Category: Economy

By Cathy Bussewitz / Associated Press PBS News / July 31, 2026

American oil and gas giants raked in massive spring profits while fighting between Iran and the U.S. impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages.

The conflict, now in its sixth month, halted most shipping through the Strait of Hormuz, a narrow waterway that previously served as a delivery route for a fifth of the world’s oil and natural gas. With global supplies constrained, prices for Brent crude, the international standard, soared from about $70 to above $100 a barrel for much of March, April and May, and at one point reached $126.

The money that oil companies accrued between the beginning of April and the end of June could receive extra scrutiny this year. Gasoline, diesel and jet fuel prices climbed sharply during that period, increasing costs for drivers and airline passengers. Supplies ran low in some countries, leading to sporadic fuel rationing in Australia and government office closures in Nepal and Sri Lanka.

Exxon Mobil on Friday reported that its second quarter profits doubled to $14.53 billion, boosted by record diesel production. The oil giant, based in Spring, Texas, brought in $116.02 billion in revenue, up 42%.

Chevron, based in Houston, nearly quadrupled its profits to $12.07 billion and revenue jumped 56% to $70.06 billion.

Six of Europe’s largest oil companies posted combined first-quarter profits of $22 billion, more than 40% higher than last year.

By Jillian Butler

Residents of Mariner’s Cove Apartments in eastern Ocean Beach say years of deferred maintenance have left some affordable housing units with mold, deteriorating cabinetry, broken stairways and other unresolved problems, raising concerns about whether tenants in subsidized units are receiving the same level of maintenance as market-rate residents.

As the cost of living soars, many people turn to government programs in order to find a place to live. Being the ninth most expensive city in America, San Diego is no exception to this. In fact, there are approximately 80,300 people in San Diego County living in government subsidized housing. However, some landlords give preferential treatment to those not in subsidized housing, creating two separate classes of people.

Several sources have reached out to the OB Rag, citing negligence towards those in rent controlled units at the Mariner’s Cove Apartment complex. Issues range from mold to the landlord illegally painting over fire lanes.

Mariner’s Cove is a two story apartment complex with 500 units. Of those 500 units, 300 are considered “affordable”, with 100 being low income. Many such residents are elderly, have disabilities, or both.

One resident I spoke with recounts:

“For years, I have expressed serious concerns regarding the lack of ventilation and potential mold in my unit, as well as the deteriorating plywood and peeling veneer in my kitchen. These issues pose legitimate safety and health risks rather than cosmetic concerns. Although management acknowledges the poor bathroom ventilation and has previously patched a water-damaged wall, they have refused to test for mold. Furthermore, the deteriorating wood in my kitchen cabinets sheds debris onto my dishes every time the drawers are opened.

By Paul Krueger

July has slipped away, and with it, the best chance we had to force City Hall to reopen the 13 Mission Bay restrooms closed in pursuit of  so-called “fiscal responsibility.”

We now have little more than a month until the traditional end of summer to find a solution to this civic embarrassment. And I’m not optimistic.

The city council is on vacation until mid-August, so we can’t organize a protest outside city hall and try to shame council members during non-agenda public comment for their lack of unified response to this actual threat to public health.

Mayor Todd Gloria is only seen in public at pre-scripted ceremonies where he cuts ribbons and fills potholes. So there’s no opportunity to confront him about his false narrative that City Hall can’t spare the $550,000 needed to reopen the restroom doors.

And the council member who should be speaking loudest about the need to protect public health has been regrettably – though predictably — silent on the issue.

Jen Campbell, whose District 2 includes Mission Bay, is a family physician. She knows public health is at risk when people can’t find a restroom.

New CNN Poll Reflecting Changing Winds of Younger Dems

By Edward Wu /  CNN / July 30, 2026

About a third of Democrats and Democratic-leaning adults identify as democratic socialists, according to a new CNN poll conducted by SSRS.

They’re some of the party’s staunchest supporters, but many are also raring for a party overhaul at a time when democratic socialists are seeing new momentum at the polls.

Building on New York City Mayor Zohran Mamdani’s victory over Andrew Cuomo last year, candidates describing themselves as democratic socialists have secured the Democratic nomination in several US House races around the country, including defeats of incumbent Reps. Adriano Espaillat in New York and Diana DeGette in Colorado.

