Oil Companies Fiddle While America Burns, It's What Happens With Monopolies - In Spite of Cost, California Gasoline Consumption Up 2.7%, Diesel Up 1.4%

But First Snide's Remarks: This week, the world's six largest publicly traded oil companies reported a combined $38.1 billion in first-quarter profits. ExxonMobil made nearly $11 billion in the first three months of this year, a 69 percent improvement over the same period a year ago. Shell reported more than $6 billion net income for the quarter, a 22 percent gain over the same three month period last year. The big five oil companies BP, Chevron, ConocoPhillips, ExxonMobil, and Shell have reported their 2010 profits nearly doubled compared to 2009. Isnt it time to get pissed America?

SACRAMENTO, Calif.--Jerome E. Horton, Chairman of the California State Board of Equalization (BOE), today released California gasoline and diesel consumption figures for January 2011. California gasoline consumption was up 2.7 percent in January, and diesel consumption rose 1.4 percent, compared with last year.

"While gasoline consumption is up slightly, high prices are really hurting a lot of Californians," said Horton. "Every day, Californians see high gasoline prices which take a huge chunk out of their household budget. This is especially difficult for those who are not able to buy a fuel-efficient vehicle (which is irrelevant, as the additional cost of the vehicle counteracts any meaningful fuel savings...Hey Americans Big Oil with the co-operation and support of our politicians is screwing us) and have to commute long distances to get to work."

California's gasoline consumption increased 2.7 percent in January when Californians used 1.20 billion gallons of gasoline, compared to 1.17 billion gallons the same month last year. California's average price of gasoline rose 10.4 percent in January to $3.39 a gallon, up 32 cents compared to January last year when California gasoline prices averaged $3.07 per gallon. The U.S. average price for a gallon of gasoline jumped 13.7 percent in January to $3.15 per gallon, up 38 cents compared to a year earlier when the U.S. average price for gasoline was $2.77.

Diesel sold in California during January totaled 191 million gallons or 1.4 percent more than the previous January when Californian's used 189 million gallons. Diesel prices rose 56 cents higher to $3.56 per gallon in California during January, or 18.7 percent higher than the previous January when diesel was averaging $3.00 per gallon. The U.S. average price for a gallon of diesel rose 18.9 percent in January to $3.39 per gallon, up 54 cents compared to a year earlier when the U.S. average price for diesel was $2.85.

The California State Board of Equalization is able to monitor gallons through tax receipts paid by fuel distributors. The figures reported monthly are net consumption that includes Board of Equalization audit assessments, refunds, amended and late tax returns, and the California State Controller's Office refunds. Figures for February 2011 are scheduled to be available at the end of May 2011.

All monthly, quarterly, and annual figures can be viewed at: www.boe.ca.gov/sptaxprog/spftrpts.htm.

Taxable Gasoline Gallons: www.boe.ca.gov/sptaxprog/reports/MVF_10_Year_Report.pdf

Taxable Diesel Gallons: www.boe.ca.gov/sptaxprog/reports/Diesel_10_Year_Report.pdf

Elected in 2010, Chairman Jerome E. Horton is the Fourth District Member of the California State Board of Equalization, representing more than 8.5 million residents in Los Angeles County. He is also the State Board of Equalization legislative committee chairman. Horton is the first African American to serve on the State Board of Equalization since its inception in 1879, and the third African American constitutional officer in California's history. Horton previously served as a member of the California State Assembly from 2000-2006.

The five-member California State Board of Equalization is a publicly elected tax board. The State Board of Equalization collects more than $48 billion annually in taxes and fees supporting state and local government services in California. It hears business tax appeals, acts as the appellate body for franchise and personal income tax appeals, and serves a significant role in the assessment and administration of property taxes. For more information on other taxes and fees in California, visit www.taxes.ca.gov.