Where One Hand Doesn’t
…wash the other. Oil companies are raking in it at the moment but independent refiners seem to be missing the joy ride.
Times are so tough for oil refiners in America that success is measured not so much in gains as in their ability to stay afloat.
…Rising crude prices have hit oil refiners hard with increasingly thin margins, since gasoline and other products aren’t keeping pace. Even though Holly is one of the leaders in the industry, its shares have dropped 35.0% over the past year. That’s only half the story though. According to Byrne, Holly and its peers have also been hurt by weakening gasoline demand in the United States, which is the biggest driver behind independent refiners.
Oh, we need them going under like a hole in the ozone.
Biz | tree hugging sister | 
May 12, 2008 11:44 pm
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One barrel of oil produces between thirty to forty
gallons of gasoline.If crude is $120 a barrel,
then wholesale oil will cost at least 3.50 a gallon
to refine, after taxes and profits gas will soon be
$4.25 at the pump.
There is no end in sight to this problem.I remember a speech Richard Nixon gave in 1973 or 1974
about the impending collapse of our economy unless we solved the energy crisis.35 years later it has
become taboo to even talk about the crisis.We are lead by traitors..
Greg,
Your math is wrong.
And Tom Smykowski thanks you for your purchase.
There are 42 gallons in a barrel of crude.I
don’t get your response.Maybe,what you say and what you mean are three different things.