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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 375.93

-1.8%

Nov 14 4:00 PM EST

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To: elmatador who wrote (65848)	8/31/2010 8:34:04 PM
From: energyplay	Read Replies (3) of 217789

Once you see what the refining margins are for crude, and the cost of building refineries, Brazil will likely go for a mix of crude and refined product sales. It will probably make sense to refine enough product for about 90% of Brazil's demand and a large percentage of Atlantic South American demand, and maybe some West African demand. Refineries eat HUGE amounts of capital, and produce VERY few local jobs - try maybe 1-2 million in capital per job. They are like DRAM fabs, or steel mills, or aluminum refineries. So building a few refineries adds to national security be providing refined products, but doesn't add much to jobs, and has erratic returns on (or should it be of ?) capital. The capital will be better used for roads, rail roads, power plants, water systems, and other projects.

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