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October 31, 2010 | By Margot Roosevelt, Los Angeles Times
The Valero oil refinery sprawls over 140 acres beside the Port of Long Beach, a treeless tangle of steel pipes, smokestacks, boilers and storage tanks fenced in by chain link and razor wire. Austere and utilitarian, it seems an unlikely launching pad for a high-profile political revolt. But the sign in front of the Wilmington refinery, in bold black and red letters, says: "On November 2d, Vote Yes on Prop 23. " Bill Klesse, chief executive of Valero Energy Corp., the nation's biggest independent refiner and the principal backer of Proposition 23, has a simple explanation for why his San Antonio-based company has contributed more than $5 million to push the ballot initiative to suspend California's ambitious global warming law . "It's really an anti-fossil fuel law," he told Wall Street analysts on a recent conference call.
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BUSINESS
October 22, 2012 | By Ronald D. White
California gasoline prices have dropped by an average of 24.4 cents a gallon since hitting a record for the state on Oct. 9. But the decline hardly amounts to the relief from high prices that most motorists would love to see. Even with the drop in prices, the average cost of a gallon of gasoline in California is still a whopping 56.5 cents a gallon higher than the old record for Oct. 22, which was set last year, according to the AAA Fuel...
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CALIFORNIA | LOCAL
March 3, 2010 | By Margot Roosevelt
Two Texas-based refinery giants have pledged as much as $2 million to fund signature gathering for a ballot initiative to suspend California's landmark global warming law, according to Sacramento sources. The companies, Valero Energy Corp. and Tesoro Corp., own refineries in California that would be forced under the law to slash emissions of heat-trapping greenhouse gases. Campaign workers began collecting signatures Tuesday for the initiative, which would delay regulations to implement the nation's most comprehensive climate legislation until California's unemployment level drops to 5.5% for at least a year.
BUSINESS
October 22, 2012 | By Ronald D. White, Los Angeles Times
The decline in California gasoline prices has accelerated in recent days, fuel surveys show, but hardly amounts to the relief from record fuel costs that most motorists would like to see. The state average reached $4.432 for a gallon of self-serve regular gasoline, the Energy Department said Monday. That was a decline of 19.1 cents in one week, according to the agency's survey of service stations. The week before, the average slipped less than 4 cents a gallon after reaching a record $4.659.
BUSINESS
October 22, 2012 | By Ronald D. White
California gasoline prices have dropped by an average of 24.4 cents a gallon since hitting a record for the state on Oct. 9. But the decline hardly amounts to the relief from high prices that most motorists would love to see. Even with the drop in prices, the average cost of a gallon of gasoline in California is still a whopping 56.5 cents a gallon higher than the old record for Oct. 22, which was set last year, according to the AAA Fuel...
BUSINESS
October 13, 2010 | By Tom Hamburger and Kim Geiger, Los Angeles Times
Institutional investor groups concerned about corporate funding of political campaigns are expected to announce shareholder resolutions Wednesday that will challenge three energy firms making big-dollar contributions to halt California's landmark law limiting greenhouse gas emissions. The resolutions target Occidental Petroleum Corp., Valero Energy Corp. and Tesoro Corp., which have contributed to an $8-million campaign on behalf of Proposition 23, which would effectively repeal the state's stringent global warming rules.
BUSINESS
October 22, 2012 | By Ronald D. White, Los Angeles Times
The decline in California gasoline prices has accelerated in recent days, fuel surveys show, but hardly amounts to the relief from record fuel costs that most motorists would like to see. The state average reached $4.432 for a gallon of self-serve regular gasoline, the Energy Department said Monday. That was a decline of 19.1 cents in one week, according to the agency's survey of service stations. The week before, the average slipped less than 4 cents a gallon after reaching a record $4.659.
CALIFORNIA | LOCAL
October 15, 2010 | By Margot Roosevelt, Los Angeles Times
California clean technology companies, national environmental groups and wealthy conservationists are pouring money into a campaign to defeat Proposition 23 , a November ballot initiative that would suspend the state's global warming law. As of Thursday, opponents of Proposition 23 had raised $19.6 million , more than twice as much as supporters of the initiative, which is mainly funded by major oil refiners based in Texas, Kansas...
CALIFORNIA | LOCAL
November 4, 2010 | By Margot Roosevelt, Los Angeles Times
Proposition 23, the oil industry sponsored initiative to suspend California's greenhouse gas law , was touted early on by environmentalists as a "David vs. Goliath" battle. "Its our slingshot vs. their oily club," said Steve Maviglio, a spokesman for opponents. But in the end, Proposition 23 failed by a stunning 61% to 39%, giving heart to national environmental leaders and signaling the advent of new players in eco-politics: high-tech entrepreneurs, mainly based in Silicon Valley, who see clean energy as an economic investment.
CALIFORNIA | LOCAL
September 1, 2010 | By Margot Roosevelt, Los Angeles Times
Mayor Antonio Villaraigosa on Tuesday rebuked Valero Energy Corp. and Tesoro Corp., which operate refineries in Wilmington, for bankrolling a measure that would effectively scuttle the state's efforts to curb greenhouse gas emissions. "Go home, Texas oil companies," Villaraigosa urged at a news conference aimed at encouraging voters to oppose Proposition 23, a November ballot initiative to suspend California's 2006 climate change law until the state's unemployment rate drops.
