10Q Detective

Ike vs. Refining Capacity and Oil Price

industry.bnet.com/ener.../

Ike vs. Refining Capacity and Oil Price

Unimpressed makes a great point--for the last seven years we have been conditioned by big oil that rising gas prices are not their fault: crude goes up, gas price goes up. Now crude drops more than $7.00 in the last three trading days -- yet gas price goes up! Oh, I know, w. refineries down, less available gas. BUT, refineries down represent 20% of total production, what about the other refineries running at less than full capacity?

Exxon did not exit retail gas business because of alleged slim margins -- me thinks left business because of PR associated w. $4.00 gas sign next to ExxonMobil name at pump!