I do regret selling WNR, HFC and ALJ. As I write this, the Brent-WTI spread is upwards of $20 and 321 crack spreads are north of $36, with gasoline soaring today. The price of gasoline is now retailing for $4.40 per gallon. As you get mugged at the pump, the crude is just sitting at Cushing, OK doing nothing.
Let’s not even discuss the oil being extracted from the Eagleford Shale. There is a desperate demand for pipeline infrastructure in this country, to get the crude and distillates moving. However, the EPA hamstrings them, fucking you directly at the pump.
As a result, refinery related stocks are enjoying a renaissance. HFC, TSO, WNR, CVI, DK, PSX, MPC and VLO are the new bankers. They are the guys stealing from you, with the help from the government of course. Truth be told, running a refinery business is capital intensive and they need to eat too. Nonetheless, do not complain when gasoline is retailing for $6.00+ when the war with Iran starts.
We have the oil and the capacity to refine it. We just don’t have the infrastructure to move it around–all thanks and praise to your local fucktard politicians.