upstream’s pain is downstream’s gain

crack spread

This chart tells it all. As you can see, as the offshore stocks have been tumbling, the refineries have been raking it in. This seems a bit unfair to me. It should be a more cooperative effort, However, this is the nature of free markets, I suppose. With those 200K layoffs, it seems like maybe there is a better way. They could shift the jobs around, or subsidize those in need. In the long run, it would probably be best for all.

PS: Valero is on the chart, but not labeled. It’s the dark purple.

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About Scott

Live next to Chevron refinery. Lots of petroleum consultants in the area. I am interested in learning more about the industry. Also, interested in finance, business, and investing in world markets.
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