From: Consumer Watchdog
1/4/2016 Posted by Cody Rosenfield
Consumer Watchdog President Jamie Court delivered this testimony and
slide presentation on December 16th, 2015, to the California Energy
Commission's Petroleum Market Advisory Committee in Sacramento. The
panel is charged with determining the causes of gasoline price
volatility.
Court lays out information compiled by Consumer Watchdog showing how
oil refiners share wholesale pricing data and used dark trades to dump
cheap gasoline to artificially raise gas prices across California. The
presentation shows how refiners have made record profits in 2015 due to
higher pump prices paid in the state.
Following the presentation, committee members Severin Borenstein,
James Sweeney, Amy Jaffe, Kathleen Foote & Dave Hackett ask
questions. MORE
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