Oil refineries cutting production
 

Gas and oil prices are at an all time high, and these motherfuckers are cutting refinery production.

It's time to nationalize this industry for the good of the country. These asshats are fucking up the whole worlds economy, and could give a flying fuck.

"But with oil now on the rebound, gas prices could rise further. The Consumer Federation of America predicted Wednesday that prices could jump another 75 cents a gallon over the next two months if refiners continue cutting production. That would be bad news for consumers also bearing the burden of falling home values and high food prices."

http://money.excite.com/jsp/nw/nwdt_...=ap-d8vlagfo1&

I wonder if this is some sort of price fixing?

wow not one person seems to care about our economy getting fucked hard. You can't afford to buy porn if you can't afford the gas to get to work.

I'm amazed we haven't yet had a nationwide truckers strike. This is killing the independant trucker and the industry as a whole.

if it goes up enough it will push for new forms of fuel.

Gas prices are too low.

http://www.nationmaster.com/graph/en...ion-per-capita
#17: United States

What can we do about it...

Iraq, next Iran, then Venezuela.

The Department of Defense is America's largest oil consumer, and America is the world's largest oil consumer.

http://www.energybulletin.net/26194.html

Been a long known fact that we do not have enough refineries nor are they as up to date as they should be.

Yet another damn reason to urge on the production of biofuel from sugar and not corn.

Hey captain dip shit. Refineries are in the US. I then am not even going to really go into that all of the easy oil to get to is fucking gone (anwar excluded but shouldn't be drilled again anyways) and peak oil hit decades ago.

Rename your company After Peak Media.

http://www.accoutrements.com/images/products/11681.jpg

Your so damn cleaver.

While your at it what in your fox news brain dictates anywhere in my comment that I am a commie.

Always bringing Fox and intelligence into discussions, so commie. I thought men were born with equal intelligence, and equal rights, oh wait, that applies to the others, not to you the superior liberal race.

Psycho stalker. I'm not interested, you won't get my digits. Bye.

Did any of you even read the article? They have cut back on production because they say there is too much gas on the market. Gee, prices at an all time high and still not enough money for these fuckers.

It's not that there isn't enough production, it's that they aren't using it and fucking all of us.

Are you smoking crack? You really think that is the answer? There is enough oil in the Alberta tarsands alone to fuel the world for the next 200 years. Saskatchewan has huge deposits that have hardly been touched yet, there are huge amounts of oil alread ready under north american control. There is NO NEED to go starting shit in search of more. For the millionth god damn time, the Iraqi occupation has NOTHING to do with oil.

Yes, there are oversupplies of gas since US consumption of oil is fastly going down. Few refineries even published pre-earnings warning.

From your article:
"Valero Energy Corp. joined them Wednesday, cutting output at its Corpus Christi, Texas, refinery due to high supplies and falling demand, Dow Jones Newswires reported. Gasoline supplies are 9 percent higher than a year ago. ."


Thank monetary policy of your FED, there is a huge speculation on oil. You are paying premium for oil mainly due FED and its current policy of weak dollar, which further drives speculation prices of oil up.
The most estimates on oil speculation says, that there is around 20-30 bucks premium due speculation on weak dollar. Thats what you get when you have FED trying to bailout its wallstreet friends, while they dont care about Joe6pack...
The Central Eurobank head even told it yesterday: "to cut interest rates at this point would be the same as taxing the people to bail out the banks. Cost of extra inflation would be the ultimate sign of moral hazard to save banks."

Refining margins have been low because the price of gas is too low compared to oil. Look at the "crack spread". East coast refining margins have dropped more than 60% in the past 6 months. http://www.oilintel.com/spothome.cfm?loc_id=7



Did you see the Valero announcement earlier in the week? They are looking at a 90% drop in profit this quarter.

March 24 (Bloomberg) -- Valero Energy Corp., the largest U.S. refiner, said it expects first-quarter net income to plunge to as little as 10 cents a share as profit margins on gasoline and other fuels narrow.

Per-share profit will be in the range of 10 cents to 35 cents, San Antonio-based Valero said today in a statement. That would compare with net income of $1.86 a share in 2007's first quarter. Valero was expected to net 96 cents a share in the current quarter, according to the average of two analyst estimates compiled by Bloomberg.

Fuel prices aren't just fucking up the trucking industry.

I know a guy that runs his own shrimp boat. The diesel prices are crushing his business. He parked his boat and started working on a dredge. Fucking sad. I believe he's still paying on his boat too. :(