[dools0007world]

So, just before Christmas I saw a story indicating America was awash in gasoline. In the absense of any other info it appears the oil industry’s answer is to reduce refining capacity because of some alleged “financial woes”.

Can anybody out there tell me what the financial woes are?

[thackney]

Our refining capacity has exceeded our domestic demand resulting in us becoming a net exporter of refined petroleum products.

While high oil prices bring lots of dollars to the upstream producers, that high oil price is a cost of feedstock to refineries and has made it a rather tight business as of late.

[maine yankee]

Can anybody out there tell me what the financial woes are?

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Profit - And that’s not a dirty word.

If a refiner (or any business) can not obtain a profit from the facility it operates, it must consider the alternative.

Ask the stock holders of these companies what they think.
(Look in your 401K or mutual fund first)