Chevron Doubles 3rd Q Refining Profit to $2.5 Billion; New CA Transparency Law To Reveal Extent Of Big, Hidden Windfall Profits, According to Consumer Watchdog
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Friday, October 28, 2022
But consumers will only learn how much of Chevron's profit specifically came from California when a new state refiner transparency law kicks in, Consumer Watchdog said today.
Key Points:
- But consumers will only learn how much of Chevron's profit specifically came from California when a new state refiner transparency law kicks in, Consumer Watchdog said today.
- Chevron is the only one of California's five big oil refiners that does not report its per gallon profits from West Coast refining quarterly.
- "California's new refiner transparency law will pull the curtain back on Chevron's huge hidden windfall profits," said Liza Tucker, Energy and Environment director of Consumer Watchdog.
- Chevron posted a third-quarter net profit of $11.2 billion, almost doubling the $6.1 billion in the same quarter last year.