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Since when is Macquarie such a market mover? Its downgrade of Valero (VLO -4.4%) is hitting...

Since when is Macquarie such a market mover? Its downgrade of Valero (VLO -4.4%) is hitting refiners hard; the firm thinks the government's forced usage of biofuels is causing unintended consequences that will negatively impact refiners and may result in high RIN prices. Ratings for Holly Frontier (HFC -2.5%) and CVR Energy (CVI -3.3%) are cut too. Also: TSO -2.9%, WNR -3.7%, MPC -1.5%.
Comments (7)
  • First, I have never paid any attention to such scurrilous rumours especially from such a no name Mac something! More than likely, it was totally self serving trying to get themselves a better entry point in the refiners as they most likely have missed the great runs in this sector. I say, BUY BUY BUY and I would love to put them in a short squeeze! Simply BLATHER!
    13 Mar 2013, 11:40 AM Reply Like
  • There is a glut of U.S. oil coming over the next few years that will more that offset the goverment requirements. Today's Energy Inventory report shows a sign of this. There is a glut of cheap oil.
    13 Mar 2013, 11:52 AM Reply Like
  • Bloomberg television carried the RIN story too. That probably accounts for the impact.
    13 Mar 2013, 12:03 PM Reply Like
  • Stupid listening to stupid!
    13 Mar 2013, 12:25 PM Reply Like
  • Use the opportunity to buy biofuel stocks. $GPRE, $BIOF, $SZYM etc. - buy - ethanol is insufficient on the market. That way you also hedge your refiner positions. I did.
    13 Mar 2013, 03:17 PM Reply Like
  • I think Truffelpig's advice is sound reasoning. I intend to follow his counsel, and invest in the bio he has diligently recommended. Sometimes, it is wise to pay more than the requisite attention to thunder.
    13 Mar 2013, 08:44 PM Reply Like
  • Valero makes ethanol too! Its govt stupid policy.
    14 Mar 2013, 02:08 AM Reply Like
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