In each of their 10Q they give warning to the risks faced by Kinergy and do indeed give some indications that Kinergy suffers losses in a lower trending market. Market action in March will likely have wiped any Kinergy profitability for the rest of the quarter. Previous periods with similar volatility show a loss for the operation on the order of $0.5-1M. The swings were much higher than they would have possible hedged for...