Speaking of dumping, the major oils like BPA, ARC, TX, CHV,
XOM, etc, took quite a tumble in the last few days.
The Amoco part of BPA could really benefit from the
proposed BPA takeover of ARC, because Amoco has a chronic
crude shortage, and must import a lot, whereas ARC has a
big domestic supply of crude, that it discovered with
BP and Jersey Standard in Alaska. Why is ARC down so much
just because the merger is possibly off? Amoco has the
problem, not Arco. In fact ARC has the lowest P/E ratio
of them all. ARC is making a lot of money compared to a
year ago. Why the ARC slamming? |
