Intangible Valuation
Value, contrarian, coat tail rider, idiosyncratic research

Western Refining's Prosperity Is Not Over

EPA Regulation and the decline of oil prices gave the whole refining industry a bad name a few years back. Then, with threats -- since retracted -- of more regulation in New Mexico, Western Refining (NYSE:WNR) with its two operating refineries, sold at a discount. The discount has receded over the past year as the sh...

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