mikesall

Which Energy Trusts are More Vulnerable to Distribution Cuts?

Harvest is less likely than most to cut..They did not enjoy much of the benefits of the price rise of oil (due to large hedges), and thus their cash flow be less affected than most by the oil price decline.. They also earn about one third of their money from refining, which last quarter was a disaster, but this quarter has improved considerably. Currently the crack spread is over 3 times what it was at the low.. Their cash flow this quarter will exceed the last..