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Are financial firms about to become oil refiners? The reported deal between Sunoco (SUN) and...

Are financial firms about to become oil refiners? The reported deal between Sunoco (SUN) and Carlyle looks similar to the Delta (DAL)-Conoco (COP) deal where JPMorgan (JPM) would trade the crude. Carlyle and JPM would become commercial traders of refined products, lowering margin requirements and potentially raising returns from the sale and hedging of the products.
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  • NatGasMaverick
    , contributor
    Comments (521) | Send Message
     
    This is no different than JPMorgan's ownership of the former Williams Companies tolling agreements (aquired via Bear Stearns) whereby JPM control's several power plants, including 30% of all of the power generated in the Los Angeles basin (AES4000).
    23 Apr 2012, 11:38 AM Reply Like
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