Richmond California to Chevron’s $3 million campaign, loud and clear: NO THANKS!

[Editor: After Election Day on Nov. 4 , local and national news media covered the incredible David and Goliath story out of Richmond, California.  I will link to several here.  My favorite was the Rachel Maddow story about Richmond’s new Mayor, Tom Butt.  Apologies for the video’s commercial ad.  – RS]

RACHEL MADDOW:
Small victories, silver linings seen in lopsided election

COMMON DREAMS:
Voters Reject Oil Titan Chevron, Elect Progressive Bloc in Richmond, California
Tom Butt elected mayor and slate of progressive candidates all win city council seats after grim battle with corporate power  [MORE]

CONTRA COSTA TIMES
Anti-Chevron candidates sweep to victory in Richmond races
In a race that received national attention thanks to big money from Chevron, a slate of candidates on shoestring budgets swept their oil titan-backed opponents on Tuesday night in a resounding political defeat for the company and its campaign tactics.   [MORE]

COUNTERPUNCH:
Big Oil’s “Air War” Fails to Sink Richmond Progressives
Election day, 2014, was not ending well for Nat Bates, a mayoral candidate in this largely non-white city of 100,000 long dominated by Chevron.  [MORE]

BILL MOYERS / PETER DREIER
Corporate Triumphs, Progressive Victories and the Roadmap for a Democratic Revival
Tuesday’s Republican wave of election victories did not reflect public opinion or the public mood….One of the most significant victories occurred in Richmond, California, where progressives defeated a slate funded by Chevron, the nation’s third largest corporation, which poured at least $3 million (about $150 for each likely voter) into this municipal election in this working class Bay Area city of 105,000 people.  [MORE] Two more stories on BillMoyers.com:Bernie Sanders: Stand Up to Corporations Like Chevron” and “Chevron’s ‘Company Town’ Fights Back: An Interview with Gayle McLaughlin

 

Election results: Communities Across Nation Ban Fracking

Repost from Common Dreams

‘Just the Beginning’: Communities Across Nation Ban Fracking

In Ohio, California and Texas, voters took to ballots to say no to fracking, yes to communities’ health
By Andrea Germanos, November 5, 2014
Fracking ban supporters Margaret Moreales-Rebecchi with her husband Larry Rebecchi outside the Measure J office in Hollister, California. (Photo: Sarah Craig/Faces of Fracking/via flickr/cc)

Opponents of fracking scored a handful of victories Tuesday, with voters choosing bans on the extraction process in communities in Texas, Ohio and California.

One of these wins was in the birthplace of fracking—Denton, Texas.

The ordinance prohibiting fracking within the city limits passed 58.64% to 41.36%, making Denton the first city in the state to enact such a ban.

Bruce Baizel, Energy Program Director of the environmental organization Earthworks, said the vote for the ban in Denton was a victory not only for the city but for communities nationwide.

“Denton, Texas, is where hydraulic fracturing was invented. It’s home to more than 275 fracked wells. It’s a place that knows fracking perhaps better than any other. If this place in the heart of the oil and gas industry can’t live with fracking, then who can?” Baizel said in a press statement.

“The answer, at present, is ‘no one.’ That’s why fracking bans and moratoria are spreading like wildfire across the country,” he stated.

While welcoming what she said was a victory for families and public health, Cathy McMullen, President of Frack Free Denton, warned that legal challenges were likely on the way. “Oil and gas industry is going to try to use our own state government against us by directing its paid flunkies to overturn the ban in the legislature,” McMullen stated.

But the “ban is the voice of the citizens of Denton speaking directly to the fracking industry, and local, state and national government: We have had enough.” Pursuing a lawsuit would show that industry and government is “on the side of corporate interests and against the people.”

Athens, Ohio, one of four municipalities in the state where voters faced fracking bans, also saw a victory for opponents of the practice.

The ban, which comes via a Community Bill of Rights, passed overwhelmingly—78.28% to 21.72%.

Jeff Risner of the Athens Community Bill of Rights Committee, which put the measure on the ballot, told the Athens Messenger that the city’s ban, and its wide support, could catalyze other municipalities in the state to push forth with their own bans.

