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Starting up new capacity at a refinery sometimes leads to shutdowns, but early reports of the...

Starting up new capacity at a refinery sometimes leads to shutdowns, but early reports of the severity of the mechanical failure at the huge Motiva refinery (RDS.A, RDS.B) indicate the breakdown might be especially burdensome, taking months to repair. Several refinery stocks rise: WNR +3.3%, VLO +1.7%, COP +0.4%, TSO +0.3%.
Comments (7)
  • myparadigm
    , contributor
    Comments (16) | Send Message
     
    Hooray, one refinery that has been offline will continue to be. Gas is still at an all time high of 4.30 a gallon. I guess that means that we get to pay more because we have to send refined product offshore to the drug cartels in South America. All is well. There is no inflation and its a figment of your imagination that food prices are up and your wages are flat. Go buy an SUV.
    14 Jun 2012, 11:45 AM Reply Like
  • wsteen
    , contributor
    Comment (1) | Send Message
     
    COP is not a refiner anymore. PSX is.
    14 Jun 2012, 12:11 PM Reply Like
  • steveray1969
    , contributor
    Comment (1) | Send Message
     
    MRO no longer has a refining business. Neither does COP.
    14 Jun 2012, 12:11 PM Reply Like
  • long_on_oil
    , contributor
    Comments (1122) | Send Message
     
    PSX is the buy in this situation not COP as mentioned earlier. PSX is the spin off from COP.
    14 Jun 2012, 12:29 PM Reply Like
  • Etep
    , contributor
    Comments (245) | Send Message
     
    $4.30 per gallon for gas you must be on the left coast, here on the right coast it is $3.30 per gallon. Gasoline is cheaper than milk, the average Joe has no idea in what's involved in getting the crude out of the ground, transported, refined into products, and transported nor the large sums of money that need to be invested to keep the energy markets supplied. XOM's profit margin is only 9%, compare that to other companies in fields with much less risk.
    15 Jun 2012, 07:54 AM Reply Like
  • myparadigm
    , contributor
    Comments (16) | Send Message
     
    It doesn't cost any more today than it did six months ago to get product to market and it swings by 25%. The national average is still at 3.50 a gallon so Etep must be another Escalade driving "right" coasted corporate defender of the status quo that's either rich or "foolish" with his defense of those poor energy companies. .
    17 Jun 2012, 01:29 PM Reply Like
  • Etep
    , contributor
    Comments (245) | Send Message
     
    Actually I drive a Chevy, 15 years old. Y'all just don't have an appreciation for the jobs that are provided by the energy industry.
    18 Jun 2012, 12:22 PM Reply Like
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