Originally Posted by
acl65pilot
Long term, the refinery was a very smart move. Takes some volatility out of our 12 Bln dollar expense. I just wish we would have kept all of the product to sell, but understand the arrangement de-risks it.
Maybe they will buy another one in a different part of the country.
It would be nice to cover the other 20% of fuel...then you could hedge strictly on a barrel of oil....owning the crack spread and all. As long as we let refining industry folks run it, it will be okay operationally. I don't think the current administration has any other intentions. If I'm not mistaken this whole thing came about as a hedging issue...not making money cracking barrels of oil...insert oily crack picture