Primaries over the next few weeks will test whether the trend can expand beyond Democratic strongholds – with recent polling on the Democratic gubernatorial primary in Wisconsin finding democratic socialist Francesca Hong leading the field in that critical battleground state.

A Classic Story of Mid-West Immigrants Coming to Southern California During the War

By Philip Roger Shafer

Retold by His Daughter Micaela Porte 

Chapter 1

The Idea  — It started with the letters. The letters from California. The letters from my father’s friend, Walter, had been arriving for over a year, who moved there to work for the defense industry.

Father read them to us at the dinner table. We could hardly believe it. Roses and oranges in winter? A postcard of snow-capped mountains in the background and fruiting orchards in the foreground from Burbank, California.

It was January, 1944. We lived in Columbus, Ohio. I think we all dreamed a lot of California that year.

Christmas had been dreary. Dreary weather, dreary long war rationing, dreary death of Uncle Sydney, prisoner of war, my mother’s young brother, she was so sad. Dreary death of my dad’s mother, Grandma Emma, from a long illness, he was so sad.

I wasn’t sad about death and war. I was ten. I loved sledding, but I busted my front teeth in a jump and all the dental work was making me sad.

“Dear Phil and Edith,

Happy New Year 1944, glad we are alive.
Friends, you must move to California. The place is booming, towns forming overnight. Ask for a transfer, we need good Bell Men.

The war drags on, our condolences to you for the lost of your loved ones in this tragedy…

I miss the snow sometimes, for about 15 minutes at Christmas. Our winter coats hang unused in the hall closet.

Give our love to the family,
Happier New Year to all,

Ongoing

Every Saturday at 10:30 am. San Diego Climate Mobilization Coalition Meetings.  August 1st, 8th, 15th, 22nd, and 29th. Keep up to date on climate issues and Climate Action events. To register email Jon Findley at jon@climatemobsd.org.  More info: https://www.facebook.com/SDClimateMobilization/

Every Saturday 10 am – 12 pm Peace Vigil for Palestine: Advocate for Peace and Justice in Gaza and Everywhere Join CODEPINK SD, San Diego Veterans for Peace, and Palestine Pals every Saturday at 10:00 am at Ocean Beach Gateway Plaza, on the corner of Sunset Cliffs Blvd. and W. Point Loma Blvd.  Wear pink and bring a peace-related poster if you have one!  Contact: Nathanael sandiego@codepink.org  More info:  https://www.instagram.com/codepinksd/

The San Diego River Park Foundation has volunteer opportunities in Ocean Beach: San Diego River Mouth Habitat Restoration on August 11th. For other volunteer opportunities go to https://sandiegoriver.org/

Indivisible is a grassroots movement of thousands of local Indivisible groups with a mission to elect progressive leaders, rebuild our democracy, and defeat the Trump agenda. For places, dates and details go to: https://www.mobilize.us/indivisible/  Also check out their Change Begins with me calendar: https://changebeginswithmesite.wordpress.com/events/

Every Sunday 1:30 pm – 3:15 pm Otay Mesa Vigil Otay Mesa Detention Center 7488 Calzada de la Fuente San Diego 92154

By Steven Mihailovich / PB Monthly / July 30, 2026

Local outrage over the city’s closure of 13 public restrooms in Mission Bay Park to balance the budget was evident at the Pacific Beach Town Council’s July meeting.

As the sole city government official present, Savannah Stallings — PB rep for Council President Joe LaCava — bore the full brunt of criticisms and frustrations arising from the move projected to save San Diego about $547,000 through the elimination of six custodian positions at the Parks and Recreation Department. Their responsibilities included the public restrooms’ maintenance.

The audience of about 35 was audibly upset that the city’s decision caused outsized disruptions for minor savings.

“Personally, don’t you think this should go a little further than just, it’s a budget cut, just accept it?” asked Ron, a resident who didn’t give his surname. “I understand it’s a budget cut. What about the people in the community? I mean, we’re all not homeless here. We’re all taxpayers here. I don’t understand why they targeted the bathrooms.”

Stallings said the initial budget proposal called for closures of restrooms along the shore, but were reinstated after heavy lobbying by LaCava.

In addition, Stallings said only one of the 13 closed restrooms is located in District 1 under LaCava. The remaining 12 are in District 2 served by Councilmember Jennifer Campbell.

