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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (26219)	10/8/2003 8:07:59 AM
From: John Carragher	Read Replies (1) \| Respond to of 206085

thanks for the article.. i did notice "the volatility of refining margins makes independent refiners less alluring to some investors than integrated oil companies, which can offset occasional refining weakness with returns from high oil and natural gas prices." This supports my point these international companies would like to get out of refining and marketing.. Believe me. refining has not been making money for international companies or marketing for decades. Yes there have been periods of profits but nothing to jump up and down about.. it is very volatil.. This article is about the new sulphur rules on diesel. How much diesel is part of the whole refinery process. Very little. In fact before i retired we stopped storing straight diesel at marketing terminals.. It is all blended between heating oil and kerosine due to lack of demand to segrate valuable storage for diesel , just not enought turnover of this product.. and in colder weather you need to winterize it with added kerosine or the product will wax up and clog filters etc. Some independents will make money but i would be concerned when you see sunoco who i believe get it greatest supply from Vz not making many changes to its system.. This appears again to be the specialty refinery. If it turns out to be excellent profits the majors will not sit back and let them take the profits.. They will upgrade depending on local environmental laws.. This may be only a short term play... good luck.... ps I highly doubt any problems in meeting any new gasoline regulations.. I worked with bringing up unleaded and different other changes.. The majors are usually several months ahead of any new requirements.. I would expect storage requirements and truck rack blending have already been completed or will be bye the fall.. Also service station storage tanks will have had two or three deliveries of new product before regulations go into effect..