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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: HH who wrote (14859)3/15/1998 5:00:00 PM
From: NucTrader  Read Replies (1) of 95453
 
Yes. According to Barron's, their refining arm is the second largest refiner in the U.S. and one of the reasons they blow off the other producers, is they feel they can make money by filling their own pipeline from getting oil out of the ground to refining and selling it [they apparently own Citgo]. They are now the 2nd biggest supplier of oil to the U.S. The Barron's article alluded to a price of oil between $8 and $10 a barrel to just get their attention. I'm assuming, of course, that by hard currency you mean U.S. dollars.
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