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California Watchdog Group Accuses Refiners of Lying (TSO, BP, CVX, RDS-A)

24/7 Wall St.

When California gasoline prices topped $5 a gallon early last month, the state’s big refiners said they were performing maintenance at some of the plants and a couple were recovering from forced shutdowns due to fires. Now, a consumer advocacy group, Consumer Watchdog, has asked the state’s attorney general to launch a criminal investigation into the refiners’ words and deeds during that period.

In a letter to Attorney General Kamala Harris, Consumer Watchdog accuses the refiners of “running their refineries and building inventories even when they said they were performing maintenance.” The group also wants the attorney general to block the sale of BP PLC’s (NYSE: BP) Carson refinery to Tesoro Corp. (NYSE: TSO), saying “a California refining market that is already concentrated and uncompetitive will become a duopoly with Chevron and Tesoro controlling 54 percent of the market if the merger goes through.”

The consumer…

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SMIPP Ltd is a DG Independent Power Plant Private Joint Stock Company. 25-60 MW Gas Turbines Power Generators

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