BUSINESS
July 27, 2011 | Ronald D. White
Occidental Petroleum Corp. rode a wave of higher oil prices to a second-quarter profit of $1.82 billion, up 71% from the same period last year, the company said Tuesday. The Westwood oil exploration and production company was among the first in the industry to announce quarterly results, which included earnings per share of $2.23, compared with $1.31 a year earlier. The results beat Wall Street expectations of $2.17 a share, according to a survey of analysts by Thomson Reuters.
CALIFORNIA | LOCAL
November 4, 2010 | By Margot Roosevelt, Los Angeles Times
Proposition 23, the oil industry sponsored initiative to suspend California's greenhouse gas law , was touted early on by environmentalists as a "David vs. Goliath" battle. "Its our slingshot vs. their oily club," said Steve Maviglio, a spokesman for opponents. But in the end, Proposition 23 failed by a stunning 61% to 39%, giving heart to national environmental leaders and signaling the advent of new players in eco-politics: high-tech entrepreneurs, mainly based in Silicon Valley, who see clean energy as an economic investment.
OPINION
November 2, 2010
Pondering the vote Re "Pulling out all of the stops," Nov. 1 I still don't feel good about my choices for governor. I thought Jerry Brown was a disappointment the first time around. He had no problem with the fact that people were taxed out of their homes and tried to see to it that the condition continued by opposing Proposition 13. Meg Whitman really makes me nervous. Anyone who would spend more than $140 million to buy a job that pays a six-figure salary is probably not playing with a full deck of cards.
BUSINESS
October 31, 2010 | By Margot Roosevelt, Los Angeles Times
The Valero oil refinery sprawls over 140 acres beside the Port of Long Beach, a treeless tangle of steel pipes, smokestacks, boilers and storage tanks fenced in by chain link and razor wire. Austere and utilitarian, it seems an unlikely launching pad for a high-profile political revolt. But the sign in front of the Wilmington refinery, in bold black and red letters, says: "On November 2d, Vote Yes on Prop 23. " Bill Klesse, chief executive of Valero Energy Corp., the nation's biggest independent refiner and the principal backer of Proposition 23, has a simple explanation for why his San Antonio-based company has contributed more than $5 million to push the ballot initiative to suspend California's ambitious global warming law . "It's really an anti-fossil fuel law," he told Wall Street analysts on a recent conference call.
CALIFORNIA | LOCAL
October 15, 2010 | By Margot Roosevelt, Los Angeles Times
California clean technology companies, national environmental groups and wealthy conservationists are pouring money into a campaign to defeat Proposition 23 , a November ballot initiative that would suspend the state's global warming law. As of Thursday, opponents of Proposition 23 had raised $19.6 million , more than twice as much as supporters of the initiative, which is mainly funded by major oil refiners based in Texas, Kansas...
BUSINESS
October 13, 2010 | By Tom Hamburger and Kim Geiger, Los Angeles Times
Institutional investor groups concerned about corporate funding of political campaigns are expected to announce shareholder resolutions Wednesday that will challenge three energy firms making big-dollar contributions to halt California's landmark law limiting greenhouse gas emissions. The resolutions target Occidental Petroleum Corp., Valero Energy Corp. and Tesoro Corp., which have contributed to an $8-million campaign on behalf of Proposition 23, which would effectively repeal the state's stringent global warming rules.
OPINION
November 2, 2010
Pondering the vote Re "Pulling out all of the stops," Nov. 1 I still don't feel good about my choices for governor. I thought Jerry Brown was a disappointment the first time around. He had no problem with the fact that people were taxed out of their homes and tried to see to it that the condition continued by opposing Proposition 13. Meg Whitman really makes me nervous. Anyone who would spend more than $140 million to buy a job that pays a six-figure salary is probably not playing with a full deck of cards.
BUSINESS
March 22, 2001 | Bloomberg News
Valero Energy Corp., which produces about 10% of California's gasoline, said it will buy Newhall-based Huntway Refining Co. for about $78 million to gain refineries in Benicia and Wilmington. Huntway stockholders will get $1.90 a share, the companies said. Huntway shares rose 13 cents to close at $1.83 on the New York Stock Exchange. San Antonio-based Valero will retire Huntway's outstanding debt and cash out outstanding options, the companies said, without giving details.
CALIFORNIA | LOCAL
September 1, 2010 | By Margot Roosevelt, Los Angeles Times
Mayor Antonio Villaraigosa on Tuesday rebuked Valero Energy Corp. and Tesoro Corp., which operate refineries in Wilmington, for bankrolling a measure that would effectively scuttle the state's efforts to curb greenhouse gas emissions. "Go home, Texas oil companies," Villaraigosa urged at a news conference aimed at encouraging voters to oppose Proposition 23, a November ballot initiative to suspend California's 2006 climate change law until the state's unemployment rate drops.
CALIFORNIA | LOCAL
June 23, 2010 | By Margot Roosevelt, Los Angeles Times
California headed for a high-stakes battle over global warming Tuesday, as an oil industry-backed measure to suspend the state's aggressive climate-change law qualified for the November ballot. The fight will pit the state's powerful environmental organizations and clean-tech businesses against the oil and manufacturing industries. It also arrays many conservative political leaders, including the GOP nominee for governor, Meg Whitman, against Gov. Arnold Schwarzenegger, a fellow Republican who regards the global warming law as a key part of his legacy.
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