Posted on 05/03/2008 5:06:42 AM PDT by kellynla
CALGARY -- With oil prices currently sky-high, it's a great time to be in the energy business - unless you own a refinery.
The record oil prices that are pushing up producers' profits are also dampening demand for petroleum products, creating a glut of North American gasoline reflected by five-year inventory highs.
And while gasoline prices have soared to well over $1.20 a litre in Canada, the surplus stocks mean they haven't kept up with the soaring price of crude oil. As a result, the "crack spread" - the difference between the price of crude and the products refined from it - has been unusually narrow this year.
That's creating thin profit margins for companies like Imperial Oil Ltd., Canada's largest refiner, which yesterday recorded disappointing numbers for the first quarter, and its parent company, Exxon Mobil Corp., the world's largest public energy company.
(Excerpt) Read more at theglobeandmail.com ...
Big Business (and Big Labor) will always prefer Big Government. And vice versa.
It means less competition from Little Business, Little Labor and no risking Little Government.
Whenever we rely on Big Government to protect us from Big Business, we're going to get screwed in the end.
I'd be curious to hear your thoughts of why Exxon would prefer Hillary Clinton.
Good uestion.
But Hillary doesn't represent Big Government. She represents Tyrannical Government.
Slight difference. But a critical one...
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