Voters dealt a blow to the fracking industry in California as well, where two counties voted for bans.

In San Benito County, Measure J got the support of almost 57% of voters—despite millions the energy industry spent to defeat it—and marks a victory environmental groups hope can be repeated in other municipalities in the state.

As in Athens, the ban in Mendocino County—which passed 67.18% to 32.82%—comes through a community bill of rights. San Francisco-based Global Exchange, which helped bring forth the measures, called it a historic and huge win.

Global Exchange’s Shannon Biggs, who organized the ballot effort stated: “With the passage of Measure S, residents in Mendocino County made history as the first California community to adopt a Community Bill of Rights, placing their rights above corporate interests. Residents see enactment of this ordinance as the first step in asserting their right to local self-government, and a rejection of the idea that their community will be a sacrifice zone for corporate profits.”

“This is just a beginning for the community rights movement in California,” Biggs stated.

Other fracking opponents say these Election Day victories show the start of a nationwide movement.

“The public tide is turning against fracking, not just in California but around the country,” stated Hollin Kretzmann of the Center for Biological Diversity. “As voters from San Benito to Denton, Texas, showed, if regulators won’t protect them from fracking pollution, local communities can and will use the ballot box to protect themselves.”

KQED Science: Election follow-ups on fracking and open space / smart growth

Repost from KQED Science
[Editor: Following election day, KQED public radio ran a pair of interesting stories.  – RS]

New California County Fracking Bans Likely to Face ChallengesKQED Science  | November 5, 2014
New California County Fracking Bans Likely to Face Challenges
Passage of two out of three local measures may just set the stage for next battle. Continue Reading

KQED Science  | November 5, 2014Bay Area Votes in Favor of Open Space and ‘Smart’ Growth
Bay Area Votes in Favor of Open Space and ‘Smart’ Growth
A local environmental group is declaring victories for open space preservation and smart growth in the Bay Area.  Continue Reading

Valero’s third-quarter net income tops $1.1 billion

Repost from The San Antonio Business Journal
[Editor: Significant quote:  “Valero should benefit from rising oil production from shale plays and the Canadian oil sands. However, the refining industry remains volatile and is susceptible to swings of weaker economic conditions, excess industry refining capacity, narrowing margins or reduced throughput rates and higher biofuel blending costs.”  – RS]

Valero’s third-quarter net income tops $1.1 billion

Nov 4, 2014, By James Aldridge
Valero
File photo of Valero Energy Corp.’s Corpus Christi refinery. The company reported earnings per share of $2 for the quarter ended Sept. 30, 2014. Analysts had expected EPS of $1.57 per share.

Valero Energy Corp. beat analyst expectations on Tuesday by reporting net income of $1.1 billion, or $2 per share, for the third quarter ended Sept. 30, 2014. This compares to net income of $312 million, or 57 cents per share, for the same quarter a year ago.

Analysts had been projecting San Antonio-based Valero (NYSE: VLO) to report earnings per share of $1.57 for the third quarter.

President and CEO Joe Gorder said the company’s financial results benefitted from wider discounts for sweet and sour crude oils relative to Brent crude oil, stronger gasoline margins in most of the regions where the company operates and higher refining throughput volumes.

During the quarter, Valero continues to expand capital investments in the company’s refining and logistics business, which gives it the ability to process more North American crude oil. Valero completed construction of a 70,000-barrel-per-day rail unloading facility at its Port Arthur refinery and received additional rail cars. The company also secured the option of purchasing a 50 percent interest in the planned Diamond Pipeline which, when completed, will connect Valero’s Memphis refinery to the crude oil hub in Cushing, Okla.

Analyst Stewart Glickman in her research report at S&P Capital IQ placed a hold recommendation on Valero’s stock. In the report, Valero should benefit from rising oil production from shale plays and the Canadian oil sands. However, the refining industry remains volatile and is susceptible to swings of weaker economic conditions, excess industry refining capacity, narrowing margins or reduced throughput rates and higher biofuel blending costs.

Additional details on the company’s financial performance can be found here.

For safe and healthy communities…