http://www.creditwritedowns.com/2009/11/largest-u-s-refiner-valero-now-permanently-shutting-capacity.html Finance, Economics and Markets Wed, 08 Feb 2012 14:57:04 +0000 hourly 1 http://www.creditwritedowns.com/2009/11/largest-u-s-refiner-valero-now-permanently-shutting-capacity.html#comment-57649 Edward Harrison Sun, 22 Nov 2009 16:34:00 +0000 http://www.creditwritedowns.com/2009/11/largest-u-s-refiner-valero-now-permanently-shutting-capacity.html#comment-57649 Warren Buffet has been buying shares in oil companies (principally Exxon Mobil and ConocoPhillips). This suggests he thinks oil is a (long-term?) good investment. Why he is investing and whether these are longer-term bets is still unclear. Warren Buffet has been buying shares in oil companies (principally Exxon Mobil and ConocoPhillips). This suggests he thinks oil is a (long-term?) good investment. Why he is investing and whether these are longer-term bets is still unclear.

]]> http://www.creditwritedowns.com/2009/11/largest-u-s-refiner-valero-now-permanently-shutting-capacity.html#comment-57648 Anonymous Sun, 22 Nov 2009 16:13:00 +0000 http://www.creditwritedowns.com/2009/11/largest-u-s-refiner-valero-now-permanently-shutting-capacity.html#comment-57648 Can you please expand on the Warren Buffett comment? I'm not sure that I follow it. Can you please expand on the Warren Buffett comment? I’m not sure that I follow it.

]]> http://www.creditwritedowns.com/2009/11/largest-u-s-refiner-valero-now-permanently-shutting-capacity.html#comment-57639 Edward Harrison Fri, 20 Nov 2009 15:29:00 +0000 http://www.creditwritedowns.com/2009/11/largest-u-s-refiner-valero-now-permanently-shutting-capacity.html#comment-57639 Agree 100%. This is especially true if you believe there are fundamental secular supply/demand imbalances which will re-assert themselves eventually. Agree 100%. This is especially true if you believe there are fundamental secular supply/demand imbalances which will re-assert themselves eventually.

]]> http://www.creditwritedowns.com/2009/11/largest-u-s-refiner-valero-now-permanently-shutting-capacity.html#comment-57638 Dr. Duru Fri, 20 Nov 2009 15:25:00 +0000 http://www.creditwritedowns.com/2009/11/largest-u-s-refiner-valero-now-permanently-shutting-capacity.html#comment-57638 In the short-term, yes, this is a deflationary indicator. However, once gasoline demand starts to surge again (as it will eventually), this capacity destruction will cause gasoline prices to rise much faster than anyone might expect. So, I would be more concerned with higher gasoline prices over the longer horizon. In the short-term, yes, this is a deflationary indicator. However, once gasoline demand starts to surge again (as it will eventually), this capacity destruction will cause gasoline prices to rise much faster than anyone might expect. So, I would be more concerned with higher gasoline prices over the longer horizon.

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