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Wednesday, 13 February 2019

Low gasoline crack spreads and high crude oil feedstock costs reduce U.S. Gulf Coast refinery margins (2/13/2019)

The U.S. Energy Information Administration (EIA) estimates that margins for U.S. Gulf Coast refiners have declined to the lowest levels since late 2014, based on recent price trends in certain grades of crude oil and petroleum products. Although EIA estimates U.S. refiners will be able to find alternative sources of crude oil supply, recent crude oil supply reductions from members of the Organization of the Petroleum Exporting Countries (OPEC) and Canada along with threat of production disruptions in Venezuela have disproportionately reduced the availability of medium and heavy grades of crude oil with high sulfur content and increased the prices of these oils relative to other grades. In addition, gasoline crack spreads have been mostly negative since November 2018 and are further contributing to low refiner margins. Despite the low gasoline margins, refinery runs remain relatively high because of strong distillate prices. ... More »

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The Stages Of A Scam

1. Foundation Work: This is the preparations which are made before the scam is put in motion, including the elaboration of the plan, the employment of assistants and so forth.

2. Approach: Is the manner of getting in touch with the scammers victim — often most elaborately and carefully prepared.

3. Build Up: Rousing and sustaining the interest of the victim, rousing his emotions, showing him the chance of profit and filling him so full of anticipation and cupidity that his judgment is warped and his caution thrown away.

4. Pay-off or Convincer: An actual or apparent paying of money by the conspirators to convince the victim and settle doubts by a cash demonstration.

5. The Hurrah: This is like the dénouement in a play and no scam or con scheme is complete without it. It is a sudden crisis or unexpected development by which the victim is pushed over the last doubt or obstacle and forced to act. Once the hurrah is sprung the victim is clay in the scammer's hands or there is no game.

6. The In-and-In: This is the point in a scam act where the conspirator may put some of his money into the deal with that of the victim; first, to remove the last doubt that may tarry in the gull's mind.