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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Bid Buster who wrote (237675)	4/25/2003 4:16:05 PM
From: Mark Adams	Read Replies (1) \| Respond to of 436258

Cheaper to build refining capacity offshore and ship the products. The BS about no knew refining capacity since the 70's in the US is getting old. Majors now ship product world wide, arbitraging price differences. On a recent conf call, D mgmt said STO had contracted for Cove Pt capacity and intended to arbitrage the natural gas differences between UK/Eur and US. They will build in the shipping premium, of course. <g> This already takes place with gasoline and I imagine fuel oil.