Editordude: The following is the substance of Ralph Teyssier’s presentation (slightly edited for clarification) at the Town Hall event at the Point Loma Library, July 28, 2026.

By Ralph Teyssier

Engineering Challenges in Delivering Affordable Housing

Eric Law has discussed the legislative promise of affordable housing, and Patty Ducey-Brooks has addressed the environmental concerns around Midway Rising and Senate Bill 958. I’d like to spend just a couple of minutes discussing the engineering realities of delivering affordable housing.

As a structural engineer, I support affordable housing. But we also need to recognize that SB 958 extends well beyond the Midway Rising project. If enacted, it could influence how future coastal developments are evaluated throughout California. That makes it all the more important that we fully understand the engineering realities, geological conditions, and economic consequences before establishing a statewide precedent. Political will alone does not create affordable housing. Engineering, geology, construction, and economics all play important roles. Nor should we assume that simply allowing taller buildings  automatically results in more affordable housing.

In fact, when increased building height is removed from meaningful CEQA (California Environmental Quality Act) review, it becomes more difficult to fully evaluate the engineering and economic consequences associated with that increased height. In that sense, it works against one of CEQA’s fundamental purposes—providing informed decision-making.

San Diego needs money. Meanwhile, San Diego teens are jumping off Sunset Cliffs, some being seriously injured, others having to be rescued. But most don’t.

The two candidates running for city council district 2 that includes Mission Bay have both called out the disconnect.

Richard Bailey:

“If you’re going to build these facilities, you need to have a plan in place to operate them, to maintain them and then eventually fund their replacement.”

Nicole Crosby:

“There is money, and the problem is that there hasn’t been a full budget audit; we have done a lot of contracts, and there are overruns that go on contracts.”

By Shannon Handy / CBS8 / July 7, 2026

San Diego’s apartment vacancy rate has surged to a record 6.1 to 6.2 percent, driven largely by a boom in new construction. This figure surpasses the previous record of 5.7 percent set during the Great Recession in 2009 and reflects a dramatic increase from 2.6 percent in 2021, according to Josh Ohl, senior director of marketing analytics for the real estate tracker CoStar.

The increase is primarily attributed to a significant influx of new apartment units, with around 5,000 new units added in 2024, followed by another 5,600 in 2025. This year alone has seen about 4,000 new units enter the market. Ohl noted the steady uptick in vacancy rates, which has mirrored the growing supply of apartments. “It’s definitely been ticking up steadily for probably about the last four straight quarters,” he said.

At the  height of the “Town Hall” meeting Tuesday night, July 28, at the Point Loma Library, there was standing-room only. I had counted at least 80 people earlier. It had been called by three local planning groups (Peninsula, Uptown and Old Town) and a Point Loma group to air the community’s grievances against the Midway Rising redevelopment project of the sports arena area, NAVWAR — the Navy’s redevelopment of sections of Old Town, and Senate Bill 958, that if enacted, would pour grease on the skids for Midway Rising’s plans.

Eric Law — chair of the Peninsula Community Planning Board — opened the gathering. He later set the tone when he told the crowd, and the two TV stations present:

“Everyone that has anything to do with housing or businesses here on the peninsula wants to see Midway redeveloped. They just dispute that you need to build it over 30 feet.”

Other presenters included Scott Case and Patty Ducey-Brooks of the Uptown Planners Community Planning Group, Ralph Teyssier, a community activist and engineer, and Eric Law. Other locals sat at the front table ready to answer questions, including Christine Smith of Neighbors for a Better San Diego, and Don Severns, formerly a veteran Peninsula planner.

Case spoke on SB 958 and CEQA, the California Environmental Quality Act. In brief, CEQA, passed in 1976, requires public agencies to evaluate and mitigate the environmental impacts of proposed projects across the state. It has played a crucial role over the decades in protecting California’s environment, including air, water quality, wildlife habitats, historic sites and public health. Basically, it ensures projects consider environmental consequences before being approved, and requires public review and oversight. Unfortunately, many exemptions have been created and now CEQA resembles swiss cheese.

SB 958 seeks to remove elements of CEQA, Case said. It will set a precedent for limitations to be created to CEQA. It applies to other projects across the state.