing Fossil Fuels Companies Seem Upset They Refused To Cooperate In Hearing”

  1. H says:

    After Biden personally dug 1000s of new oil wells, gas prices have dropped from 5$ a gallon to 3.50
    They are expected to continue to fall perhaps hitting 3$ by the end of the year.
    Gas prices were $2.94 in Feb of 2021 when Biden took over.

    Trump openly booed at his last rally when he told his faithful to get vaccinated. Study showed in 2 states covid deaths were 76% Republican. The GOP lost 5000000 more voters than the Dems for the midterms This was posted on Drudge

    • CarolAnn says:

      Really? I didn’t see that. And exactly who paid for this so-called “study”?

      That’s a load of crap since they have no idea how one is registered or voted when they get their fake “vaccine”.

      BTW, unlike you with the exception of highly radical and partisan sites like BLM or Qanon we don’t believe it really matters where something is posted. Being posted on Drudge neither makes it true or false, reality or fiction.

      You leftists really need to start thinking about the shit you are fed.

  2. If the denizens of the Pyrite State don’t like fossil fuels and gasoline prices, thinking that the oil companies are gouging them, all the oil companies have to do is cease gasoline deliveries into the state for just three or four days. Let them eat solar.

  3. Dan says:

    Both sides are guilty. The state drives up costs with insane regulatory burdens which of course get passed along to consumers and the oil companies do everything possible to keep prices as high as they can to maximize profits. If that requires collusion so be it. If they have to shut down refineries on a made up excuse no problem. And Pedo Joe’s Executive Orders aren’t helping either.

  4. The Liberal but not libertarian Elwood P. Dowd says:

    Jacob Wallace, Paul Goldsmith-Pinkham, Jason L. Schwartz

    Political affiliation has emerged as a potential risk factor for COVID-19, amid evidence that Republican-leaning counties have had higher COVID-19 death rates than Democrat- leaning counties and evidence of a link between political party affiliation and vaccination views. This study constructs an individual-level dataset with political affiliation and excess death rates during the COVID-19 pandemic via a linkage of 2017 voter registration in Ohio and Florida to mortality data from 2018 to 2021. We estimate substantially higher excess death rates for registered Republicans when compared to registered Democrats, with almost all of the difference concentrated in the period after vaccines were widely available in our study states. Overall, the
    excess death rate for Republicans was 5.4 percentage points (pp), or 76%, higher than the excess death rate for Democrats. Post- vaccines, the excess death rate gap between Republicans and Democrats widened from 1.6 pp (22% of the Democrat excess death rate) to 10.4 pp (153% of the Democrat excess death rate). The gap in excess death rates between Republicans and Democrats is concentrated in counties with low vaccination rates and only materializes after vaccines became widely available.

    We had speculated the excess death rate associated with Red States was multifactorial – lower vaccination rates, greater obesity, poorer health care resources, older, less masking, more rural etc. The results in this paper support the hypothesis that it’s mostly about vaccinations.

    • L.G.Brandon!, L.G.Brandon! says:

      The results of that paper are pure partisan bullshit and were determined by the lying leftists that produced it before it was even written.

      Ever since you stole the 2020 election then refused to investigate it and continue to deny it we don’t believe a word you say.

      How many genders are there? Can a male become female? When is a human a human? How come we got Wuflu after we got vaccines? How did Wuflu spread to vaccinated people? Where did the virus come from, the supermarket or the virus lab?

      All you do is lie, make up shit, use excuses and look down on everyone who disagrees. You are the most hideous and hateful people since the Nazis.

      • drowningpuppies says:

        Say the line! Say it. SAY IT!!!

        I got Covid but thankfully I’m TRIPLE BOOSTED or it would have been much much worse…
        I could have been a REPUBLICAN!

        Bwaha! Lolgf

  5. drowningpuppies says:

    — Word Of The Day —

    Person who thinks a Covid vaccine actually works.
    (Interchangeable with DEMOCRAT.)

    Bwaha! Lolgf

    • L.G.Brandon!, L.G.Brandon! says:

      drowningpuppies, as in: Both H and dowd are vaxtards? Did I use it correctly in a sentence?

      Trump ’24, end the election fraud! Reinstate the Republic.

  6. drowningpuppies says:

    “When people are vaccinated they’re not going to get infected.”
    — Dr.(?)Anthony Fauci (NIAID Director)

    “You’re not going to get Covid if you have these vaccinations.”
    — Joe Biden (*POTUS)

    “Vaccinated people do not carry the virus and don’t get sick.”
    — Rochelle Walensky, MD (CDC Director)

    “There is no variant that escapes the protection of our vaccines.”
    — Albert Bourla (Pfizer CEO)

    Bwaha! Lolgf

  7. L.G.Brandon!, L.G.Brandon! says:

    A whole 90 sec vid showing all the lies the dopes on the left swear are true.


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