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midtieroil

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midtieroil

Re: ponzi_implosion post# 208005

Wednesday, 03/31/2010 2:33:17 PM

Wednesday, March 31, 2010 2:33:17 PM

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Sinopec is first and foremost a refiner. Their profits are down because they produce only a small fraction of the oil they refine and have to buy the rest. The price of oil is up thereby decreasing their refining margins. It's called the crack spread and all refiners are being hurt by it. By the way, only a small fraction of SNP is deepwater. Once again your version of the "facts" seem to be far from reality.
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