Oil Refiners: Cheap for a Reason


	Oil Refiners: Cheap for a Reason

JICWyllie

5-13-2008 12:52 PM

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tags:

energy, oil, refineries, i-profits, i-decrease

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/8ad9af7b-af1d-4516-a066-404af051ad22/B8D435E9-0818-47AA-BB96-95476BA3167F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.kiplinger.com/columns/picks/archive/2008/pick0509.htm" href="http://www.kiplinger.com/columns/picks/archive/2008/pick0509.htm" style="font-size: 11px;">www.kiplinger.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.kiplinger.com/columns/picks/archive/2008/pick0509.htm"><P>Believe it or not, the business of buying crude oil and "cracking" it into gasoline, diesel, jet fuel and heating oil is losing money. It really is hard to believe, considering that everything this industry sells fetches 50% more than it did a year ago. </p> <P>But just like bakers who are staggering from the rising cost of flour or ice cream makers who are paying through the snout for milk and cream, refiners are squeezed by the rising cost of crude, whose price is rising much faster than the price of gasoline.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.kiplinger.com/columns/picks/archive/2008/pick0509.htm">Refiners' gross margins will be slim and company earnings nonexistent until their biggest expense, crude oil, starts falling.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B8D435E9-0818-47AA-BB96-95476BA3167F/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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