Plastic2Oil Inc (PTOI)

[Justice37]

Somerset really is a dead issue but partial information keeps coming up.

In the summer/fall of 2009 JBI asked several refineries if they would be willing to take the fuel, they all said they would pay current prices for crude and in the case of Somerset, they indicated they would pay $3 lower than the current crude price per barrel. However, Somerset went out of business Feb. 2010, after their offer was made. JB used it an example at the AGM in April 2010 after Somerset shutdown because it was the only name he could use because confidentiality was a non issue for a company that no longer existed. Some posters found out that Somerset was out of business before the AGM and used this as proof that JB was lying and reporting he just made a deal with a company that didn't exist. This also proved the whole P2O process was a scam. However, Somerset's quote, but not their name, was used before they shut down. For example, this post from December 22, 2009:

P2O produces oil at less than $10 per barrel. In the United States, refineries have indicated that they will pick up the fuel at the price of WTI (West Texas Intermediate) price less $3, currently around $70 per barrel.

investorshub.advfn.com/boards/read_msg.aspx?message_id=44780426

So, the quote was given before Somerset shut down, it was not made up, JB did not make a deal at the time a company was out of business. Doesn't really matter at this point, JBI are not going to sell to a refinery, don't need to, at the most it needs to be blended at their blending facility. They have an inexpensive and quality product, it can be sold.

Show me a buyer who given the choice of a barrel of crude oil, or a barrel of blended diesel, which do you think they would take if, for example, both were offered at the same price.