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Thread: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

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    Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    R
    eport: Bay Area Refineries Faked Outages, SpikedGasoline Prices

    Bay Area refinerieslied about being out of production in May and October, according to a report.


    By Chris Roberts

    | Thursday, Nov 15, 2012

    Bay Area oilrefineries in Richmond and Martinez are to blame for the spike in gasolineprices in May and October, according to a report released in Washington onThursday.


    Both Royal DutchShell in Martinez and Chevron in Richmond claimed to be out of service duringperiods in May and October. Gas prices spiked accordingly. But environmentalresearch reveals both refineries were producing gasoline at full capacity,contrary to what the public was told, according to McClatchy newspapers.

    Environmentaldocuments reveal nitrogen oxide emissions -- evidence of gasoline production --were normal during both periods, the newspaper chain reported.



    Gasoline inventorieswere building during "a time in which West Coast motorists" werepaying "at least 50 cents more per gallon than the national average,"the newspaper reported.

    Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices | NBC Bay Area
    How do they loot your wealth? They cut the supply to raise the price while inventories were building.

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    Re: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    A company doing something highly unethical to turn a profit? Shocking I tell ya!

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    Re: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    So left coast liberals had to pay more for gas. Isnt that the idea?

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    Re: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    I hope people end up going to jail if this turns out to be true.

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    Re: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    this kind of **** goes on all the time with other products as well. Look at the price of rolling papers. Bugler papers cost more than tabacco. I remember when they were five cents a pack now they are two dollars a pack.

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    Re: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    Quote Originally Posted by LiberalAvenger View Post
    this kind of **** goes on all the time with other products as well. Look at the price of rolling papers. Bugler papers cost more than tabacco. I remember when they were five cents a pack now they are two dollars a pack.
    You do know thats because the government now classify them as a tobacco product and tax them accordingly?
    Want to blame someone for that particular item, blame government.

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    Re: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    I'm really, really, skeptical of this. I'd be stunned if they idled their refinery in pursuit of some nefarious and very temporary price lift to the crude basket, and more pointedly to one localized market. There is little reason for them to do this and so many reasons why not to. Their explanation:

    "Kayla Macke, a Shell spokeswoman, said the McCullough report was “in error” and had confused a company statement that a unit at the Martinez refinery was shut down, when the rest of the refinery had continued to operate.

    “Our goal is always to run as much as we can as safely as we can,” Macke said.

    Chevron Corp.'s Richmond refinery in the Bay Area is California's second-biggest producer of gasoline and diesel."

    At present I'm willing to accept that. Miscommunication and misunderstanding seems more likely than conspiracy.

    Consumer advocates say refineries may have falsified information - latimes.com

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    Re: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    Quote Originally Posted by OpportunityCost View Post
    You do know thats because the government now classify them as a tobacco product and tax them accordingly?
    Want to blame someone for that particular item, blame government.
    Thanks I did not know that. ****ing government!

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    Re: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    Quote Originally Posted by Sherman123 View Post
    I'm really, really, skeptical of this. I'd be stunned if they idled their refinery in pursuit of some nefarious and very temporary price lift to the crude basket, and more pointedly to one localized market. There is little reason for them to do this and so many reasons why not to. Their explanation:

    "Kayla Macke, a Shell spokeswoman, said the McCullough report was “in error” and had confused a company statement that a unit at the Martinez refinery was shut down, when the rest of the refinery had continued to operate.

    “Our goal is always to run as much as we can as safely as we can,” Macke said.

    Chevron Corp.'s Richmond refinery in the Bay Area is California's second-biggest producer of gasoline and diesel."

    At present I'm willing to accept that. Miscommunication and misunderstanding seems more likely than conspiracy.

    Consumer advocates say refineries may have falsified information - latimes.com
    There is a lot of "miscommunication and misunderstanding" going on then. This is hardly the only example of supposed comments from companies or influential people, rumors, un-specified sources and so on that have massive impact on markets. Add to that out right speculation and you have one hell of a volitile market.. we have seen it in Europe, we have seen it in the commodities markets and even for individual companies.
    PeteEU

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    Re: Report: Bay Area Refineries Faked Outages, Spiked Gasoline Prices

    Quote Originally Posted by Sherman123 View Post
    Their explanation:

    "Kayla Macke, a Shell spokeswoman, said the McCullough report was “in error” and had confused a company statement that a unit at the Martinez refinery was shut down, when the rest of the refinery had continued to operate.

    “Our goal is always to run as much as we can as safely as we can,” Macke said.
    Yes, not only was the refinary not closed (so no surprise there was still emissions), but also closing of the unit was a safety measure, & wasnt responsible for the price spike, so the whole "story" is flawed.

    I also noted in many reports that McCullough is a "bedroom activist" & not an expert in the field, working remotely with no original data.

    It appears this is only getting minor coverage because its been highjacked to push unrelated political matters.

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